The following points highlight the four main types of accounting of labour cost. The types are: 1. Payroll Accounting 2. Labour Cost Accounting 3. Time Keeping 4. Time Booking. Type # 1. Payroll Accounting: It is concerned with the maintenance of records for the amounts due to the employees like salaries, wages, allowances, contributions to provident fund and E.S.I, etc. [...]
The following points highlight the four main types of labour cost records. The types are: 1. Clock Card 2. Daily or Weekly Time Sheet 3. Job Cards 4. Piece Work Cards. Type # 1. Clock Card: At the time of coming in or leaving the factory premises, the employee will use a card called 'clock card' at the factory gate [...]
In this article we will discuss about:- 1. Meaning of Labour Turnover 2. Causes of Labour Turnover 3. Measures to Reduce Labour Turnover 4. Measurement of Labour Turnover 5. Costs of Labour Turnover 6. Treatment of Cost of Labour Turnover. Meaning of Labour Turnover: Labour turnover is the movement of people into and out of the organization. It is usually [...]