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    Swami Nathan
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    The document discusses various accounting concepts like window dressing, balance sheets, profit and loss statements, and cost accounting. It explains how cost accounts help financial accounts by valuing inventory and cost of goods sold. It also outlines three broad areas where cost can provide information: products/services, planning/control, and decision making. Finally, it asks the reader to list cost objects they would like to know the cost of at work and provide examples of different types of costs like direct, driver-driven direct, and indirect costs.

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    The document discusses various accounting concepts like window dressing, balance sheets, profit and loss statements, and cost accounting. It explains how cost accounts help financial accounts by valuing inventory and cost of goods sold. It also outlines three broad areas where cost can provide information: products/services, planning/control, and decision making. Finally, it asks the reader to list cost objects they would like to know the cost of at work and provide examples of different types of costs like direct, driver-driven direct, and indirect costs.

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    Download as ODT, PDF, TXT or read online from Scribd
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    15 views2 pages

    Assignment I

    Uploaded by

    Swami Nathan
    The document discusses various accounting concepts like window dressing, balance sheets, profit and loss statements, and cost accounting. It explains how cost accounts help financial accounts by valuing inventory and cost of goods sold. It also outlines three broad areas where cost can provide information: products/services, planning/control, and decision making. Finally, it asks the reader to list cost objects they would like to know the cost of at work and provide examples of different types of costs like direct, driver-driven direct, and indirect costs.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as ODT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    window dressing: manipulating accounting statements

    accounting statements would only reflect what has happened and what should happened. It wouldnt have included repairs and expenditures.

    all accounting statements pertained to sophisticate balance sheet and not on PL statements.

    cost accounts help financial accounts in the following methods: value inventory and value cost to goods sold(cogs) unit cost mightnot be the same for all the products produced.

    3 broad areas which cost can be providing information on: products and services planning and control decision making.

    cost management system must provide the information abt the integration of non financial transactions. etc.

    2 subsystems: cost accounting info system operational control system process efficiency.

    assignment I: in your work atmosphere, list out all the items for which you would like to know the cost

    why and for what reason you would like to know the cost? examples of cost objects of P and G 1. product , service project, customer, brand category, acivity and department. Assn II give me an example of each cost object 1. direct cost 2. driver driven direct cost 3. indirect cost. (first state the resources and then state the cost)

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