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Cost account

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 September 2013 what is the difference between cost statement and cost sheet from the point of view of objects.And Cost Accountant prepare both (cost sheet & cost statement) or single one.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
10 September 2013 Cost sheet is the detailed calculation of cost of the product. cost statement is the summary of the costs
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 September 2013 i Know Sir but i want to ask that company prapare both or single one.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
11 September 2013 need to prepare both, cost sheet for product or service. Cost statement for broader level consolidate all the products and services
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