Computerised costing refers to the use of software and digital tools to calculate and manage costs associated with production, projects, or services within an organization. This approach enhances accuracy, efficiency, and real-time tracking of expenses compared to traditional manual methods. By automating data entry and analysis, businesses can make informed financial decisions, streamline budgeting processes, and improve overall cost management. Additionally, it often integrates with other financial systems, providing a comprehensive view of an organization’s financial health.
Computerised data is on a computer (well yah) and a paper database is on a peice of paper ( XD ). It is also easier with a Computerised database as it is easier!!!!! :D:D:D:D:D
Variable costing is called marginal costing while direct costing is separate concept.
outline the characteristics and purpose of: Job costing and process costing
Labour costing. Material costing
Methods of Costing The cost of products or services is determined using several methods. The use of a given method is dictated by such factors as: the nature of cost units, the production process, the mode of cost accumulation, the duration of work etc. The following are the well established methods of costing a. Job / Batch costing b. Contract costing c. Process costing d. Service costing Techniques of Costing Irrespective of the type of costing method being applied there are various approaches that could be adopted. These are:  Full Absorption costing  Marginal costing  standard costing using  absorption costing  marginal costing
computerised inventory
Folders on computers. e.g computerised Yellow page( computerised phone book).
Computerised data is on a computer (well yah) and a paper database is on a peice of paper ( XD ). It is also easier with a Computerised database as it is easier!!!!! :D:D:D:D:D
Job Order Costing Operation Costing Normal Costing Actual Costing Standard Costing Kaizen Costing Target Cost
the library
Variable costing is called marginal costing while direct costing is separate concept.
a job costing
CAM( computerised Aided Manufacture) is when you have workers being helped by computerised tools, CIM (computerised intergated manufacture) is when the whole process is computerised, in manufacture this usually uses robotic arms. These can manufacture 24/7 in needed, they can work very accurately ( they are faster and stronger than a human arm)
outline the characteristics and purpose of: Job costing and process costing
Folders on computers. e.g computerised Yellow page( computerised phone book). Normal phone books are paper-based database.
Labour costing. Material costing