cost accounting homework help, assignment help

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1. Introduction and basic concepts of costing

2. Elements of costs

i) Materials cost
ii) Labor cost
iii) Overhead cost

3. Methods of costing
i) Standard costing
ii) Marginal Costing
iii) Job costing
iv) Batch costing
v) Contract or Terminal costing
vi) Single or output costing
vii) Process costing
viii) Operation costing
ix) Departmental costing
x) Multiple costing
xi) Historical costing

4. Absorption Vs Variable costing

5. Cost allocation and cost absorption

6. Cost budgets

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Basic concepts of Costing

In any manufacturing activity understanding the nature and behavior of costs is of fundamental significance. The success of an enterprise in a highly competitive world depends on the ability of the organization to ascertain and control its costs.

Basic concept of costing

There are three important terms: i.e., costing, cost accounting and cost accountancy. The Institute of Cost and Works Accountants in England and Wales (now known as Cost and Management Accountants) has defined costing as “the technique of ascertaining costs”.

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Cost Accounting homework help

Cost accounting is a branch of accounting and its purpose is to lay down the principles and procedures to ascertain the costs correctly, analyze them scientifically and suggest measures to control them efficiently. In any manufacturing activity understanding the nature and behavior of costs is of fundamental significance. The success of an enterprise in a highly competitive world depends upon the ability of the organization to ascertain and control its costs. This is where cost accounting plays a vital role.

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