Pre-requisites for accomplishment of uniform cost
Write down the pre-requisites for triumphant accomplishment of uniform costing?
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The pre-requisites for triumphant accomplishment of uniform costing are illustrated below: -Firms in the industry must have communal faith and motivation to share relevant information. -A spirit of cooperation must be there between the participating firms -Free exchange of thoughts, techniques employed. -superior firms must take the lead to distribute with smaller firms, their knowledge, accomplishments of effectiveness, improvements and know how to facilitate the later to get better their performance. -No withholding or hiding of information. -No challenge, competition between the competitors. -Uniformity should be recognized with look upon to several subsequent points before introducing uniform costing in the industry:
i) Size of the units in the industry ii) Production methods iii) Accounting principles, methods employed
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