by Accountant Town | Aug 16, 2019 | Types
Cost Accounting – Compiling Cost Data COMPILING THE COST DATA With the cost data once at hand, as found in the various material and time reports, the next step is to arrange and summarize this information. The present chapter shows what becomes of the information...
by Accountant Town | Aug 16, 2019 | Types
Cost Accounting – Costs by Financial Statement Classification CONTROL OF THE COST RECORDS BY THE FINANCIAL RECORDS Methods of Controlling Cost RecordsThe description and analysis of the financial records as a whole is a subject for special books; but since the cost...
by Accountant Town | Aug 16, 2019 | Principles
Function of Cost Accounting COST FINDING AND ITS FUNCTIONS The importance of efficiency in business organization has never been so generally recognized as at the present time, and the subject presents an even greater field for development in the future. One indication...
by Accountant Town | Aug 16, 2019 | Principles
Cost Accounting – Concept of Cost Concepts of “Cost” Before total costs may he assembled and the goal of cost accounting reached, all charges which make up those costs must be recorded separately and in detail. This raises an inquiry as to the meaning of the...
by Accountant Town | Aug 16, 2019 | Principles
Elements of Cost in Cost Accounting ELEMENTS OF COSTS Production costs are classified into three principal divisions, known as the elements of costs:Direct Charges“Direct Charges” is that element of cost that enters into, and can be charged directly to, the...
