Upload NowJob costing and contract costing differ from each other in the following aspects: (a) Size: Jobs are smaller and contracts are bigger in monetary terms and also in physical aspects. (b) Duration: Jobs take-up lesser time and usually completed within one accounting period. Contracts take longer period and may even stretch over several accounting periods. […]
Job Costing and Contract Costing | Difference | Cost Accounting
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Difference: Bin Card and Stores Ledger | Cost Accounting
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The differences between a Bin card and the Stores ledger are mentioned below: Difference # Bin Card: i. It is maintained by stores department. ii. Bin Card provides quantities received, issued and the Balance in the bin. iii. Entries are made before the transactions take place. iv. Each and every transaction is individually entered. Difference […]
Difference: Cost, Costing, Cost Accounting and Cost Accountancy
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The upcoming discussion will update you about the difference among cost, costing, cost accounting and cost accountancy. Difference # Cost: The term ‘cost’ has to be studied in relation to its purpose and conditions. As per the definition by Institute of Cost and Management Accountants (I.C.M.A.), now known as Chartered Institute of Management Accountants (C.I.MA.), […]