What is Process Costing? Manufacturing companies follows the process costing and the production process is carried on in two or more centers continuously. It is a basic method
Methods of Calculating Labour Turnover The following are the main methods of measuring labour turnover. 1. Calculating Labour Turnover by Separation Method Under the Separation Method, the relationship
Limitations of Financial Accounting The main reason for the development of cost accounting is the limitations of financial accounting. Hence, causes for the development of cost accounting and
Secondary distribution of Overhead The production departments do not produce any goods and services without getting any service from the service departments. Hence, there is logic that the
Cost is defined as the amount of expenditure (actual or notional) incurred on or attributable to a given thing or to ascertain the cost of a given thing.
History of Cost Accounting Every business has to face stiff competition under uncertainty conditions or situations. Moreover, risks involved in running of a business unit are also increased
What is Cost Control? Cost control is a tool of management executives to regulate the working of the manufacturing concern. Under the globalize economy, mere planning is not
Primary Distribution of Overhead Primary Distribution is the allocation or appointment of different items of overhead to both production and service departments on suitable basis. There is no
What is allocation of Overhead? The overhead, which can be easily identified with a particular department that is charged only to the specified department, is called allocation. There