Posted inAccounting Basics
Fields Covered under the Cost Reduction Program
A number of fields come under the scope of cost reduction. They are discussed below.…
Posted inAccounting Basics
Cost Reduction Program
Followings are the essentials of a cost reduction program: ● Cost reduction program should be according…
Posted inAccounting Basics
Cost Accounting – Cost Reduction
Cost reduction is to be understood as the achievement of real and permanent reduction in…
Posted inAccounting Basics
Money Measurement Concept
According to this concept, “we can book only those transactions in our accounting record which…
Posted inAccounting Basics
Requirements for Successful Cost Control
The following requirements are to be fulfilled to implement successful cost control: ● A plan and…
Posted inAccounting Basics
Cost Control Techniques
Costs can be controlling by employing the following methods: ● Material Control ● Labor Control ● Overheads Control…
Posted inAccounting Basics
Cost Accounting – Cost Control
Conceptually, accounting is the discipline that provides information on which external and internal users of…
Posted inAccounting Basics
Cost Accounting – Cost Sheet
A cost sheet is prepared to know the outcome and breakup of costs for a…
Posted inAccounting Basics
Cost Accounting – Elements of Cost
The following chart shows the various elements of cost and how they are classified. Direct…
Posted inAccounting Basics
Cost Accounting – Classification of Cost
Costs can be classified based on the following attributes: By Nature In this type, material,…