Accounting Manias

CHARACTERISTICS & INSTALLATION OF COSTING SYSTEM The main objective of introduction of a Cost Accounting System in a manufacturing organisation are ascertainment of cost, determination of selling price, cost control and cost reduction, ascertainment of profit of each activity and assisting in managerial decision making. Installation of a Costing System   The fundamental factors that a Cost Accountant should consider while introducing a system of costing are: i)                     The existing organisation should be disturbed as little as possible. ii)                    There should be a gradual and smooth introduction of the system. iii)                  While over elaboration of records should be avoi...