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Bookkeeping and Accounting All-in-One For Dummies, UK Edition
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Bookkeeping and Accounting All-in-One For Dummies, UK Edition

by Jane E. Kelly
May 2015
Beginner content levelBeginner
488 pages
11h 58m
English
For Dummies
Content preview from Bookkeeping and Accounting All-in-One For Dummies, UK Edition

Chapter 4

Cost Conundrums

In This Chapter

arrow Determining costs: The second most important thing accountants do

arrow Comprehending the different needs for cost information

arrow Contrasting costs to understand them better

arrow Determining product cost for manufacturers

arrow Padding profit by manufacturing too many products

Measuring costs is the second most important thing accountants do, right after measuring profit. But really, can measuring a cost be very complicated? You just take numbers off a purchase invoice and call it a day, right? Not if your business manufactures the products you sell – that’s for sure! Businesses must carefully record all their costs correctly so that profit can be determined each period, and so that managers have the information they need to make decisions and to control profit performance.

Previewing What’s Coming Down the Road

jargonalert One main function of accounting for a manufacturing ...

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Publisher Resources

ISBN: 9781119026617Purchase book