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Costing PPT

Costing PPT

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Published by minalsk

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Published by: minalsk on Feb 21, 2010
Copyright:Attribution Non-commercial


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CA P. Kamthekar1
Cost & Management AccountingCost & Management Accounting
presented by
CA Pradeep D. Kamthkar
M.Com., F.C.A., SET
CA P. Kamthekar2
Terminology of Cost :
Terminology of Cost :
Cost classification by elements, variability, cashflow etc.
By Elemensts :
Material Cost
Labour Cost
CA P. Kamthekar3
Terminology of Cost :
Terminology of Cost :
Material Cost :
 The substance from which the product is made is known as material. The cost incurred for same is known as material cost.
Labour Cost :
For conversion of materials into finished goods, human effort isneeded, such human effort is called as labour. The cost incurred forsame is known as labour cost.
Expenses :
Any other cost besides material and labour is termed as expense.

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