Classification of Cost according to 4 functions: This is a traditional classification. A business has to perform several functions like…
Top 17 Cost concepts in Cost accounting: They are; 1) Product and period costs, 2) Common and joint costs, 3)…
The techniques and methods of costing in Cost accounting are to explain their points one by one. First, Techniques of…
Importance of Cost accounting: Cost accounting is the accounting of the cost. It is made of two words-Cost and Accounting.…
Types and utility of Accounting; This article in we discuss first the utility of accounting after that we will finally…
Labor costs represent human contribution. Labor cost is sensitive. The second Major element of cost in most of the manufacturing…
What is the Usefulness of Cost Accounting? The shortcomings inherent in financial accounting have made the management to realize the…
What is the Time Value of Money? If an individual behaves rationally, then he would not equate money in hand…
Understand Future Cost and Historical Cost; Future cost of capital refers to the expected cost of funds to be raised…
What is Opportunity Cost? Opportunity cost analysis is an important part of a company’s decision-making processes; but, does not treat…
