Elements of Cost
Elements of cost are three types:.
1) Materials 2. labour 3, Other Expenses Materials: materials cost are divided into two.
1) Direct Materials.
2) Indirect Materials.
Direct Materials: They are those materials which can be identified and can bemeasured and directly charged to a particular product.
Example: Timber in furniture making, bricks in buildi.
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Introduction to Cost Accounting
Definition of cost: Cost is ―The amount of expenditure incurred on or attributable to a giventhing‖ - LC.M.
London Cost = Usage x price Definition of cost Accountancy: ICMA London has defined Cost Accounting as ―the .application of costing andcost accounting principles, methods and techniques to the science, art andPractice of cost control and the .
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Methods of Costing
The method of costing refers to the techniques and process used inascertainment of cost of production.
There are different methods of costing fordifferent industries.
There are two basic methods of costing.
1) Job costing 2) Process costing All other methods of costing improvements or combination of the above twobasic methods.
Job costing: In this .
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Multiple Costing (OR) Composite Costing
It is an application of more than one method of costing in respect of the sameproduct.
This method is used in industries where a number component parts areseparately produced and assembled to product final product.
Example: INDUSTRY UNIT COSTSteel TonneCement TonneBrick manufacturing 1000 bricksPower kilowatt hourTransport passenger-kilometreWater .
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What is BCom 2nd year syllabus?
BCom 2nd Year Syllabus consists of subjects like Company Law, Corporate Accounting, Income Tax Law & Practice, Cost Accounting, Cyber Crimes & Laws, E-Commerce etc.
The 2nd year of BCom Syllabus contains 2 semesters.
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What is cost accounting study material?
Cost Accounting study material includes ,cost accounting notes, cost accounting books, cost accounting syllabus, cost accounting question paper, cost accounting case study, cost accounting questions and answers, cost accounting courses in cost accounting pdf form.
Did we miss something in MBA Study Material? or You want something More? .
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Where can I download cost accounting notes?
Cost Accounting Notes can be downloaded in cost accounting pdf from the below article.
A detailed cost accounting syllabus as prescribed by various Universities and colleges in India are as under.
You can download the syllabus in cost accounting pdf form.
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Where can I read BCom 2nd year cost accounting notes?
You can read B.Com 2nd Year Cost Accounting Notes Online at here .
You can donate Accounting Education at here .
Following concepts a..
