To do total cost industrial engineering, Industrial engineers have to analyze cost of sales account.
Cost of sales account is an appropriate summation of job cost accounts, process cost accounts and cost center costs. Industrial engineers should be able to divide the total cost of sales of the company into various underlying accounts to identify cost reduction challenges and opportunities.
Accounting: Cost of Goods Manufactured/ Cost of Goods Sold: Part I
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Accounting: Cost of Goods Manufactured/Cost of Goods Sold (Part II)
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http://www.accountingformanagement.org/finished-goods-and-cost-of-goods-sold/
See the recording keeping specified for Textile Industry in India regarding cost.
COST ACCOUNTING RECORDS (TEXTILES) RULES 1977
MINISTRY OF LAW JUSTICE AND COMPANY AFFAIRS NOTIFICATION
NEW DELHI THE 28TH JUNE 1977
COST ACCOUNTING RECORDS (TEXTILES) RULES 1977
http://www.mca.gov.in/Ministry/PDFs/text.pdf
Account Based COPA - Simplification with Simple Finance in SAP
http://scn.sap.com/docs/DOC-65828
Updated 26 Apr 2016, 18 April 2016
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