Single Costing: Meaning, Characteristics, and Objectives
Single Costing method of the ascertainment of the cost of production is suitable for those industries in which manufacturing is continuous and units of output are identical. You will be…
Advertisements
How to the Classification of Cost according to 4 functions?
Classification of Cost according to 4 functions: This is a traditional classification. A business has to perform several functions like manufacturing, administration, selling, distribution, and research. This article explains the…
What is the Cost concepts in Cost accounting? Discussion
Top 17 Cost concepts in Cost accounting: They are; 1) Product and period costs, 2) Common and joint costs, 3) Short-run and long-run costs, 4) Past and future costs, 5)…
Techniques and methods of costing in Cost accounting
The techniques and methods of costing in Cost accounting are to explain their points one by one. First, Techniques of Costing: Historical Absorption, Marginal, Budget and Budgetary Control, Differential, and…
What is the importance of Cost accounting? Discussion
Importance of Cost accounting: Cost accounting is the accounting of the cost. It is made of two words-Cost and Accounting. This article explains the 7 important, the importance of Cost…
Difference between Delegation and Decentralization
Delegation and Decentralization: They are closely related concepts. Decentralization is an extension of delegation. It is wider in scope and consequence than delegation. Szilagyi writes, “Centralization and decentralization should not…
Difference between Traditional and Modern Concept in Business
Difference between Traditional and Modern Concept of Business: Business is concerned with producing and distributing goods and services to make a profit. This is two Concepts: Traditional concept of business…