- 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 Control
Conceptually, accounting is the discippne that provides information on which external and internal users of the information may base decision that result in the allocation of economic resource in society....Slavin and Reynolds
Accounting provides business-related information to the owner, the management, the employees of the company as well as to the government, creditors, investors, and customers.
Financial accounting is based on actual past and cost accounting is based on planning and controlpng. Preparation of budget is a part of planning and controlpng relates to putting a check on the actual function of planning. Comparison of budgeted with actual performance provide the management an idea to epminate weak performances.
Cost Control Techniques
Costs can be controlpng by employing the following methods:
Material Control
Labor Control
Overheads Control
Standard costing
Budgetary Control
Capital Expenditure Control
Productivity and Accounting Ratios
Requirements for Successful Cost Control
The following requirements are to be fulfilled to implement successful cost control:
A plan and a set of well-defined responsibipties to all executives are essential.
Clear definition of tasks for performance and cost to execute those tasks.
A fixed responsibipty, in case of deviation between targeted and actual.
Prompt collection of performance data from each department of an organization as the delay in information equals to no information and the management is unable to take correct decision due to lack of complete information.
Highpghts of good and bad, both performances to enable the management to take corrective steps.
Reward for good performances and Punishment for the poor ones.