Skip to main content

Attributable/ Traceability/Identification point of view - CS Executive

Online cs classes : This article is presented & organized by Takshila Learning,who is engaged in providing online courses to learners pan-India.Among our major portfolios, we are specialized in CS online classes.For CS Foundation, Executive & Professional online classes, click on link for CS Executive video lectures for free download.In continuation to our earlier post, today we are going to discuss the ‘Classification of Cost’.
Cost is resources sacrificed to sell a product or render a service but it can be classified from a different point of view:
Direct Cost: Cost directly attributes to a specific cost center, i.e. specific Timber for a chair.
Indirect Cost:Cost which is not specifically attributable to a Cost Center, which is a common cost for a number of cost centers, E.g. Fevicol for multiple types of furniture’s.
Elements point of view:
Materials Cost: The raw inputs being consumed for manufacturing a final product. It can be of two types: Direct & Indirect Material.
Direct material is the starting point of production. It is part of Prime Cost. Direct Material is directly attributable to a specific cost center.For example:Timber for furniture.

Get CS EXECUTIVE ONLINE CLASSES – COST AND MANAGEMENT ACCOUNTING AT www.takshilalearning.com

For more of CS Executive online classes, visit www.takshilalearning.com

Call us: 8800999280/8800999284

Comments

Post a Comment

Thank you we will contact ASAP.

Popular posts from this blog

Lessons-Worksheets-Question Papers-CBSE Class 2 English

Lessons-Worksheets-Question Papers-CBSE Class 2 English CBSE 2nd Class English – One and Many  In this blog, we share the spelling rules used in the concept of  One  and Many. When there is only one of a naming word (noun), it is said to be a  singular noun . When a noun shows more than one, it is said to be in the  plural . We can add  –S, -es, -ves or ies  to show that there is more than one noun.  For example,  we say many birds, four biscuits, six brushes. But for the students of  Class 2 , it’s very difficult and confusing to understand where to use  s , es, ves or ies  in the form of many. Don’t worry, it looks difficult, but it is very easy as in grammar each concept has a set of rules that need to practice. Noun ending with  –s, -x, -o, -sh, -ch, and –ss  form plurals by taking  –es. Look at these pairs of words: Bus – Buses Brush – Brushes Continue ..... Click here ...
Post a Comment
Read more

Class 3 English Practice Grammar Worksheet -The Adverb

 Class 3 English Practice Grammar Worksheet -The Adverb Class 3 English – The Adverb – Kinds of Adverb Fill in the blanks with suitable Adverbs of place. Choose from the box.  Up               outside                       everywhere                 back                down      away          here                           there                     ...
Post a Comment
Read more

PURCHASED GOODWILL METHOD UNDER IND AS 103

The acquisition of subsidiaries results in  Goodwill calculation  and also records net assets of the subsidiary at fair value on the date of acquisition. Let’s get answers to all the questions related to Goodwill, valuation of NCI, and impairment relating to them. Q1 – What are the ways in which an entity can make payment for purchase consideration? ANS: – Cash – Share exchange – Deferred payment – Contingent consideration Q2 – How is deferred payment dealt, when it forms part of purchase consideration? ANS:  The deferred payment is discounted to present value and included in the cost of consideration. At the end of each year, the liability is increased by unwinding the discount, until the payment is settled. For example, An amount of Rs. 108,000 was deferred to be paid after 2 years. The discount rate applicable is 8%. The net present value today of Rs. 108,000 is equal to (108,000 * 1) / (1.08) ^2)= Rs. 92,593 included in purchase consideration. A liability of Rs. 92,59...
Post a Comment
Read more