Process Costing
13 September 2012
This article focuses on the application of a double entry recording system and the treatment of normal and abnormal losses and gains.
Trainee accounting technicians need to develop competence in maintaining a process costing system, this article explores the processes involved.
The revised standard for Unit 6, Recording and Evaluating Costs and Revenues refers to maintaining an appropriate cost accounting system and in the unit commentary under the heading, The Organisation, mentions costing...