Accounting records - nature and purpose of cost accounting, Cost Accounting

Assignment Help:

Accounting Records - Nature and Purpose of Cost Accounting

The quantitative information employed in the management and cost accounting systems can be obtained from with two accounting records sets, usually referred to like ledger systems.

 These are as:

a) Interlocking ledger system - it is employ of separate financial and cost ledger systems to meet the individual requirements of management / cost accountants and financial accountants respectively.

b) Integrated ledger system - employ of single unified ledger system, that serves requires of both management and cost accounting and financial accounting. It meets the information desires of management / cost accountants and financial accountants simultaneously.


Related Discussions:- Accounting records - nature and purpose of cost accounting

Uniform Capitalization rules, Are public service corporations subject to un...

Are public service corporations subject to uniform capitalization rules?

Depreciable cost, A organization is evaluating a proposed 4-year project.  ...

A organization is evaluating a proposed 4-year project.  The depreciable cost will have the following: $300,000 for the equipment, $20,000 for shipping, and $30,000 for installatio

Calculate the ß, Calculate the β of Maine Corporation from the following da...

Calculate the β of Maine Corporation from the following data. The prices are at the beginning and at the end of each year     Normal 0 false false

Cost accounting as a service activity, critically explain cost accounting a...

critically explain cost accounting as 1. a service activity 2. a descriptive/analytical discipline 3. an information system

Accrued income, Accrued income is an amount earned although not in reality ...

Accrued income is an amount earned although not in reality received during the accounting period or till the date of preparation of last accounts for the period concerned. The firs

Integrated ledger system, Integrated Ledger System An integrated accou...

Integrated Ledger System An integrated account ledger system, which has a number of features that may be viewed as preferable to the interlocking ledger system. In present dec

Long - term capital loss, The Smiths have a long-term capital loss carryove...

The Smiths have a long-term capital loss carryover of $10,000 from 2010. On May 9, 2007, David's uncle, Joe, gave him the family antique gun collection. Based on family records

Marginal costing.., importance of marginal costing &standing costing

importance of marginal costing &standing costing

Method of measuring costs associated with production, Which method of measu...

Which method of measuring costs associated with production is more widely used in practice A. Normal Costing  B. Actual Costing  C. Both are used equally  D. Neither one

Evaluate amount of goodwill should horace wimp record, Blue sky Company's 1...

Blue sky Company's 12-31-13 balance sheet reports assets of $5,000,000 and liabilities of $2,000,000. All of the book value's are the same as the market values except for land, wh

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd