Day: September 29, 2020

Cost may be classified on the following bases: Functions Behaviour Traceability to end product Time Identify with stock Controllability Relevance for decision making 1. Classification by Function On the basis of function, costs may be classified into production cost, administration Read More …

Introduction Accounting is the method of identifying, measuring and communicating economic information to permit informed judgment and decision making by the users of the information. It’s that part of information system of business enterprise which provides financial information concerning the Read More …

MARGINAL COSTING/DIRECT COSTING/VARIABLE COSTING This is a costing technique in which only variable manufacturing costs are considered and used in valuing inventories and also in determining the cost of goods sold i.e. only variable production cost are considered as products Read More …