Overheads Costs

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What is Idle time and its accounting treatment?

By Hasaan Fazal on March 28, 2013

Idle time is the simply the time for which labour has been paid for but no work has been done. Whereas inefficiency arises when labour is actually engaged on production but output is not as expected or simply not 100%. Idle time may arise out of normal or abnormal situations and it is the situation […]

Posted in Absorption and Marginal Costing, Absorption and Marginal Costing, ACCA, ACCA - F2, ACCA - F5, CA, CAT, CAT - T2, CAT - T4, CIMA, CIMA C02, Cost and Management Accounting, FIA, FMA, Job, Batch & Service Costing, Labour Costs, MA1, MA2, Module D, Overheads Costs, Relevant Costing & Decision Making | Leave a response

What is Normal costing?

By Hasaan Fazal on May 16, 2011

Right at the very start of cost accounting we understand that decision making is one of the crucial and an ongoing process in every organization. Managers have to decide about many things all the time and for this they need relevant and reliable information or to be specific complete information. This is where cost accounting […]

Posted in Absorption and Marginal Costing, Absorption and Marginal Costing, ACCA, ACCA - F2, ACCA - F5, CA, CAT, CAT - T4, CIMA, CIMA C01, Cost and Management Accounting, FIA, FMA, Module D, Overheads Costs, Relevant Costing & Decision Making, Short-term Decision Making | Leave a response