Tag: COST

TYPES OF COST

November 23, 2019 commerceiets No Comments

TYPES OF COST There are various types of cost which can be classified on various bases such as element, nature, variability or behavior, controllability etc. Cost refers to the expenditure incurred on producing the goods and services. It represents the sacrifice, foregoing or a release of something of value. ACCORDING TO ICMA (Institute of Cost…

ELEMENTS OF COST

November 23, 2019 commerceiets No Comments

ELEMENTS OF COST The elements of cost are the factors on the basis of which expenditure is incurred. It may be defined as a group name of smaller costs of identical nature. Elements of cost make the analysis of the cost easy and facilitate maximum information regarding costs to the manufacturers. COST Cost refers to…