Cost record formats
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 October 2013
Can anybody provide me the general formats of Cost Accounting Records?
CMA Ramesh Krishnan
(Expert)
11 October 2013
It is not having any standard format, it depends upon the industry it will differ, but format will comply the Generally Accepted Cost Accounting principles & practice & Cost Standards issued by ICAI-CMA.
Cost Accounting policy & Principles is the policy which is guide for how to maintain the Costing records. It will help us to record each and every transactions in the costing records and arrive the cost of the product or service or object. Example How to measure the cost of the product, which are the cost can be considered, how to fix the price of the product & what are the cost centres and profit centre etc
Cost Accounting policy & Principles is the policy which is guide for how to maintain the Costing records. It will help us to record each and every transactions in the costing records and arrive the cost of the product or service or object. Example How to measure the cost of the product, which are the cost can be considered, how to fix the price of the product & what are the cost centres and profit centre etc
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