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 …
Day: September 29, 2020
Difference between Financial Accounting & Cost Accounting
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 AND ABSORPTION COSTING NOTES
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 …