This study is designed to provide knowledge for costing information and price determination.
The need for cost accounting came with increased industrialization, engineering an expansion in manufacturing. It is therefore obvious that in efficient system of costing is essential for industrial control.
In period of boom, manufacturers are able to show profit notwithstanding the leakage which pass unchecked, but in periods of trade competition concealed inefficiencies have to track down and rigorous control must be exercised to ensure even modest margin profit.
There is not yet an agreed best method of costing products though it may be helpful to recognize that cost allocation are being used to obtain a mutually acceptable price and not necessary to portray caused and effect relationship of cost incurrence. But price determination from cost under efficient operation through efficient cost system will most probably approximate the price of the product to its value.
TABLE OF CONTENTS
Table of content
1.1 Statement of problem
1.2 Purpose of study
1.3 Significance of limitation of study
1.4 Scope and limitation of study
1.5 Definition of terms
2.0 Literature Review
2.1 Cost determination
2.2 Cost Control
2.3 Fixed and variable cost
2.4 Natural and functional classification cost
2.5 Other theoretical work on cost and pricing
2.6 Price flexibility
2.7 The Nature of Pricing problem
2.8 Limitation of cost oriented price
2.9 Cost bread pricing theories
2.10 Price to achieve corporate objectives
3.0 Summary of Study
3.1 Discussion of findings
Accountancy has been defined by GLAUTER and UNDERDOWN, in their book titled “Accounting theory and practice as “a reporting activity that forms part of any management information system. In this regard, accountings is often explained as sciences of activities that are connected and form successive steps starting with observing, the collecting, recording, analyzing and finally communicating accounting information to its users.
The study of modern cost accounting yields insight regarding both accountants role and managers role in an organization because managers want to know how accountants measure performance and often depending upon accounting data for guiding their decisions.
Cost accounting has a major purpose of accumulating the cost of an organizations products and services. This aspect is regarded as product costing purpose.
1.1 STATEMENT OF PROBLEM:
A view shared by previous researcher on this topic that there has been a shortfall in the utilization of cost accounting information in some organization and their pricing policy decision making. It is right of this that this work attempt to suggest a good system which comprises a set of procedure, records and facilities that have to do with the systematic and routine compilation and dissemination of cost information and price determination.
AMONG THE PROBLEMS TO BE ANALYSED ARE:
(i) To highlight on management inadequate concern over proper pricing guide through cost information.
(ii) Necessary conditions for a costing system.
(iii) Evaluating the present state of the application of the cost information in the determination of price.
(iv) Appropriate basis of preparation of the cost.
Can't find what you are looking for?
Call (+234) 07030248044.
OTHER SIMILAR ACCOUNTING PROJECTS AND MATERIALS
AN APPRAISAL OF THE IMPLICATION OF ELECTRONIC BANKING IN NIGERIA BANKS (A CASE STUDY OF ACCESS BANK)
CHAPTER TWO REVIEW OF RELATED LITERATURE Electronic banking in Nigeria has overtime been viewed by many especially economists as having a lot of implications on the economy of Nigeria and especially...Continue reading »
A CRITICAL ANALYSIS OF THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)
ABSTRACT The study was carried out to analyse how an organization performs making use of the financial statements with First Bank of Nigeria Plc serving as the case study. the study disclosed that th...Continue reading »
AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)
HISTORICAL BACKGROUND OF THE NIGERIA STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIAN. The nigeria stock excahnge denoted by NSE is a government establishment where stocks are traded on a daill...Continue reading »
APPLICATION OF BUDGETS AND BUDGETARY CONTROL MEASURES IN A NON-PROFIT ORGANIZATION: A CASE STUDY OF APOSTOLIC CHURCH, DELTA
2.1 CONCEPTUAL FRAMEWORK A budget is can be defined by accountants as “a planned outcome to be generated and for the expenditure to ensure during that period and the capital to be employed to a...Continue reading »
ASSESSING BOOK-KEEPING PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN CALABAR LOCAL GOVERNMENT AREA
ABSTRACT The economy of Nigeria cannot function properly or thrive without the micro, small and medium scale enterprises (SMEs). These small scale enterprises cannot function properly if they are not ...Continue reading »
ASSESSMENT OF ADEQUATE RISK RECOGNITION AND MANAGEMENT IN NIGERIAN INSURANCE COMPANIES (A CASE STUDY OF UNION ASSURANCE COMPANY, UYO)
THE CONCEPT OF RISK Risk has been the subject of study by different scholars over the years with several meaning and definitions. But the most accepted definitions are that of J.E Banister and P.A Baw...Continue reading »
What are looking for today?
THE IMPACT OF HUMAN RESOURCE PLANNING ON ORGANIZATIONAL PERFORMANCE
71,938 people found this useful
THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION
52,225 people found this useful
IMPACT OF E-LEARNING ON THE ACADEMIC PERFORMANCE OF UNDERGRADUATE STUDENTS (A CASE STUDY OF NATIONAL...
50,095 people found this useful
IMPACT OF SOCIAL MEDIA ON CONSUMER BEHAVIOR
48,319 people found this useful
TAX ADMINISTRATION IN NIGERIA: CHALLENGES AND PROSPECTS, A CASE STUDY OF LAGOS STATE BOARD OF INTERN...
47,295 people found this useful
CAUSES AND EFFECTS OF COMMUNICATION BREAKDOWN IN AN ORGANIZATION (A case study of champions’ brewe...
44,486 people found this useful