Introduction of Job Costing
The classification of maximum industries is divided into two major categories. They are,
- Industries that produces goods in large quantity
- Job order costing industries
Usually, job order costing industries produces goods as per the order of the clients.
Stockpiling of labour, expenditure and material required for a certain job require money. The amount which is utilised in this job is termed as job costing. It usually takes place within the confines of a workshop or a factory wading through various operations and processes. It is seen as an endlessly recognisable unit.
This term has been termed as per the International Capital Market Association.
Links of Previous Main Topic:-
- Introduction to accounting and branches of accounting
- Preparation of final accounts
- Introduction of fund flow statement
- Introduction cash flow statement
- Ratio analysis significance of ratio analysis
- Fixed assets and depreciation meaning causes objectives methods and basic factor
- Cost accounting concept objectives advantages limitations general principles and cost sheet
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