Costing

Please Tell Me the Difference B/w

Types of Costing and Methods of costing

Methods of costing

As per the nature and peculiarities of the business, different Industries follow different methods to find out the cost of their product. There are different principles and procedure for doing the costing. However the basic principle and procedure of costing remain the same. Some of the methods are mentioned below:

1. Unit Costing
2. Job Costing
3. Contract Costing
4. Batch Costing
5. operating Costing
6. Process Costing.
7. Multiple Costing
8. Uniform Costing..

Types of Costing

There are different types or techniques of costings are used in cost accounting. Different types of costing is used in different industries to analyze and presenting costs for the purposes of control and managerial decisions. The generally used types of costing are as follows:

Marginal Costing

Absorption Costing

Standard costing

Historical Costing