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Describe the Principles of cost accounting
Principles of cost accounting: The fundamental principles of costing are identical and are given below:
1. Cost is related to its cause
2. Cost is charged after it is incurred
3. Abnormal costs are excluded from costing
4. Past costs are not charged to future periods
5. The concept of conservation has no place in costing
6. Accounting for cost is based on double entry principal:
What are the duties of the Public Company Accounting Oversight Board?
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dentify and explain the many classsification of cost for planning,control,performance evaluation and decision making
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Advantages of Value Added Statements 1) Managers might be in a better position to control their organizations own inputs than the cost and usage efficiency of purchased materia
Stages of the suggestion system 1) Encouragement : in the first stage management should make every effort to help the workers provide suggestion no matter how primitive for th
What is the definition of internal controls
Innova uses 1,056 units of the component IMC2 every month to manufacture one of its products. The unit costs incurred to manufacture the component are as follows. Direct material
INCOME STATEMENTS
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