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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Minimum Standards impact on Children’s Homes and what steps will need to be taken to ensure we achieve excellent outcomes for Children and Young People for the future. INTRODUCTION: This presentation aims to give a brief outline of the importance of the National Minimum Standards and where they fit within Ofsted and future inspections. I will then look at the ‘New’ values which have also been included as well as some of the changes which have been implemented since the previous Standards were printed
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INTERNATIONAL B-SCHOOL SUBJECT: FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000
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Accounting Standards and Their Importance AS-1: DISCLOSURE OF ACCOUNTING POLICIES The following is the text of the Accounting Standard (AS) 1 issued by the Accounting Standards Board‚ the Institute of Chartered Accountants of India on ’Disclosure of Accounting Policies’. The Standard deals with the disclosure of significant accounting policies followed in preparing and presenting financial statements. AS-2: VALUATION OF INVENTORIES A primary issue in accounting for inventories is the determination
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Cost Benefit Analysis A cost benefit analysis is done to determine how well‚ or how poorly‚ a planned action will turn out. Although a cost benefit analysis can be used for almost anything‚ it is most commonly done on financial questions. Since the cost benefit analysis relies on the addition of positive factors and the subtraction of negative ones to determine a net result‚ it is also known as running the numbers. A cost benefit analysis finds‚ quantifies‚ and adds all the positive factors. These
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or call Expedia at +1 949-930-9536. If you cancel directly with the hotel you may not receive a proper refund. Terms & Conditions • Unless otherwise stated in the room description‚ your credit card number is obtained only to secure your reservation and you will not be charged until you check out of the hotel unless the hotel requires a deposit ahead of your stay‚ in which case‚ its cancellation policy will apply with respect to your deposit. Check your room description for more details. • Bed
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plot; it is not a statement about a dominant impression or mood; it is not a moral or proposition; it is not the attitude of the writer. The theme in a story is associated with an idea that lies behind the story. (p.126). The name of the short story normally points to what the writer is saying. The other elements of the story include the plot‚ setting‚ point of view‚ tone‚ character‚ and symbolism. There are several themes from the short story “ A Worn Path” to include love and racism. The story is presented
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Terms and Conditions for Purchase Order 1) If unable to make shipment on date specified‚ notify procurement department at once. 2) No charges will be allowed for boxing‚ crating or cartage unless previously agreed. If through routing is not specified‚ ship by route providing lowest rate‚ otherwise excess will be charged to your Account. 3) The right is reserved to cancel this order if not fulfilled in accordance with our delivery schedule. 4) This order is subject to modification
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1. Demand Conditions 1.1. Potential Demand Despite the negative impact of the global economic crisis‚ the period of 2009 - 2010 has been a relatively favorable years for motorcycle manufacturers in Vietnam. It is presumed that there are an average of 6 people / unit‚ reflected in the increase in demand for vehicles exceeding the original forecasting. Especially‚ there could be a significant increase in scooters demand‚ presumed around 40% by Honda. 1.2. Future Demand According to the Institute
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Retail India Limited The Accounting Standards as per their 2011-12 Annual Report are- 1. AS 1: Disclosure of Accounting Policies- * It deals with disclosure of Accounting Principles and policies used for preparation of financial statements of the companies. 2. AS 2: Valuation of Inventories- * It deals with determination of amount of inventory to be shown in financial statements. It is not applicable to shares‚ debentures‚ stock etc. The cost formulae prescribed are FIFO‚ weighted
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