In this slide presentation you will be introduced to the methods of Cost Accounting and why business organizations should follow methods of cost accounting impeccably. In this it is important to establish budget and actual cost of operations, processes, departments or products and the analysis of variances, profitability or social use of funds. This Slideshare will offer insight to entrepreneurs.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This Slideshare is the sole Property of the Welingkar School of Distance Learning – Reproduction of this material , without prior consent, either wholly or partially will treated as a violation of copyright.
In this slide presentation you will be introduced to the methods of Cost Accounting and why business organizations should follow methods of cost accounting impeccably. In this it is important to establish budget and actual cost of operations, processes, departments or products and the analysis of variances, profitability or social use of funds. This Slideshare will offer insight to entrepreneurs.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This Slideshare is the sole Property of the Welingkar School of Distance Learning – Reproduction of this material , without prior consent, either wholly or partially will treated as a violation of copyright.
MARGINAL COSTING AS A TOOL FOR DECISION MAKINGShubham Boni
DON'T FORGET TO LIKE AND SHARE THE PRESENTATION.
MARGINAL COST:-
“Marginal cost is the additional cost of producing an additional unit of product.”
MARGINAL COSTING:-
“In Marginal costing technique, only variable costs are charged as product costs and included in inventory valuation.”
MARGINAL COSTING HELPS IN DECISION MAKING:-
1.Fixation of Selling Price.
2.Exploring New markets.
3.Make or buy decisions.
4.Product mix
5.Operate plant or shut down.
CASE STUDY 1:-
MAKE OR BUY DECISION.
CASE STUDY 2:-
PRODUCT MIX.
01.Understand the concept of ‘Overheads’.
02.Understand classification, allocation, apportionment and absorption of overheads.
03. Understand the Primary and Secondary Distribution of Overheads.
04. Understand the Traditional & Activity Based Costing methods
05. Identify the value added & non value added activity
A power point presentation describing some basic definitions, father of cost accounting, Indian aspect of cost accounting and Various Methods and Techniques of costing.
Presented by: Aquib Ali, Ajay Gupta and Ashwin Showi. (M.Com students)
at the Bhopal School of Social Sciences(BSSS) on 6 September, 2017
MARGINAL COSTING AS A TOOL FOR DECISION MAKINGShubham Boni
DON'T FORGET TO LIKE AND SHARE THE PRESENTATION.
MARGINAL COST:-
“Marginal cost is the additional cost of producing an additional unit of product.”
MARGINAL COSTING:-
“In Marginal costing technique, only variable costs are charged as product costs and included in inventory valuation.”
MARGINAL COSTING HELPS IN DECISION MAKING:-
1.Fixation of Selling Price.
2.Exploring New markets.
3.Make or buy decisions.
4.Product mix
5.Operate plant or shut down.
CASE STUDY 1:-
MAKE OR BUY DECISION.
CASE STUDY 2:-
PRODUCT MIX.
01.Understand the concept of ‘Overheads’.
02.Understand classification, allocation, apportionment and absorption of overheads.
03. Understand the Primary and Secondary Distribution of Overheads.
04. Understand the Traditional & Activity Based Costing methods
05. Identify the value added & non value added activity
A power point presentation describing some basic definitions, father of cost accounting, Indian aspect of cost accounting and Various Methods and Techniques of costing.
Presented by: Aquib Ali, Ajay Gupta and Ashwin Showi. (M.Com students)
at the Bhopal School of Social Sciences(BSSS) on 6 September, 2017
This powerpoint presentation is created by Gyanbikash.com for the students of class nine to ten from their accounting NCTB textbook for multimedia class.
UNIT - IV: COST CONCEPTS: Classification of costs - Direct and Indirect expenses- Cost
Sheet - Unit Costing - Job Costing - Mechanics & Application of Marginal Costing in terms of
cost control - Profit Planning - concept of CVP relationship; BEP and their applications.
1.1 identify the elements of costs
1.2 understand various classification of costs
1.3 identify the cost unit
1.4 identify the cost center
1.5 exercise regarding costs concepts
Ppt on Cost accounting and its classifications Susheel Tiwari
Content:
》Cost accounting Meaning.
》Types
》Classifications
Cost accounting is the classifying, recording and appropriate allocation of expenditure for the determination of the costs of products or services, and for the presentation of suitably arranged data for purposes of control and guidance of management.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
1. Content:
Cost Accounting
Meaning, Objectives , Scope
and Importance,
Concepts of Costs
Classification of Cost
Elements of Cost
Cost Center and Cost Unit
Methods of Costing
Techniques of Costing
Role of Accountant in Decision
Making.
Module 1:
Introduction to
Cost &
Management
Accounting
2. Reason for failure
Pricing Problems
Poor Localization
Excise Duty
Design
Import of Engine
Uncertainty of JV
Background
Sales forecast
Financial Impact
3. Meaning of Costing
CIMA, London defines costing as, “the
techniques and processes of ascertaining
costs.”
It consists of principles and rules which are
used for determining;
The cost of manufacturing a product Eg; motor
car, furniture, chemical, paper etc.
The cost of providing a service Eg: electricity,
transport, education etc.
4. Meaning of Cost Accounting
CIMA, London defines Cost Accounting as
“it is the process of accounting for costs from
the point of which expenditure is incurred or
committed to the establishment of its ultimate
relationship with cost centers and cost units.”
Difference between Costing and Cost
Accounting:
Costing is basically finding out cost of products
or services by any technique or method.
Cost Accounting is application of double entry
system for recording costs.
5. Main Objectives of Cost
Accounting
To analyze and classify all expenditures with
reference to cost of products and operations
To arrive at the Cost of Production of every unit,
job and to develop cost standard
To indicate to the Management any inefficiencies
for remedial measures
To provide periodical data for P&L, B/S
To reveal sources of economies in production
having regard to methods, type of equipment,
design etc.
To provide actual figures of cost for comparison
with estimates so as to help in price-fixing policy
6. Importance of Cost Accounting
Costing as an Aid to Management
Cost Accounting helps in periods of Trade
depression and Trade Competition
Cost Accounting Aids Price Fixation
Cost Accounting helps in making estimates
CA helps in channelizing production on right
lines
CA eliminates wastages
CA makes comparison possible
CA provide data for periodical P&L
CA helps in inventory Control
7. Importance of Cost Accounting
Costing as an Aid to Management
Costing as an Aid to Creditors
Costing as an Aid to Employees
Costing as an Aid to National Economy
8. Scope of Cost Accounting
Cost Ascertainment
Control of Costs
Proper Matching of
Cost with Revenue
Aids to Management
Decision Making
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9. Concept of Cost
Cost is “price paid for something”.
The amount of expenditure incurred for production
of goods and services.
Cost represents the resources that have been or
must be sacrificed to attain a particular objective.
Resource may be tangible(money, materials,
machinery) or they may take form of
services(wages, rent, power).
Cost is composed of three elements;
Material, Labour, Expenses
13. Classification of Costs
Production Cost
or Works Cost or
Factory cost or
Manu. Cost.
Administrativ
e
Cost
Selling Costs
Distribution
Cost
Elements
Behavior
Functions
15. Elements of Cost
Material Cost:
Cost of commodities supplied to an undertaking.
Material Cost includes;
Cost of procurement, freight inwards, taxes, insurance etc.
Direct Material Cost:
DMC is that which can be conveniently identified with and allocated
to cost units. DMC becomes a part of finished product.
Ex: Clay in bricks, Leather in shoes, Steel in machines, cloth in
garment, timber in furniture.
Indirect Material Cost:
Cost incurred on those materials which cannot be conveniently
identified with individual cost units.
These are small and relatively inexpensive items which may or may
not physically become a part of finished product.
Eg: pins, screws, nuts & blots, grease, lubricating oil etc.
16. Elements of Cost
Labour Cost:
This the “the cost of remuneration (wages, salaries, commission,
bonuses) of the employees of an undertaking.
It includes all fringe benefits like: PF, Gratuity, ESI, overtime pay,
incentive bonus, wages for holiday, idle time.
Direct Labour Cost:
DLC consists of wages paid to workers directly engaged in
converting raw materials into finished product. DLC can be
identified with a particular product, job or process.
Eg: Machine Operator, Shoe-maker, carpenter, weaver, Tailor.
Indirect Labour Cost:
Indirect labour is not directly engaged in the production operations
but only to assist or help in production operations.
Ex: Supervisor, Inspector, Cleaner, Clerk, Peon, Watchmen.
17. Elements of Cost
Expenses:
All costs other than material and labour are termed as
Expenses.
Expenses is defined as “the cost of services provided to an
undertaking and the notional cost of the use of owned assets”
Direct Expenses/Chargeable Expenses:
Direct Expenses are those expenses that can be identified
with and allocated to cost centers or units”
These expenses are particularly incurred in connection with a
particular job or cost unit.
Indirect Expenses:
All Indirect costs other than indirect materials and indirect
labor costs are termed as Indirect Expenses.
Expenses which cannot be directly identified with a particular
job, process or work order and are common to cost units or
cost centers.
18. Direct Expenses
Hire of special plant for a
particular job.
Travelling expense in
securing a particular
contract.
Cost of patent rights
Experimental costs
Cost of special drawings,
designs and layouts.
Job processing charges
Royalty paid in mining
Depreciation or hire of a
plant used on a contract at
site.
Indirect Expenses
Rent and Rates
Depreciation
Lighting and Power
Insurance
Repairs
19. Classification of Cost based on
Function
Production Cost/Factory Overhead/Works Overhead or
manufacturing Overhead
These are the overheads which are concerned with the
production function.
It includes indirect materials, Indirect labor and Indirect
expenses in producing goods and services.
Indirect Materials: pins, screws, nuts & blots, grease, lubricating oil
etc.
Indirect Labour: Supervisor, Inspector, Cleaner, Clerk, Peon,
Watchmen.
Indirect Expense: Rent and Rates,Depreciation,Lighting and Power,
Insurance,Repairs
20. Administrative Cost/Overhead
It is the indirect expediture incurred in general administrative
function.
These overhead are of general character and have no direct
connection with production or sales activities.
Indirect Materials: Stationery used in general administrative office,
postage,, printing etc.
Indirect Labour: Salary of office staff, managing director,
remuneration to directors etc.
Indirect Expense: Rent of office building, office lighting and power,
telephone expenses, depreciation on office furniture etc.
21. Selling and Distribution Cost/Overhead
Selling overhead is the cost of promoting sales and retaining
customers.
It is defined as “ the cost of seeking to create and stimulate
demand and of securing orders”
Eg: Advertisements, samples and free gifts, salaries of
salesmen etc.
Distribution cost includes all expenditure incurred from the
time the product is completed until it reaches its destination.
Eg: Carriage outwards, insurance of goods in transit, upkeep
of delivery vans, warehousing etc.
22. Classification of Cost based on
Behavior
Cost behave differently when level of production rise or falls.
Certain costs changes with production level while other costs
remain unchanged.
On basis of behavior or variabiltiy costs are classified into
Fixed Cost
Variable Cost
Semi-Variable Cost
23. Fixed Cost
These costs remain constant in total amount over a specific
range of activity for a specified period of time.
Fixed cost do not increase or decrease when the volume of
production changes.
Ex: Rent and lease, Managerial Salaries, Building Insurance,
Salaries & Wages of permanent Staff, Municipal Tax.
1 2 3 4 5
No. of Units Purchased 1 2 20 200 2000
Total Fixed Cost Rs. 20000 20000 20000 20000 20000
Fixed Cost per unit Rs. 20000 10000 1000 100 10
0
5000
10000
15000
20000
25000
Fixed
Cost
Per
Unit
Rs.
Fixed Cost
24. Variable Cost
These costs tend to vary in direct proportion to the volume of
output.
Variable Cost per unit remains fixed.
Variable cost can be controlled by functional managers.
Ex: Direct Materials, Wages, Power, Commission on Salesmen
etc.
25. Semi-Variable or Semi-Fixed costs
These costs include both a fixed and a variable
component.
These costs are partly fixed and partly variable.
Semi-variable cost has a fixed element below which it
will not fall at any level of output.
Variable element in semi-variable costs changes either
at a constant rate or in lumps.
Ex: Introduction of an additional shift in the factory will
require additional supervisors.
Telephone expense, Power etc.
26. Cost Centre
Acc to ICMA (The chartered Institute of Management
Accountant), London define cost centre as “ a location,
person or item of equipment(or group of these) for which
costs may be ascertained and used for the purpose of
control.”
IOW Cost centre refers to a section of the business to
which costs can be charged.
The purpose of ascertaining the cost of cost centre is to
control cost.
A cost centre is charged with all the costs that relate to it.
Eg: If a cost centre is a machine, it will be charged with the
cost of power, light, depreciation and its share of rent etc.
Types of Cost Centres:
Personal Cost Centre
Impersonal Cost Centre
27. Cost Unit
Cost unit is the unit of measurement of cost.
Cost unit is defined as a “unit of product or service in
relation to which costs are ascertained”
Cost units are of two types:
Units of Production: a tonne of steel, a metre of cable, a
ream of paper etc.
Units of Service : Passenger miles, cinema seats,
consulting hours etc.
28. Factors influencing the Selection of
Cost Center or Cost units
Organization of the factory
Condition of incidence of cost
Requirements of the costing system
Availability of information
Management policy regarding making a
particular choice from several alternatives
29. Method of Costing
The principles in every method of costing are same but
the methods of analyzing and presenting the costs differ
with the nature of business.
Job Costing
Contract Costing
Batch Costing
Process Costing
Operating Costing
Unit Costing (Output Costing or Single Costing)
Multiple Costing (Composite Costing)
30. Techniques of Costing
The following techniques of costing are used by
the management for controlling costs and
making managerial decisions.
Historical (Conventional) Costing
Standard Costing
Marginal Costing
Uniform Costing
Direct Costing
Absorption Costing
Activity Based Costing
31. Role of Accountant in Decision
Making
Cost Accountant Perform action as under:
To Analyze material, labor and overhead
expenses
To reconcile daily production with accounting
transactions
To coordinate with R&D for production of new
items
To assist the controller in developing cost
improvement opportunities
To prepare new product costing to determine the
feasibility and profitability before it is launched.
32. Summary
Cost Accounting
Meaning, Objectives , Scope and Importance,
Concepts of Costs
Classification of Cost
Elements of Cost
Cost Center and Cost Unit
Methods of Costing
Techniques of Costing
Role of Accountant in Decision Making.