Application Of Appropriate Cost Performance

3497 Words Mar 23rd, 2015 14 Pages
Executive summary:
Application of appropriate cost performance strategy is a vital tool for the organizational objective. Budgeting procedure & its implementation is an important element of the cost accounting practice. The organization that has a substantial history of efficient budgeting methods can easily read the market. The total costing system is a basic of all small and independent cost measurement technique. An organization must have an accounting fit to the infrastructure and management development team. Any kind of variance in the performance must be dealt with due diligence. Cost has a relationship with the whole production process. Whenever this kind of fit is well suited to the performance of the company, there is a strong possibility that the company will improve.

Table of Contents
Introduction 3
1.1 Different Types of Cost: 3
1.2 Different costing method 3
D1: Evaluation of cost measurement techniques: 4
1.3 Calculation of inventory costing 4
1.4 Analysis of cost data 4
2.1 Preparation of cost report 5
2.2 Utilization of performance indicator: 6
M1 Strategies for performance indicator 7
2.3 Improvement of Cost Performance: 7
D3: Cost Reduction Steps: 8
3.1 Purpose and Nature of Budgeting Process in the business. 8
3.2 Appropriate budgeting methods 8
3.3 Preparation of appropriate budgeting method: 9
3.4 Preparation of cash budget 9
M2 Designing appropriate methods of budgeting 10
4.1 Variance of budgeted data: 11
4.2 Operating Statement…
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