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Marginal Costing: Statement of Profit or Loss

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC Advanced Accounting Level Notes: Marginal Costing: Statement of Profit or Loss

As has been outlined here there are differences between marginal costing and absorption costing
One such stark difference is in the format of statements of profit
Below is a proforma Statement of Profit using marginal costing

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Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC Advanced Accounting Level Notes: International Accounting Standard 2 (IAS 2): Inventories

This International Financial Reporting Standard deals with inventories specifically:
1. It defines what assets are to be considered inventories
2. It dictates how these inventories are to be valued
3. Prescribes how these inventories ought to be treated in accounting terms […]

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

As already said in the introduction to costing for overheads
Businesses need to know the cost of production for each unit of production
There are many reasons why a business would need to know this:
1. To calculate a selling price that […]

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Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC Advanced Accounting Level Notes: Marginal Costing: Statement of Profit Example

In the introduction to marginal costing we it was pointed out that there is a difference between
Marginal costing and Absorption costing statements of profits
Here we will now examine a worked example to illustrate how a statement […]

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