The following chart shows the various elements of cost and how they are classified. Direct…

Costs can be classified based on the following attributes: By Nature In this type, material,…

Both cost accounting and financial accounting help the management formulate and control organization policies. Financial…

The advantages of cost accounting are: Disclosure of profitable and unprofitable activities Since cost accounting…

Following are the main concepts of cost accounting: Cost                                                                   There is a cost involved to…

Cost accounting is the application of accounting and costing principles, methods, and techniques in the…

According to this concept, the business and the owner of the business are two different…

Depreciation can be calculated using any of the following methods, however the most popular methods…

Let us see the accounting entries related to assets and depreciation: S.No.ParticularsJournal Entries1Purchase of Fixed…

Here is why we need to provide depreciation: ●      To ascertain the true profit during a…