Deriving the Hidden Benefits of Cost Accounting Records (Product Costing) as Prescribed under Companies (Cost Records and Audit) Rules 2014, Moving from Insight to Action

Authors

  • Krishan Singh Berk Cost & Management Consultant, Faridabad

DOI:

https://doi.org/10.33516/maj.v55i4.84-87p

Keywords:

No Keywords.

Abstract

“The creation, operation, alternation, and cessation of every action and function in an organization – whether within the private, public or voluntary sector – all consume economic resources. Measuring, accumulating, and assigning those resources to the organization’s various processes and outputs allows the structure and operation of the organization to be explained, understood, and improved. Costing, the accounting term that embraces these processes and expresses them using money as a common language, lies at the heart of managerial accountancy and, exercised intelligently, is among the most powerful disciples available to the professional accountants in business.â€

Evaluating and Improving Costing in Organizations - IFAC: International Good Practice Guidance.

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Published

2020-04-30

How to Cite

Berk, K. S. (2020). Deriving the Hidden Benefits of Cost Accounting Records (Product Costing) as Prescribed under Companies (Cost Records and Audit) Rules 2014, Moving from Insight to Action. The Management Accountant Journal, 55(4), 84–87. https://doi.org/10.33516/maj.v55i4.84-87p

Issue

Section

Cost Accounting Records

References

Conceptual Framework for Managerial Costing – Report of the IMA Managerial Costing Conceptual Framework Task Force 2013

Evaluating and Improving Costing in Organization-International Good Practice Guidance IFAC

HFMA-Guidance: Understanding the general Ledger for costing

Costing System Attributes that Support Good Decision Making: IMA 2019

Gheorghe Lepadatu-Professor at Christian University: The importance of the cost information in making decisions: Romanian Economic and Business Review - Vol.6 No 1.

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