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UGC NET EXAMINATION 2019 METHODS TO UNDERSTAND COST ACCOUNTING IN 60 MINUTES By:- Assistant Professor(Ms.)Ashima Negi Candidate For Doctorate ( Ph.D.) UGC NET-Management. CA(I), MBA Finance, BBA, PGDM-Materials Management, NCFM, TQM & ISO 9000, QS 9000 & Assurance, CCIBL.
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ACTIVITY BASED COSTING Activity-based costing (ABC) is an accounting method that identifies and assigns costs to overhead activities and then assigns those costs to products. An activity-based costing (ABC) system recognizes the relationship between costs, overhead activities, and manufactured products, and through this relationship, it assigns indirect cosfs to products less arbitrarily than traditional methods. The ABC system of cost accounting is based on activities, whicAs any event, unit of work, or task with a specific goal, such as setting u machines for production, designing products, distributing finished goods, or operating machines. Activities consume overhead resources and are considered cost objects There are two categories of activity measures: transaction drivers, which involves counting how many times an activity occurs, and duration drivers, which measure how long an activity takes to complete.