Tag Archives | cost

Short period: Various types of short-run cost curves explained

Short period: Various types of short-run cost curves explained. Short period is a period of time which is not sufficient enough to allow supply to be fully adjusted with the increased demand. In short-period certain inputs can’t be increased or decreased.

7 essentials of a good Cost Accounting System

The essential features, which a good Cost Accounting System should possess, are as follows: Cost Accounting System should be tailor-made, practical, simple and capable of meeting the requirements of a business concern.

9 essential factors for installing cost accounting system

As in the case of every other form of activity, it should be considered whether it would be profitable to have a cost accounting system. The benefits from such a system must exceed the amount to be spent on it.

11 advantages of a good cost accounting system

Important advantages of a Cost Accounting System may be listed as below : A good Cost Accounting System helps in identifying unprofitable activities, losses or inefficiencies in any form.

5 essential objectives of Cost Accounting

The main objectives of Cost Accounting are as follows : (i) Ascertainment of cost, (ii) Determination of selling price, (iii) Cost control and cost reduction, (iv) Ascertaining the profit of each activity, (v) Assisting management in decision-making.

Write brief note on Cost-push Inflation and its elements

A cost-push inflation is the one in which price rise is initiated and sustained by increasing prices of inputs or similar other causes. In economic theory, an increase in money rates is mentioned as the main reason of an increase in production costs.

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