Costing is the process and technique o ascertaining costs. Cost accounting is the process of accounting for cost which begins with the recording of income and expenditure or the bases on which they are calculated and ends with the preparation of periodical statements and reports for ascertaining and controlling costs. The scope of cost accounting includes: · Costing – process of ascertaining costs · Cost accounting – accounting and recording and reporting of costs · Cost analysis – finding factors responsible for variances in actual and budgeted costs · Cost comparisons – cost comparisons from alternative courses of action/different products, etc. · Cost control – detailed examination of each cost to understand its advantage and scope for reduction · Cost reports – to prepare ost reports for management decision making · Statutory compliances – maintaining cost records as per requirement of Companies Act 2013. Kindly note – cost reduction indirectly falls under the scope of cost accounting under the cost control. Cost reduction is an objective of cost accounting that aims at a more real and permanent reduction in the unit cost of goods/service without impairing their suitability for intended use. However, from the given options, this one is the closest to be eliminated.
When was the Lakhpati Didi Yojana launched?
South coastal Andhra Pradesh and Tamil Nadu gets sufficient amount of rainfall from which monsoon?
Which crop is called 'camel crop"?
Which is the example of insect juvenile hormone?
Which hormone is commonly used to induce parthenocarpy in plants?
Type of inheritance in which sudden appearance of a recessive phenotype in a pedigree, due to deletion of a masking dominant gene is refereed as:
Central Avian Research Institute, Izatnagar was established in which year?
Number of poultry batches can be reared in a year?
Suitable season for planting of root cutting:
The vibrant yellow color of egg yolk is a result of the presence of ______, which are naturally occurring compounds derived from the diet of the laying ...