Cost Codification: Objectives and Methods | Cost Accounting

In this article we will discuss about:- 1. Objectives of Cost Codification 2. Requirements of Efficient Coding System 3. Methods. CIMA defines a coding "a system of symbols designed to be applied to a classified set of items, to give a brief accurate reference facilitating entry, collation and analysis". Codification of costs is a system of assigning code numbers to [...]