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An analysis of costing system of small scale business

 Department: Accountancy  
 By: usericon captainonuh1414  

 Project ID: 6893
   Rating:  (3.0) votes: 2
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This research project examines the analysis of cost accounting systems in small-scale industries in general, however, it gives a specific emphasis was particularly given to how the small-scale business recognized and appreciated the importance of the costing system. It also explains that the costing system deals with the optimum use of available resources and better approximation of figures in order to be able to determine the total cost of production and cost per unit of a product, also costing system enabled the small scale business to have accurate records of cost analyzed in a manner so required for the purpose of management decision and planning. Further explains the three main sources of cost information (i.e element of costs, Viz): materials, labour and overhead costs. It also included the presentation of data gathered through interviews conducted with the proprietor of the firm, then conclusions are drawn and recommendations are given on the areas where some anomalies are discovered on how to improve the situation.     ...
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