Describe the principles of cost accounting, Managerial Accounting

Assignment Help:

Describe the Principles of cost accounting

Principles of cost accounting: The fundamental principles of costing are identical and are given below:

1. Cost is related to its cause

2. Cost is charged after it is incurred

3. Abnormal costs are excluded from costing

4. Past costs are not charged to future periods

5. The concept of conservation has no place in costing

6. Accounting for cost is based on double entry principal:

Related Discussions:- Describe the principles of cost accounting

Treasury management, Treasury management is explained as "the corporate han...

Treasury management is explained as "the corporate handling of all financial matters, the production of external and internal funds for business, the management of cash flows and c

results of quality improvements, At the starting of the year, Asquith Comp...

At the starting of the year, Asquith Company Ltd initiated a quality improvement program. The program was successful in decreasing scrap and rework costs. To help assess the impact

Illustrate the techniques used in management accounting, Determine the The ...

Determine the The tools and techniques used in management accounting 1. Financial policy and accounting : every concern has to take a decision about the sources of raising fun

Management accounting, Management Accounting An accounting discipline c...

Management Accounting An accounting discipline concerned with the use of financial information. It used to relevant information by managers and other decision makers inside a s

ACCOUNTING VARIATION, MAKE A TRADING ACCOUNT

MAKE A TRADING ACCOUNT

Operating cycle method, Operating Cycle Method In this way, total opera...

Operating Cycle Method In this way, total operating expenses for a period are divided via the number of operating cycles in the relevant period to compute the cash need for wor

Illustration of standard error of estimate , Illustration of Standard error...

Illustration of Standard error of estimate The production manager of XYZ Company is concerned about the apparent fluctuation in efficiency and wants to determine how labour cos

Battle of the sexes game, Battle of the Sexes game To understand Battle...

Battle of the Sexes game To understand Battle of the Sexes game, let’s consider a story as follows: Two players (a couple) wish to go to an event together but disagree about

Explain the process of financial intermediation, Question 1: i) Explai...

Question 1: i) Explain the process of financial intermediation and discuss the existence of banks. ii) Examine the implications of the existence of financial intermediarie

Illustrate the problem types of pricing, Pricing is a problem in four gener...

Pricing is a problem in four general types of situations: 1) When the firm develops or introduces a new product and it is fix the price of the product for the first time. 2)

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages