Uniform costing, Cost Accounting

Uniform Costing

It is a general system utilizing agreed concepts, standard and principles accounting practices adopted via different entities in the similar industry to ensure that they all deal along with accounting information in a same manner so as to facilitate inter-firm comparison.

The objectives of uniform costing are as:

a. To promote uniformity of costing processes, hence valid costs comparisons can be made among same organizations

b. To eliminate inefficiencies and promote good practice revealed via the cost comparison.

c. Serve like a basis for government grants or subsidies that weed similar costing systems to ensure equitable distribution.

d. Serve like a basis for competitive bidding.

Posted Date: 2/7/2013 3:02:49 AM | Location : United States







Related Discussions:- Uniform costing, Assignment Help, Ask Question on Uniform costing, Get Answer, Expert's Help, Uniform costing Discussions

Write discussion on Uniform costing
Your posts are moderated
Related Questions
Variance Analysis This section describes how labour, material and overhead variances are calculated and what causes every of those variances. A chart is given also to describe

Waterloo Machining, Inc. paid $1,800,000 for factory equipment on January 1, 2012. It paid $100,000 for delivery and $220,000 for installation and modifications.  Waterloo received

Dropping a segment - George's Grill analyzes profitability of three operating units: restaurant, bar, and billiards room. Revenues, variable costs, and attributable fixed costs (wh

Overhead Absorption Absorption of overheads refers to the sharing out of overhead costs to the some cost centers such used the overheads. This is utilized when the overheads c

Differentiate between Multiple Products, Selling Costs and Margin Management


1) Please elaborate on the attached performance report by preparing a presentation to "management" which incorporates the information presented in the performance report. Present t

SD manufactures and sells a small range of timber based  products. The main differences b/w the products are their size and the type of timber they used. SD prepares annual budgets

The data set for the assignment is about breast cancer.  Some of these data have been changed for the purposes of this assignment so the results from the analysis of this file may

A bank in a medium-sized midwestern city, Firm X, currently charges $1 per transaction at its ATMs.  To determine whether to raise price, the bank managers experimented with a n