Using Advanced Cost Accounting Financial Reports for compare the information in the cost object field against the Address Book Master, and verify that the. Advanced Cost Accounting [J K Mitra] on echecs16.info Story time just got better with Prime Book Box, a subscription that delivers editorially hand-picked. To learn about the higher application of cost accounting techniques and methods To know the application of cost REFERENCE BOOKS. 1. Advanced cost accounting, echecs16.infol, Sahitya bhavan, Agra. 2. Advanced cost accounting, SN.
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Advanced Cost Accounting. Front Cover · J. K. Mitra. New Age International, - Cost accounting - pages. 0 Reviews. Advanced Cost Accounting book. Read reviews from world's largest community for readers. Chapter 1 Process Costing Chapter 2 Uniform Costing and Inter-Fir. Developed & Produced by EXCEL BOOKS PVT. Diagrammatic and Graphic Presentation of Cost Information Advanced Cost Accounting.
For example, in some companies, machine cost is segregated from overhead and reported as a separate element altogether, and payroll costs are sometimes separated from other production costs. Classification of costs[ edit ] Classification of cost means, the grouping of costs according to their common characteristics. Direct costs are assigned to Cost Object. Indirect costs are allocated or apportioned to cost objects. By Behavior: fixed, variable, semi-variable. Costs are classified according to their behaviour in relation to change in relation to production volume within a given period of time.
Controllable costs are those which can be controlled or influenced by conscious management action. Uncontrollable costs cannot be controlled or influenced by conscious management action. By normality: normal costs and abnormal costs.
Normal costs arise during routine day-to-day business operations.
Abnormal costs arise because of any abnormal activity or event not part of routine business operations. By Time: Historical costs and predetermined costs. Historical costs are costs incurred in the past.
Predetermined costs are computed in advance on basis of factors affecting cost elements. Example: Standard Costs.
By Decision making Costs: These costs are used for managerial decision making. Differential costs: This cost is the difference in total cost that will arise from the selection of one alternative to the other. Opportunity costs: It is the value of benefit sacrificed in favour of an alternative course of action.
Relevant cost: The relevant cost is a cost which is relevant in various decisions of management. Replacement cost: This cost is the cost at which existing items of material or fixed assets can be replaced.
Thus this is the cost of replacing existing assets at present or at a future date. Shutdown cost: These costs are the costs which are incurred if the operations are shut down and they will disappear if the operations are continued.
Capacity cost: These costs are normally fixed costs. The cost incurred by a company for providing production, administration and selling and distribution capabilities in order to perform various functions.
Sunken cost: cost already incurred Other costs Standard Cost Accounting[ edit ] This section may require cleanup to meet Wikipedia's quality standards.
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