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Cost Accounting

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Cost Accounting

  1. 1. PRESENTATION ON COST ACCOUNTING<br />PRESENTED BY-<br />aamin<br />Imran<br />Gourav<br />matu<br />
  2. 2. DEFINATION<br /><ul><li>The process of identifying and evaluating production costs.
  3. 3. Cost accounting- A branch of accounting dealing with the classification , summarization and reporting of current and prospective</li></li></ul><li>COST ACCOUNTING ACTIVITIES<br /><ul><li>Cost determination
  4. 4. Cost recording
  5. 5. Cost analysing
  6. 6. Cost reporting</li></li></ul><li>DIFFERENT BETWEEN COST AND FINANNCIAL ACCOUNTING<br /><ul><li>Objectives
  7. 7. Mode of presentation
  8. 8. Recording
  9. 9. Analysing profit
  10. 10. Periodicity of reporting
  11. 11. Degree of accuracy</li></li></ul><li>IMPORTANCE OF COST ACCOUNTING<br /><ul><li>Aids in price fixation
  12. 12. Helps in estimates
  13. 13. Wastages are eliminated
  14. 14. Cost makes comparison possible
  15. 15. Provides data for periodical profit and loss
  16. 16. Aids in determining and enhancing efficiency</li></li></ul><li>ELEMENT OF COSTS<br />mATERIAL<br />LABOUR<br />EXPPENCE<br />INDIRECT<br />DIRECT<br />
  17. 17. COMPONENTS OF TOTAL COST<br /><ul><li>Prime cost
  18. 18. Factory cost
  19. 19. Office cost
  20. 20. Total cost or cost of sales</li></li></ul><li>COST SHEET<br />A document which provides for the assembly of the estimated detailed cost in respect of a cost center or a cost unit<br />
  21. 21. TYPES OF COST SHEET<br /><ul><li>Historical cost sheet
  22. 22. Estimated cost sheet</li></li></ul><li>IMPORTANCE OF COST SHEET<br /><ul><li>Ascertainment of cost
  23. 23. Controlling costs
  24. 24. Fixtation of selling cost
  25. 25. Submitting of tenders cost</li></li></ul><li>THANKYOU <br />ANY QUERY<br />

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