Tag Archives | Cost Accounting

Labour Cost

Labour can be direct as well as indirect. Direct labour is that which can be charged to specific cost units directly. Indirect labour is one the direct allocation of which is not possible.  If wages can be allocated to different jobs or products on a convenient basis and are paid to workers engaged directly in the fabrication of products, the [...]

By |2021-05-18T14:16:56+05:30May 18, 2021|Cost Accounting|Comments Off on Labour Cost

Costing Techniques

Some of the most popular costing techniques are as follows:- 1. Historical Costing 2. Uniform Costing 3. Marginal Costing 4. Absorption Costing 5. Direct Costing 6. Incremental Costing and 7. Standard Costing (i) Historical Costing: As the name suggests, under this method first the expenditure is incurred and then it is recorded and accounted for calculating cost of production per [...]

By |2021-04-27T14:29:31+05:30April 30, 2021|Cost Accounting|Comments Off on Costing Techniques

Limitations of Cost Accounting

Everything you need to know about the limitations of Cost Accounting: -1. It is Expensive 2. The system is more complex 3. Not suitable for small organisations 4. Lack of social accounting 5. Not an exact science 6. Not applicable in all types of industries 7. Results are not dependable 8. Results are not trustworthy 9. Merely a system of [...]

By |2021-04-25T07:02:27+05:30April 26, 2021|Cost Accounting|Comments Off on Limitations of Cost Accounting
Go to Top