Basic query in accounting

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(Querist)
08 October 2013 Please explain.

In Accounting (Accounting standard-2)
Cost of conversion =Prime cost+Production overhead is given.
In cost accounting, cost of conversion=Direct labour+Production overhead is given

I will be very much thankful to you.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
08 October 2013 in as-2 Prime cost means direct material + direct labour+ direct exp and it is much wider then cost accounting.
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