Archive | Cost Classification

Classification of Costs: 5 Types | Accounting

The following points highlight the five main types of classification of costs. The types are: 1. Cost Classification by Nature 2. Cost Classification in Relation to Cost Centre 3. Cost Classification by Time 4. Cost Classification for Decision Making 5. Cost Classification by Nature of Production Process. Type # 1. Cost Classification by Nature: The total cost of a product [...]

By |2016-12-12T08:06:18+00:00December 12, 2016|Cost Classification|Comments Off on Classification of Costs: 5 Types | Accounting
Read More

Cost Classification by Behaviour | Accounting

In this article we will discuss about the cost classification by behaviour. The categories of classification are: 1. Variable Cost 2. Fixed Cost 3. Semi-Variable or Semi-Fixed Cost. 1. Variable Cost: The variable cost is a cost that tends to vary in accordance with level of activity within the relevant range and within a given period of time. The prime [...]

By |2016-12-12T08:06:18+00:00December 12, 2016|Cost Classification|Comments Off on Cost Classification by Behaviour | Accounting
Read More
AccountingNotes.net. All rights reserved.
This website uses cookies and third party services. OK
Go to Top