Free notes, textbooks, and exam-focused resources designed for Indian banking professionals.
Costing methods are techniques used to determine and record the total costs associated with manufacturing a product or providing a service. These methods involve analyzing costs related to labor, overhead…
What is a Cost Centre? A cost centre is a function or department within an organization that incurs expenses but does not directly contribute to revenue generation. Examples of cost…
Classification of Costs Costs can be classified in various ways, including by function, behavior, and traceability. Below are some common types of cost classifications: Elements of Cost Costs can also…
Meaning of Cost Accounting:Cost accounting is the process of recording, analyzing, and interpreting a business’s costs. It helps management teams make informed decisions about pricing, budgeting, and resource allocation. Objectives…
Cost accounting, as the name suggests, involves the accounting and management of costs within a business. It encompasses the recording, classification, analysis, and allocation of costs related to production and…
The origin and evolution of cost accounting can be traced back to the Industrial Revolution. Before this period, cost accounting methods were basic and focused primarily on direct costs. Businesses…
The Goods and Services Tax (GST) was introduced to streamline the indirect tax system in India by subsuming multiple taxes levied by the Central and State Governments into a single…
Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has decided to cut the repo rate for the first time in two years, reducing it by 25 basis points to…
Every year in its annual budget (also known as Annual Financial Statement) the Government provides details of how much money it expects to reap from various sources and how it…
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