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A cost accounting system is used to analyze various types of cost,. It is used to help people and companies determine what their future financial goals should be.
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What is integration cost accounting system and nonintegrated cost accounting system?
An integrated accounting system requires a cash book and general journal, where a set of books contains inventory and cost accounting information. In non-integrated cost accounting, only a purchase account is required to record purchases.
Differentiate cost accounting system from financial accounting system?
Q.5 Differentiate Financial Accounting and Management accounting
What is accounting system and what their types?
An accounting system is a program or a system that is used in management and processing of accounts. Some of the types of accounting systems include management accounting, cost accounting, manual systems, double entry and so many others.
Why is cost accounting a system of foresight and not a postmortem examination?
right
What is cost accounting and its nature and scope?
Cost accounting is the internal reporting system. It includes cost recording and reporting and cost measurement or estimation. In addition, it includes cost planning, cost control, and cost analysis.
What is the Difference between integrated and interlocking accounting system?
Integrated system is one which combines the cost accounting and financial accounting functions in one system of ledger accounts while an interlocking system has a cost ledger for the cost accounting function and a financial ledger for the financial accounting function.
What is integration cost accounting system and nonintegrated cost accounting system?
An integrated accounting system requires a cash book and general journal, where a set of books contains inventory and cost accounting information. In non-integrated cost accounting, only a purchase account is required to record purchases.
Differentiate cost accounting system from financial accounting system?
Q.5 Differentiate Financial Accounting and Management accounting
What is the relationship between the contractor's cost estimating and cost accounting systems?
An accurate cost accounting system is the basic building block for a good cost estimating system.
What is the criticisms of current cost accounting method?
Itemise and evaluate the criticism of traditional cost of accounting system?
What are the two main inventory systems in cost accounting?
1 - Perpetual inventory system 2 -Periodic accounting system
What is accounting system and what their types?
An accounting system is a program or a system that is used in management and processing of accounts. Some of the types of accounting systems include management accounting, cost accounting, manual systems, double entry and so many others.
A variable cost system is an accounting system where standards are set for each manufacturing cost element?
True.
What type of accounting is used in the European countries?
(Flexible plan cost accounting and contribution margin accounting), a cost system that is widely used in Germany and other European countries
Why is cost accounting a system of foresight and not a postmortem examination?
right
What is cost accounting and its nature and scope?
Cost accounting is the internal reporting system. It includes cost recording and reporting and cost measurement or estimation. In addition, it includes cost planning, cost control, and cost analysis.
What is an accounting system?
The interlocking accounting is a system where the cost and financial accounts are maintained independently of each other, and in the cost account no attempt is made a aseparate record of the financial account transactiona
