COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with recording
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buying (e.g.‚ discounts); Buying different quality material from standard; Buying materials from a non‑usual source due to urgency; Utilising different labour from standard; Price changes due to economic conditions; scarcity of supplies; Choosing to incur additional discretionary fixed costs; More (or less) overtime hours used than budgeted. 2. Efficiency/usage/quantity variances: Standard is out of date‚ set without due care; Inefficient use of material/labour‚ deliberate or otherwise; Poor supervision/equipment/maintenance
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life‚ a child will be in many different situiation where they have to make their own choice of what to do. Personal choices are linked to indipendance‚ self esteem‚ maturity‚ own risk assesment‚ and knowledge. For example; a child may choose to have chips with there tea rather than vegtables. They may decide to snatch a toy of another person rather than asking for it or waiting their own turn. These nagative choices will effect how they behave and effect how others respond to them and treat them.
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Choice and Circumstance What happens when the life we choose for ourselves conflicts with the life that is chosen for us? “Shoplifters‚” by Maura Stanton‚ describes a group of shoplifters whose circumstances speak to the theme of isolation. They are alone‚ stealing by choice to fill the void they each share--a lack of relationship with another human. “Night Waitress‚” by Lynda Hull‚ describes a woman working the night shift by choice. The waitress complains to herself
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James Shoemaker English 1A 2/25/14 Freedom of choice Llosa’s opinion in “A Smoker’s Right” is that to do something bad for us such as smoking is our own choice and we should have the freedom to do those harmful or bad things if we so choose since it it our body and our lives. I agree with Llosa to an extent‚ It is not freedom if we don’t have a choice. Her use of suicide does throw my support of her opinion off a little because I do not feel as if suicide
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Timon Igeria UNDERACHIEVEMENT IN THE UNIVERSITY IS AS A RESULT OF STUDENTS BASING THEIR CHOICE OF PROGRAM ON PRESTIGE. Introduction "There is‚ perhaps‚ no college decision that is more thought-provoking‚ gut wrenching and rest-of-your life oriented--or disoriented--than the choice of a major." (St. John‚ 2000‚ p.22) The impact of a wrong or right choice transcends beyond the learning satisfaction because it is correlated with job stability and job satisfaction. One would expect a scholar
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William Glasser’s Choice Theory Jennifer Kingsley HHS310: H & HS Culture: The Helping Relationship Prof. Kari Merrill November 12‚ 2012 William Glasser’s Choice Theory The foundation of this theory is the simple belief that we alone are responsible for everything we do. This includes having the control over how we feel. If we are miserable‚ we have chosen to be miserable. If we are happy‚ a conscious decision was made to be happy. Considered to be
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COST OF PRODUCTION CONTENTS 1. Introduction 2. Types of costs 3.1 Opportunity‚ implicit and explicit costs 3.2 Fixed and variable costs 3.3 Average costs 3. Types of cost curves 4.4 Marginal cost curve 4.5 Average cost curves 4. Costs in Short run and in the Long run 5.6 Short run 5.7 Long run 5.8 Economies of scale 5. Cost analysis in the real world 6.9 Economies of scope 6.10 Experiential
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Clas 121 Day 2 In a context relevant to you‚ would you make the choice Achilles made? Achilles had a difficult choice that he had to make when faced with living a long but simple life or a short but glorified one. I would not make the same choice that Achilles made of returning home and living a long‚ but ordinary life‚ instead of a short‚ but a celebrated one if he had stayed and fought. The reason for this is because I’d rather have my life mean something than being unimportant. One hasn’t lived
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Consumer choice: Do I really want this? Can I afford it? Is there something better? Price: How much is it?This is usually one of the first things you want to know. If the price of a good is more than you can afford‚ you will probably not buy it. Consumers want the best value for their money: that is‚ they want to pay the lowest price for the best quality. Price is one of the main factors affecting consumer decisions. Age: As a baby‚ you most probably wanted a toy or rattle. Now you are a teenager
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