Cambridge a level accounting

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Differences between Financial Accounting and Cost and Management Accounting

• We have already looked at the basics and definition of both:
• Financial Accounting as well as
• Cost and Management Accounting in the post here
• Here we will looked at a summarised version between the two:

• Remember […]
  

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Costing Terms

• Before we get started with the actual costing process you need to get acquainted with various cost accounting terms and costing
• It is important to note that this is not meant to be a glossary of all the terms in cost accounting
• This is […]
  

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Cost Behaviour: Fixed Costs, Variable Costs and Semi-Variable Costs

• Costs can be classified in a number of ways
• One way to classify costs is by behaviour
• This involves determining how certain costs will vary according to the organisation’s level of activity
• For example how rentals change […]
  

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Types of Costs: Period, Opportunity, Sunk and Relevant costs

• As pointed out during the discussion of cost behaviour there many way of grouping and classifying costs

• In addition to looking at how costs behaviour in relation to the level of activity ( units produced)
• It […]
  

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Types of Costs: Direct materials, indirect materials and labour

• It is important to point out at this stage that there are generally three types of entities:
  1. Manufacturing entities that make goods and sell them
  2. Merchandising entities that purchase goods and sell them for a profit […]