Titlebook: Cost Accounting; Analysis and Control W. Armand Layne Book 1984 Dr W. Armand Layne and Mr Colin Rickwood 1984 accounting.capital.cost accou

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Introduction to Cost Accounting,ounting is a conscious and rational procedure by accountants for accumulating cost. and relating such costs to specific products or departments for effective management action. Such costs are used in balance sheets and income statements for the purposes of stock valuation and income determination.

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,Job Costing, Unit Costing, Process Costing and Joint Product Costing — ‘The Quartet’,discrete systems. When products are made continuously, a process costing system emerges. Unit costing is applicable to both systems. Process manufacturing creates other products which are called joint products. Joint products give rise to by-products.

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Cost Estimation, about it; cost prediction can be accurate or inaccurate. The moot point underlying cost prediction, however, is that the management function can make use of the data via statistical analysis as guidelines for budgeting, choice of action in markets, and performance evaluation.

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Relevant Costs for Decisions,cept, but what is needed is an operational statement for accounting purposes. Horngren (1977) provides such a statement: ‘For a cost or revenue to be relevant to a particular decision, it must meet two criteria: (i) It must be an expected future cost; and (ii) it must be an element of difference between alternatives.

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Budgetary Planning,es first to capture, and secondly to coordinate all the heterogeneous activities — both human and physical—of the firm into a homogeneous plan of action. The management accountant plays an important role in that process.

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Overview: 978-0-333-36070-5978-1-349-17691-5

Exposition

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Globalsteuerung und Angebotspolitikdiscrete systems. When products are made continuously, a process costing system emerges. Unit costing is applicable to both systems. Process manufacturing creates other products which are called joint products. Joint products give rise to by-products.