Cost Accounting Lecture Sheet By Muhammad Nazrul Islam FCMA Lecture 03

Cost Accounting Lecture Sheet By Muhammad Nazrul Islam FCMA


102.03 Costing and control of Materials
Learning objects: Introduction, Classification of Material, Purchase procedures,
purchase of material, Accounting for materials, costing by periodic inventory
system and perpetual inventory system, Inventory Planning, Journalizing materials
cost, inventory planning, EOQ, Safety stock, Re-order point JIT, Other Inventory
Control etc.

INTRODUCTION
Manufacturing is the process by which materials are converted into finished
product. Raw materials constitute an essential cost element of production. Proper
accounting for and control over material purchases, uses and inventory are
important for effective mgt of a business and for reporting to various parties (i.e.
bank, stakeholders etc.) Effective accounting judged in relation to 3 major areas:
a. Physical control of materials
b. Information for decision making
c. Information for financial reporting
CLASSIFICATION OF MATERIAL
Direct


Lecture 03 Download

If You Face any problem to download Then Contact me on Fb

FB