PPT - Installation of Costing system B Com Notes | EduRev

Cost Accounting

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B Com : PPT - Installation of Costing system B Com Notes | EduRev

 Page 1


Installation of costing systems is not a expense 
but an investment as the rewards are much 
greater then the expense incurred. The cost 
system is for the business and not the 
business for a systems of cost. Therefore ,the 
system has to be designed as to meet the 
specific need of the enterprise.
Page 2


Installation of costing systems is not a expense 
but an investment as the rewards are much 
greater then the expense incurred. The cost 
system is for the business and not the 
business for a systems of cost. Therefore ,the 
system has to be designed as to meet the 
specific need of the enterprise.
A. General Consideration for 
Installing Costing System 
1. Objective of Installation the System.
2. Area of Operation.
3. Collection Data and Prompt Information.
4. Cost Records in Cost Book.
5. Control System of Cost.
6. Types and Methods of costing. 
Page 3


Installation of costing systems is not a expense 
but an investment as the rewards are much 
greater then the expense incurred. The cost 
system is for the business and not the 
business for a systems of cost. Therefore ,the 
system has to be designed as to meet the 
specific need of the enterprise.
A. General Consideration for 
Installing Costing System 
1. Objective of Installation the System.
2. Area of Operation.
3. Collection Data and Prompt Information.
4. Cost Records in Cost Book.
5. Control System of Cost.
6. Types and Methods of costing. 
B. Specific Consideration of Installing 
Costing System 
1. Size and Nature of Business
2. Products 
3. Organization
4. Functional Study
(like; manufacturing, administration, selling & 
distribution) 
Page 4


Installation of costing systems is not a expense 
but an investment as the rewards are much 
greater then the expense incurred. The cost 
system is for the business and not the 
business for a systems of cost. Therefore ,the 
system has to be designed as to meet the 
specific need of the enterprise.
A. General Consideration for 
Installing Costing System 
1. Objective of Installation the System.
2. Area of Operation.
3. Collection Data and Prompt Information.
4. Cost Records in Cost Book.
5. Control System of Cost.
6. Types and Methods of costing. 
B. Specific Consideration of Installing 
Costing System 
1. Size and Nature of Business
2. Products 
3. Organization
4. Functional Study
(like; manufacturing, administration, selling & 
distribution) 
1. Lack support of top Management
2. Non-cooperation by other staff 
3. Shortage of trained staff
4. Heavy cost of installation and operation of 
costing system.
Page 5


Installation of costing systems is not a expense 
but an investment as the rewards are much 
greater then the expense incurred. The cost 
system is for the business and not the 
business for a systems of cost. Therefore ,the 
system has to be designed as to meet the 
specific need of the enterprise.
A. General Consideration for 
Installing Costing System 
1. Objective of Installation the System.
2. Area of Operation.
3. Collection Data and Prompt Information.
4. Cost Records in Cost Book.
5. Control System of Cost.
6. Types and Methods of costing. 
B. Specific Consideration of Installing 
Costing System 
1. Size and Nature of Business
2. Products 
3. Organization
4. Functional Study
(like; manufacturing, administration, selling & 
distribution) 
1. Lack support of top Management
2. Non-cooperation by other staff 
3. Shortage of trained staff
4. Heavy cost of installation and operation of 
costing system.
Principles Of Smooth Working
• The system should be simple & easy to operate.
• It should be flexible.
• Minimum disturbance in the existing system, 
should only be done when desirable.
• Desired changes should be introduced gradually.
• Confidence be created in the minds of 
management and executives regarding the use of 
system.
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