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a costing system that does not divide cost by function or allocation or een by each part of the manufacturing process. it takes a total cost and divides it by each part of the process. so essentially each part of the manufacturing process is assigned an equal estimated cost.
A traditional economic system would have to be a system based on the tradition of a particular region. that would imply that virtually every country has an economic system that is traditional.
Kazakhstan has a Traditional economy
Traditional.
traditional economic system command economic system market economic system
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Itemise and evaluate the criticism of traditional cost of accounting system?
one of the most limitation of accounting is measurement by historical cost
advancing finances
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In traditional cost system overheads are allocated to products based on predetermined rate and that’s why some of that cost which is not related to that product charged to it and due to which actual cost of product cannot be determined.
it is advancing finance