February 2025

The differences between marginal and absorption costing

By |2025-02-12T09:29:36+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

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

  • Having introduced you to both absorption costing and marginal costing
  • It is time to look at some of the differences between the two
  • In discussing marginal costing we have already pointed out the differences between it and marginal costing

    • […]

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Inventory valuation methods: FIFO: Example Question

By |2025-02-12T09:29:51+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Inventory valuation: Inventory valuation methods: First In First Out (FIFO): Example Question

  • We have looked at the FIFO method of valuing inventory here
  • Now it is time to look at an exam type of question
  • The solution to this question can be found here

Mary […]

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Absorption of Overheads: More than one department and more than one product example

By |2025-02-12T09:27:12+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Absorption of Overheads: More than one department and more than one department worked example

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Uses and Limitations of Marginal Costing

By |2025-02-12T09:31:24+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Uses and Limitations of Marginal Costing

  • According to research by CIMA the leading Management Institute
  • Traditional costing methods such as Absorption costing are still in widely used by manufacturing businesses throughout the world
  • There is are reasons for this:

Uses/Advantages of Absorption costing

  • Marginal costing is easy […]
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Inventory valuation methods: FIFO: Solution to Example Question

By |2025-02-12T09:30:33+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Inventory valuation: Inventory valuation methods: First In First Out (FIFO): Example Question

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Absorption of Overheads: Overhead Analysis Sheet Example

By |2025-02-12T09:32:13+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Absorption of Overheads: Overhead Analysis Sheet Example

  • In this example we will look at how you can use an overhead analysis sheet to allocate and apportion overhead costs
  • It is important to note that while the format shown below is the most popular
  • It is entirely […]
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Inventory valuation methods: LIFO

By |2025-02-12T09:36:43+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Inventory valuation: Inventory valuation methods: Last In First Out (LIFO)

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Absorption of Overheads: Reapportionment of service costs with no interwork

By |2025-02-12T09:35:44+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Reapportionment of service costs no interwork

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Inventory valuation methods: LIFO: Example Question

By |2025-02-12T09:39:53+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Inventory valuation: Inventory valuation methods: Last In First Out (LIFO): Example Question

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Absorption of Overheads: Reapportionment of service costs where there is interwork

By |2025-02-12T09:37:42+02:00February 12th, 2025|Cambridge AS A Level Accounting, Notes, ZIMSEC A Level Accounting|

Cambrige AS and A Level Accounting Notes (9706)/ ZIMSEC  Advanced Accounting Level Notes: Reapportionment of service costs where there is interwork

  • We have already looked at the need for reapportioning the portion of overheads that would have been allocated and apportioned to service cost centres
  • We also looked a simple example where there was no inter work among departments […]
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