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  Types of Cost Reports

Introduction to Types of Cost Reports

Cost reports may generally be classified into two categories:

(i) Routine reports.

(ii) Special reports.

Routine reports:

These reports are submitted to dissimilar levels of management according to a fixed time schedule. The schedule should point out the following:

(a) Title of the report.

(b) The recipients of the report and its copies.

(c) The periodicity of reporting.

(d) The respective dates on which the manuscript and the reports are to be sent.

(e) Sources of data and the date through which the data should be prepared at the particular sources. Routine reports are generally printed or cyclostyled, leaving blank spaces to be filled in. Following is a list of the significant routine reports that may be prepared in an industrial organisation:

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Copies of Reports denoted to higher levels are sent to lower levels. Reports initially addressed to lower levels are shortened and sent to higher levels.

Special reports:

Special reports are needed for special purposes. The reason of obtaining such type of reports, and the time limit in which such type of reports are to be submitted, has to be particularly and clearly laid down. Occasionally special staff may have to be used for the purpose. Special reports might need co-ordination of several departments or functions like industrial engineering, marketing etc. Instances of some of the particular reports are given below:

(i) Reports for detail about competitive products.

(ii) Report by Purchase Department on problems included in purchasing of materials.

(iii) Report through the cost accountant on the implications of price movements on the cost of the products.

(iv) Report concerning to market research about a particular product or products.

(v) Report concerning to choice of products or selection of a method of production when alternative choices are presented.

(vi) Report on cost-benefit analysis (involving non-cost considerations), when management has to decide between alternative courses of acts.

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