Basic Concept of Cost Accounting

  Compare cost accounting with financial accounting. Compare cost accounting and management accounting? Define the term ‗cost‘. Compare it with ―Value‖ and ―Price‖? What are the advantages/ objectives of a cost accounting system. Discuss the role of the cost accountant in a manufacturing organisation How are costs classified? Give different classifications of overheads. Write short notes on explicit and implicit… Read moreBasic Concept of Cost Accounting

Revenue Recognition AS 9

REVENUE RECOGNITION (AS  – 9)   gross inflow of consideration arising in the course of ordinary activities, such as:     a.  Sale of goods.   b.  Rendering the services. c.  Use of the enterprises resources by others giving interest, dividend and royalties.   2.  RfeargovloeoemdnosufS:e   a.  Revenue  is recognised: i.    When sale is completed. (Refer to next… Read moreRevenue Recognition AS 9