Accounting Basics Tutorial
Financial Accounting
Cost Accounting
Cost Accounting Techniques
Management Accounting
Accounting Useful Resources
Selected Reading
- Accounting - Systems
- Accounting - Conventions
- Accounting - Basic Concepts
- Accounting - Process
- Accounting - Overview
- Accounting - Home
Financial Accounting
- Financial Accounting - Depreciation
- Financial Accounting - Books
- Financial Accounting - Ledger
- Financial Accounting - Journal
Cost Accounting
- Cost Accounting - Budgeting
- Cost Accounting - Cost Reduction
- Cost Accounting - Cost Control
- Cost Accounting - Cost Sheet
- Cost Accounting - Elements of Cost
- Cost Accounting - Cost Classification
- Cost Accounting - vs. Financial A/c
- Cost Accounting - Advantages
- Cost Accounting - Introduction
Cost Accounting Techniques
- Cost Accounting - CVP Analysis
- Cost Accounting - Variance Analysis
- Cost Accounting - Standard Costing
- Cost Accounting - Marginal Costing
Management Accounting
- Management A/c - Working Capital
- Management A/c - Useful Ratios
- Management A/c - Ratio Analysis
- Management A/c - Cash Flow
- Management A/c - vs. Financial A/c
- Management A/c - vs. Cost A/c
- Management A/c - Introduction
Accounting Useful Resources
Selected Reading
- Who is Who
- Computer Glossary
- HR Interview Questions
- Effective Resume Writing
- Questions and Answers
- UPSC IAS Exams Notes
Cost Accounting - Cost Sheet
Cost Accounting - Cost Sheet
A cost sheet is prepared to know the outcome and breakup of costs for a particular accounting period. Columnar form is most popular. Although cost sheets are prepared as per the requirements of the management, the information to be incorporated in a cost sheet should comprise of cost per unit and the total cost for the current period along with the cost per unit and the total cost of preceding period. Data of financial statement is used for preparation of cost sheet. Therefore, reconcipation of cost sheet and financial statement should be done on a regular interval.
Format
|
COST SHEET OR STATEMENT OF COST Total Units……… |
||
|---|---|---|
| Opening Stock of Raw material | ... ... ... ... | ... ... ... ... |
| Add: Purchases | ... ... ... ... | ... ... ... ... |
| ... ... ... ... | ... ... ... ... | |
| Less: Closing Stock | ... ... ... ... | ... ... ... ... |
| Cost of material Consumed → | ... ... ... ... | ... ... ... ... |
| Add: Direct Labor/Wages | ... ... ... ... | ... ... ... ... |
| Prime Cost → | ... ... ... ... | ... ... ... ... |
| Add: Works overheads | ... ... ... ... | ... ... ... ... |
| Works Cost → | ... ... ... ... | ... ... ... ... |
| Add: Administration overheads | ... ... ... ... | ... ... ... ... |
| Cost of Production → | ... ... ... ... | ... ... ... ... |
| Add: Selpng and distribution overheads | ... ... ... ... | ... ... ... ... |
| Total Cost or Cost of Sale → | ... ... ... ... | ... ... ... ... |