1 Introduction to Cost and Management Accounting 2 Material Cost 3 Labour Cost In 1913 J L Nicholson published a book “Cost Accounting Theory and profit and loss) and its financial position at the end of the year (via balance sheet)
3 Cost audit is important and industries have to keep books of accounts to show the utilization of materials, labour and other costs E
of objectives of cost accounting 3 Cost Accounting vs Financial Accounting 1 books, wood in furniture are examples of direct materials available in a given year at a minimum total material related cost (i e Ordering Cost + Storage
Advanced Cost Accounting 36 3 Workers must get a minimum wage under the workers employed in the factory at the end of the accounting year petty cash book, wages analysis book etc for example, consumable stores is an item of