Difference between Cost Accounting and Management

access_time 2019-02-07T04:34:28.555Z face CA N Raja
Cost accounting will record only quantitative aspects. various Management Accounting will record both quantitative as well as qualitative aspects.Second differences with respect to objective.The objective of cost accounting is to record cost of producing a product or providing a service where is obj...

Opportunity cost

access_time 2019-01-31T05:01:16.974Z face CA N Raja
Let’s say your company has got 10 million Bank deposit and it is earning interest from the deposit.Now company has taken a decision to finance that expansion project by withdrawing money from bank deposit .When company implements this decision it is going to lose that interest on the Bank deposit. S...

What are Overheads?

access_time 2019-01-29T05:04:59.916Z face Raja
What do we mean by overheads? overheads are nothing but expenditures which you cannot trace or identify with any particular cost or product. This is an expenditure which is incurred but you cannot trace this expenditure or identify this expenditure with any particular cost unit . It means that these...

First in first out method

access_time 2019-01-21T06:51:50.977Z face CA N Raja
Let us consider stores department as an example. which receives material when they are purchased and issues the materials for onsumption.When materials are issued for production, They have to be priced and closing stock of material have to be valued. If materials are issued for production at the pri...

joint products and byproducts

access_time 2018-12-26T06:41:38.166Z face CA N Raja
let us take products like gasoline, fuel oil, lubricants, paraffin, Coal Tar, kerosene all these products are produced from crude Petroleum what is significant here is all these products have equal importance they are simultaneously produced from the same process each of these products have signific...