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.
Systematic Classification of Algae tutorial all along with the key concepts of Rhodophycophyta, Xanthophycophyta, Chrysophycophyta, Phaeoophycophyta, Bacillariophycophyta, Euglenophycophyta, Chlorophycophyta, Cryptophycophyta and Pyrrophycophyta
AICPA (American Institute of Certified Public Accountants), Financial Accounting Standards Board (FASB) statements and Interpretations, AICPA Accounting Research Bulletins (ARB) and Accounting Principles Board (APB) Opinions.
Basic concept of Structures-Assignment help, Homework help all along with the key concepts of Passing structure, Uses of Structure and Declaration of structure.
tutorsglobe.com electroencephalography assignment help-homework help by online cerebral cortex tutors
Phylum-Chordata tutorial all along with the key concepts of Features of Chordates, Protochordata, features of Vertebrates, categorization of Vertebrates, Developments in Vertebrates, Basic Chordate Body Plan, Adaptations of Fish and Maintenance Systems of fish
Interference by division of Wavefront tutorial all along with the key concepts of Wave motion, Transverse wave and longitudinal wave, Characteristics of waves, Principle of superposition, Young's double slit experiment, Fresnel's Biprism
Structure and Function of Membranes tutorial all along with the key concepts of Structure of Membranes, Functions of Membranes, Movement of Water through Membranes, Water Potential, Osmosis and Turgor
tutorsglobe.com wave nature of electrons assignment help-homework help by online atomic structure tutors
tutorsglobe.com algorithm and problem solving, defining the problem, problem solving strategies, divide and conquer strategy, dynamic programming, breaking the problem into sub problems and data structure, looping and iterations.
www.tutorsglobe.com offers phase equilibria homework help, phase equilibria assignment help, online tutoring assistance, physical chemistry solutions by online qualified tutor's help.
liquefaction of gases tutorial all along with the key concepts of history regarding liquefaction of gases, explanation of liquefaction of gases, uses of liquefied gases, critical temperature and pressure, methods of liquefaction, joule-thomson effect, applications of liquefaction of gases
gprs (general packet radio service) is a mobile data service presented to users of gsm mobile phones.
Theory and lecture notes of Graphs and Equations all along with the key concepts of graphs and equations, homework help, assignment help and understanding macroeconomics. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Graphs and Equations.
concerning profitability ratios, we observe that return on capital employed (roce) is considered as a key ratio through many businesses.
Heat Measurements tutorial all along with the key concepts of Concept of Heat, Specific Heat Capacity, Simple Method of Mixtures, Inclusion of Calorimeter in Method of Mixtures, Specific Latent Heat of Fusion, Latent Heat and Internal Energy
1959542
Questions Asked
3689
Tutors
1445257
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!