Cost Accounting
Cost accounting is defined as the process of accounting for cost which begins with the recording of income and expenditure and ends up with the preparation of periodical report for ascertaining and controlling cost.
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What is Marginal Cost and Marginal Cost Equation
What is Marginal Cost The marginal cost of an additional unit of output is often referred to as the “prime cost plus variable overhead.” I
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What is a Non-Integrated Accounting System?
Non-Integrated Accounting System In cost accounting the cost books are basically maintained under the following two systems: I. Non-integral or non-in
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Introduction to Job Costing and Its Benefits
Job Costing Job costing is a cost accounting system that allocates the costs of producing a good or service to the particular products and services of
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Introduction to Operating Costing in Cost Accounting
Operating Costing in Cost Accounting Cost accounting has always been associated with industrial firms. However, in today’s competitive market, c
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Cost classification according to the accounting treatment
Cost classification refers to how costs are treated in cost accounting. There are two types of costs as per treatment. Product Costs Product costs com
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