Assignment Help - homework help

  Costing Systems

Introduction to Costing Systems

There are several costing systems employed in practice. These are explained as follow:

A. Historical Costing

Costs are determined only after they are acquired and that is why it is termed as historical costing system in this system. For instance, costs acquired in the month of April, 2007 might be determined and collected in the month of May. Such costing system is very helpful for conducting post-mortem examination of costs that is analysis of the costs acquired in the past. Historical costing system might not be helpful from cost control point of view but it positively point out a trend in the behaviour of costs and is helpful for estimation of costs in future.

B. Absorption Costing

Costs are absorbed in the product units irrespective of their nature in this type of costing system. Other words, all fixed and variable costs are absorbed in the products. It is relies on the principle that costs should be charged or absorbed to anything is being costed, either it is a cost unit, cost center.

C. Marginal Costing

Only variable costs are charged to the products and fixed costs are written off to the Costing Profit and Loss A/c in Marginal Costing. The standard followed in this case is that because fixed costs are mainly period costs, they should not come in into the production units. Obviously, the fixed costs will not enter in the inventories and they will be esteemed at marginal costs only.

D. Uniform Costing

This is not a different technique of costing but is the adoption of the same costing principles and procedures through various units of the same industry or by various undertakings through mutual agreement. Uniform costing make easy valid comparisons among organizations and assists in eliminating inefficiencies.

Latest technology based Cost Accounting Online Tutoring Assistance

Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Costing Systems homework help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Costing Systems, project ideas and tutorials. We provide email based Costing Systems homework help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Costing Systems. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Cost Accounting homework help and assignment help services. They use their experience, as they have solved thousands of the cost accounting assignments, which may help you to solve your complex issues of Costing Systems. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Home | Company Overview | Services | Discover Q&A | Sitemap | Contact Us | T & C | Refund Policy | Copyright Policy | Blog | Q&A | Directory

©TutorsGlobe All rights reserved 2022-2023.