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7 Methods of accounting online for CS Executive


Methods of accounting online for CS Executive – Cost & Management Accounting


While preparing for CS Preparation, we must have studied in details about Cost and Management Accounting. So, in continuation of our previous blog, in this, we are discussing the different “ Methods of Accounting”.
So, Let us have a look:- According to different industries, there are different methods of costing also:
 Unit Costing:
  1. This is also called as Single Costing/Output Costing.
  2. As the name follows, costing method is prepared by the industries engaged in the production of a single product.
  3. For example Shoes, Pens, Markers, Coal, Bricks, etc.
  4. Cost sheet (a detailed statement of Cost of Sales) of a product is drafted.
  5. The Target is to calculate Cost per unit, i.e Cost/No. of units produced
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Operating Costing:
  1. Operating costing method is used by the Service Providing Industries.
  2. For example- Transportation, Hotels, Hospitals, Educational Institutes, etc.
  3. Here the Cost unit of the industry is identified & calculated.
  4. The Cost of operating a business is divided in Standing & Running Charges.
Contact Costing:
  1. Done for Construction businesses by the Contractors.
  2. For example – Bridge Construction.


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