B Com Exam > B Com Notes > Cost Accounting > Items Excluded From Cost Accounts
Items Excluded From Cost Accounts | Cost Accounting - B Com PDF Download
Items Excluded from Cost Accounts
There are certain items which are included in financial accounts of a manufacturing concern but shall not to be included in cost accounts since they are not related to cost of production. These items fall into three categories:-
Appropriation of profits
(i) Appropriation to sinking funds. (ii) Dividends paid
(iii) Taxes on income and profits
(iv) Transfers to general reserves
(v) Excess provision for depreciation of buildings, plant etc. and for bad debts
(vi) Amount written off – goodwill, preliminary expenses, underwriting commission, discount on debentures issued; expenses of capital issue etc.
(vii) Capital expenditures specifically charged to revenue
(viii) Charitable donation
Matters of pure finance
(a) Purely financial charges:-(i) Losses on sale of investments, buildings, etc.
(ii) Expenses on transfer of company’s office
(iii) Interest on bank loan, debentures, mortgages, etc.
(iv) Damages payable
(v) Penalties and fines
(vi) Losses due to scrapping of machinery
(vii) Remuneration paid to the proprietor in excess of a fair reward for services rendered.
(b) Purely financial incomes:-
(i) Interest received on bank deposits
(ii) Profits made on the sale of investments, fixed assets, etc.
(iii) Transfer fees received
(iv) Rent receivable
(v) Interest, dividends, etc. received on investments.
(vi) Brokerage received
(vii) Discount, commission received
Abnormal gains and losses:-
(i) Losses or gains on sale of fixed assets.
(ii) Loss to business property on account of theft, fire or other natural calamities.
In addition to above abnormal items (gain and losses) may also be excluded from cost accounts. Alternatively, these may be taken to costing profit and loss account.
The document Items Excluded From Cost Accounts | Cost Accounting - B Com is a part of the B Com Course Cost Accounting.
All you need of B Com at this link: B Com
|
106 videos|173 docs|18 tests
|
Related Exams
About this Document
|
Nov 22, 2024 Last updated |
Document Description: Items Excluded From Cost Accounts for B Com 2024 is part of Cost Accounting preparation.
The notes and questions for Items Excluded From Cost Accounts have been prepared according to the B Com exam syllabus. Information about Items Excluded From Cost Accounts covers topics
like Items Excluded from Cost Accounts , Appropriation of profits, Matters of pure finance and Items Excluded From Cost Accounts Example, for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Items Excluded From Cost Accounts.
Introduction of Items Excluded From Cost Accounts in English is available as part of our Cost Accounting
for B Com & Items Excluded From Cost Accounts in Hindi for Cost Accounting course.
Download more important topics related with notes, lectures and mock test series for B Com
Exam by signing up for free. B Com: Items Excluded From Cost Accounts | Cost Accounting - B Com
Description
Full syllabus notes, lecture & questions for Items Excluded From Cost Accounts | Cost Accounting - B Com - B Com | Plus excerises question with solution to help you revise complete syllabus for Cost Accounting | Best notes, free PDF download
Information about Items Excluded From Cost Accounts
In this doc you can find the meaning of Items Excluded From Cost Accounts defined & explained in the simplest way possible. Besides explaining types of
Items Excluded From Cost Accounts theory, EduRev gives you an ample number of questions to practice Items Excluded From Cost Accounts tests, examples and also practice B Com
tests
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
video lectures
,ppt
,Important questions
,Items Excluded From Cost Accounts | Cost Accounting - B Com
,Semester Notes
,MCQs
,mock tests for examination
,practice quizzes
,past year papers
,Viva Questions
,Objective type Questions
,Summary
,Extra Questions
,Items Excluded From Cost Accounts | Cost Accounting - B Com
,Sample Paper
,Items Excluded From Cost Accounts | Cost Accounting - B Com
,Free
,shortcuts and tricks
,Exam
,study material
,Previous Year Questions with Solutions
;
Additional Information about Items Excluded From Cost Accounts for B Com Preparation
Items Excluded From Cost Accounts Free PDF Download
The Items Excluded From Cost Accounts is an invaluable resource that delves deep into the core of the B Com exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the Items Excluded From Cost Accounts now and kickstart your journey towards success in the B Com exam.
Importance of Items Excluded From Cost Accounts
The importance of Items Excluded From Cost Accounts cannot be overstated, especially for B Com aspirants.
This document holds the key to success in the B Com exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
Items Excluded From Cost Accounts Notes
Items Excluded From Cost Accounts Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to Items Excluded From Cost Accounts.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, Items Excluded From Cost Accounts Notes on EduRev are your ultimate resource for success.
Items Excluded From Cost Accounts B Com Questions
The "Items Excluded From Cost Accounts B Com Questions" guide is a valuable resource for all aspiring students preparing for the
B Com exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study Items Excluded From Cost Accounts on the App
Students of B Com can study Items Excluded From Cost Accounts alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Items Excluded From Cost Accounts,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Items Excluded From Cost Accounts is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup