Processing System of Telenor
ABSTRACT This study was conducted to find out the cost accumulation procedure of Telenor. During this research work it was found that Telenor is involved in cost accumulation procedure and they are doing it with the help of information system where they collect and maintain a database of the expenses incurred by a business in the course of its operation. During this research work it was found that they are using process costing system. I will be discussing particularly Telenor in the light of this topic so that this study can ultimately have useful meaning.
It was very difficult in the beginning to start working on this topic but guidelines which were given in assignment helped me a lot so I was able to complete this assignment at its best.
1. COST ACCUMULATION METHODS
1.1 Management Accounting
Accounting is the process of accumulation, classifying, interpreting and presenting financial information. Financial accounting is that basic process with management, investor, creditors and other eternal parties as the users of the accounting information. Management accounting involves accumulating, classifying, interpreting and presenting financial data primary for management and other insiders.
1.2 Cost Accounting
A type of accounting process that aims to capture a company 's costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment. Cost accounting will first measure and record these costs individually, then compare input results to output or actual results to aid company management in measuring financial performance
A budget, the key to planning and controlling involves cost accounting data. Where to set and optimal price for a product or service cannot be decided without knowing the cost of what is to be sold.
1.3 Cost Accumulation Procedure
The use of an accounting system to collect and maintain a database of the expenses incurred by a
It was very difficult in the beginning to start working on this topic but guidelines which were given in assignment helped me a lot so I was able to complete this assignment at its best.
1. COST ACCUMULATION METHODS
1.1 Management Accounting
Accounting is the process of accumulation, classifying, interpreting and presenting financial information. Financial accounting is that basic process with management, investor, creditors and other eternal parties as the users of the accounting information. Management accounting involves accumulating, classifying, interpreting and presenting financial data primary for management and other insiders.
1.2 Cost Accounting
A type of accounting process that aims to capture a company 's costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment. Cost accounting will first measure and record these costs individually, then compare input results to output or actual results to aid company management in measuring financial performance
A budget, the key to planning and controlling involves cost accounting data. Where to set and optimal price for a product or service cannot be decided without knowing the cost of what is to be sold.
1.3 Cost Accumulation Procedure
The use of an accounting system to collect and maintain a database of the expenses incurred by a
References: * http://telenor.com.pk/ * http://en.wikipedia.org/wiki/Process_costing * http://www.answers.com/topic/cost-accumulation * Jae K. Shim, Joel G. Siegel (2009, 2000, 1992). Modern Cost Management and Analysis 3rd Ed. Barron 's Education Series, Inc. ISBN 978-0-7641-4103-4. * Bhabatosh Banerjee. Cost Accounting Theory And Practice 12Th Ed.