Tag Archives | Labour

Overheads: Definition and Collection | Labour

In this article we will discuss about:- 1. Definition of Overheads 2. Meaning of Chargeable Expenses 3. Steps in Accounting of Overheads 4. Classification and Codification of Overheads 5. Collection of Overheads 6. Cost Allocation 7. Allocation and Apportionment of Overheads. Definition of Overheads: CIMA defines Overhead Cost as “the total cost of indirect materials, […]

Time-Booking: Definition, Objectives and Methods

In this article we will discuss about:- 1. Definition of Time-booking 2. Objectives of Time-booking 3. Methods of Time-booking. Definition of Time-Booking: Time booking signifies the time spent by a worker on each job, process or operation. It is more important in case of direct workers as compared to indirect workers. Objectives of Time-Booking: The […]

Time and Motion Study: Meaning, Objectives and Treatment

In this article we will discuss about the Time and Motion Study:- 1. Meaning of Time and Motion Study 2. Objectives of Time and Motion Study 3. Benefits 4. Treatment of Some Items. Meaning of Time and Motion Study: Time study is defined as a work measurement technique for recording the times and rates of […]

Job Evaluation: Definition, Objectives and Steps

In this article we will discuss about Job Evaluation:- 1. Definition of Job Evaluation 2. Objectives of Job Evaluation 3. Steps for Job Evaluation 4. Advantages of Job Evaluation. Definition of Job Evaluation: Job evaluation is the technique of analysis and assessment of jobs to determine their relative value within the firm so that a […]

Labour Turnover: Definition, Causes and Effects

In this article we will discuss about:- 1. Definition of Labour Turnover 2 . Causes of labour Turnover 3. Effects of Labour Turnover 4. Measurement of Labour Turnover 5. Labour Turnover Report. Contents: Definition of Labour Turnover Causes of labour Turnover Effects of Labour Turnover Measurement of Labour Turnover Labour Turnover Report 1. Definition of […]

Top 3 Methods of Wage Payment | Cost Accountancy

The following points highlight the top three methods of wage payment. The methods are: 1. Time Rate Plan 2. Piece Rate 3. Incentive Wage Plans. Wage Payment: Method # 1. Time Rate Plan: The method which is related to the hours of work is known as Time Rate Plan. Under this method the worker is […]

Time Wage System: Advantages and Disadvantages

In this article we will discuss about the Time Wage System:- 1. Advantages of Time Wage System 2. Disadvantages of Time Wage System. Advantages of Time Wage System: Time-wage system offers the following advantages: (i) Stable wages and security: It provides the worker with job security and stability of wages. The inefficient workers are assured […]

Top 4 Incentive Schemes for Efficient Workers

The following points highlight the top four incentive schemes for efficient workers. The schemes are: 1. Differential Piece Rate 2. Premium Bonus Scheme 3. Group Incentive Plans 4. Bonus Schemes for Indirect Workers. Incentive Schemes for Efficient Workers: Differential Piece Rate Premium Bonus Scheme Group Incentive Plans Bonus Schemes for Indirect Workers Incentive Scheme # […]

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