Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Cost Accounting
Cost accounting has been defined via many accounting scholars in different forums. There is no single watertight definition of cost accounting, however the various definitions all point to specific common aspects to the subject. Underneath are some definitions provided by certain authorities as:
"That part of management accounting such establishes standard costs and budgets and actual costs of processes or operations, products or departments and the analysis of variances, social or profitability use of funds" by Chartered Institute of Management Accountants - CIMA. "Which identities, such defines measures, analyses and reports the different elements of indirect and direct costs associated along with producing and marketing goods and services. However Cost accounting measures performance, productivity of quality and product quality" by Letricia Gayle Rayburn. "The systematic process of summarizing and collecting, recording data regarding the different resources and activities into a firm hence like to calculate the basis of production costs employed in financial accounting or making another relevant decisions in a firm by Horngren C.T
Conversely Cost accounting is broad and extends beyond to calculate production costs for inventory valuation that government-reporting requirements largely dictate. Though accountants do not permit external reporting requirements to find out how they measure and control internal organizations activities. During this fact, cost accounting focus is shifting for financial reporting from inventory valuation to costing for decision making. The most important objective of cost accounting is communicating financial information to management for planning, evaluating and controlling performance, and to assist management also to create more informed decisions. Its data is employed by managers to guide their decisions.
Apportionment of Overheads Apportionment of overheads occurs whereas the net value of an overhead item is shared among more or two cost centers that employ the overheads. Th
Assets 2011 2010 Non Current Assets
Process Cost Report This is a commonly employed statement that traces the flow of units produced and costs incurred in the production process. The report is prepared for every
Limitations of abc analysis
Balance Sheet 2010 2011 Assets Cash
Variable Overhead Variance (VOHV) VOHV is defined by ICMA, London, as 'the variation between the standard variable production overhead absorbed in the production achieved, whet
Optimise Manufacturing Cost Of late it is perceived that in order to optimise manufacturing cost, a product might be designed and financed in one country; its material /compon
#question.ABC Corportaion produces and sell two products. In the most recent month, Product 123 had sales of $33,000 and variable expenses of $15,840. Product 245 had sales of $42,
how to post journal to ledger four coloumn
The following information is available for Whitlock Corporation in millions average common stockholders equity 2014-$2,532 2013-$2,591 dividends declared for common stockholders 20
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd