Tag Archives | Cost Accounting

Top 6 Types of Costing Systems | Cost Accounting

The following points highlight the top six types of costing systems. The types are: 1. Historical Costing 2. Absorption Costing 3. Direct Costing 4. Marginal Costing 5. Standard Costing 6. Uniform Costing. Type # 1. Historical Costing: In this type of costing system, the costs are ascertained only after they have been incurred. The main […]

Cost Accounting System: Necessity and Essentials

In this article we will discuss about:- 1. Introduction to Cost Accounting System 2. Necessity for Cost Accounting System 3. Reports Provided by Cost Accounting Department 4. Essentials of Good Cost Accounting System 5. Essential Factors for Good Cost Accounting System 6. Practical Difficulties in Installation of Cost Accounting System 7. Suggestions to Overcome Practical […]

Cost Centre: Meaning and Types | Cost Accounting

In this article we will discuss about the meaning and types of cost centres. Meaning of Cost Centre: Cost Centre: CIMA defines Cost Centre as “a production or service, function, activity or item of equipment whose costs may be attributed to cost units. A cost centre is the smallest organizational sub-unit for which separate cost […]

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