financila institutions slides

Feb 3rd, 2012
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this document is very helpful and knowledgeable for those who want to study business and finance. here are some knowledge for the finance students that can help in papers as well as in general knowledge

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2-1Basic Cost Accounting ConceptsBBA 4th Semester2-2What is Cost Accounting?The branch of accountingthatdealswithcalculation of cost perunit, management ofcost per unit and controlof cost per unit is calledcost accounting2-3Objectives of Cost Accounting1-To calculate accurate profit2-To calculate correct value of endinginventories3-To calculate correct value of C.G.S4- To calculate accurate price of Goods2-4Learning Objective 1Identify and giveexamples of each of thethree basicmanufacturing costcategories.2-5Classifications of Manufacturing CostsDirectMaterialsDirectLaborThe ProductManufacturingOverhead or FOH2-6Direct MaterialsRaw materials that become an integralpart of the product and that can beeasily traceableExample: Tyres in an automobile2-7Direct LaborThose labor costs that can be easilytraced to individual units of product.Example: Wages paid to automobile assembly workers2-8Manufacturing OverheadManufacturing costs that cannot be easilytraced directly to specific units produced.Examples: Indirect materials and indirect laborMaterials used to supportthe production process.Examples: lubricants andcleaning supplies used in theautomobile assembly plant.Wages paid to employeeswho are not directlyinvolved in productionwork.Examples: maintenanceworkers and security guards.2-9Nonmanufacturing CostsSellingCostsAdministrativeCostsCosts necessary tosecure the order andde

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