What are the Advantages of Cost Audit?
A cost Audit is an important part of a company’s financial and risk management. The main purpose of this cost audit is to help the company to save money by fixing any cost-related mistakes. Cost auditing is a critical evaluation process used to ensure that cost accounts are accurate and that cost accounting plans and […]
What is Direct Labour in Cost Accounting?
Direct labour is the cost of the labour used to produce a product or service. It includes all wages, salaries, and other forms of employee compensation, such as benefits. In simple words, it is labour that can be conveniently identified or attributed wholly to a particular job, product, or process or expended in converting raw […]