We are starting with our course on constant management accounting a regular course
on Youtube free of cost and we 'll be covering all the chapters right. we will be
taking up the few important things. Few basics Uh we are going to build right now
as we talk about this subject costing I have written basics of costing.. The
lectures are divided into 30-40 minutes lectures only so that 's why we 'll divide
the lectures into 30. 40-minute lectures only. the first 30. 40 minute lecture is
easy for you people to grab the things in those 30 40. minutes lecture. It is easy.
for you to grab things in the 30. 40 minutes lecture. any money flowing out of your
pocket is an expense. Right you have to pay for something. It is a cost. the one
who is earning the money he will never. Like spending the money right. we have to
spend to sustain, but the hardearned money always hurts a bit anyhow..
parents are experienced they are you know they have the hardearned money what they
will do next time go with your parents. They will get the same product at a cheaper
price. they will bargain also yes they will bargain and they are very good.
Especially the mothers are good at bargaining is n't it. of accounting what you do
you start writing your things is n't it what are you doing what is meant by
maintaining the accounts. Maintaining the account means that you are writing the
things. of accounting. your father will try to ascertain in one month, how much
expenditure is being done by my son or my daughter clear so this is cost
accounting. cost accounting first objective is ascertainment of the cost that means
for a particular period, what is the total cost of the total expenditure being done
right. Similarly, for the business, a business is obviously concerned Uh with the
cost right a business wants to know that in a particular time what is expenditure
or what is cost that we are incurring so cost accounting is the objective of doing
that. if you are not writing these cost in your books, then by the end of the year,
you will not remember right your brain is not a ledger..
The business will identify the areas where they can cut on their cost right. So
they will take some crucial decision that this activity. This is a waste activity
remove it remove it or why are we doing expand UH extra expenditure.. cost
accounting is important from that perspective. cost control and cost reduction
means analysis of each activity into valueadded and nonvalueadded activity.. cost
control is determination of the redetermined standards measurement of the actual
comparison of actuals with the standards analysis of the variances and actions and
the product quality is no guarantee now let 's try to understand with the help of
an example. Say Sir This is iphone which model i do n't know which model right.
nonvalue added services are those activities which even if we remove from the
process will not affect the quality of our product. It will reduce the cost, but it
will not have the adverse effect on the quality. cost reduction is known as cost
reduction no compromise on the product quality Obviously sir..
In this case, there might be a possibility that going for the cheaper plan might
affect the call quality. product quality is no guarantee that 's what I told you
that the airtel might be having a bad call quality right so in saving 100 rupees
you might be losing on call quality so quality is not guaranteed your cost will
come down. elements of cost and the four or five terminologies that I am going to
discuss. These are going to be very very important. Now all those having the
handbooks what you have what they have to do is cover first three pages sir the
terminologies right then base objectives of cost accounting then difference between
cost reduction and cost control you have to study this. you will just give a plane
reading and you will be able to understand right this direct cost and indirect
cost..
on Youtube free of cost and we 'll be covering all the chapters right. we will be
taking up the few important things. Few basics Uh we are going to build right now
as we talk about this subject costing I have written basics of costing.. The
lectures are divided into 30-40 minutes lectures only so that 's why we 'll divide
the lectures into 30. 40-minute lectures only. the first 30. 40 minute lecture is
easy for you people to grab the things in those 30 40. minutes lecture. It is easy.
for you to grab things in the 30. 40 minutes lecture. any money flowing out of your
pocket is an expense. Right you have to pay for something. It is a cost. the one
who is earning the money he will never. Like spending the money right. we have to
spend to sustain, but the hardearned money always hurts a bit anyhow..
parents are experienced they are you know they have the hardearned money what they
will do next time go with your parents. They will get the same product at a cheaper
price. they will bargain also yes they will bargain and they are very good.
Especially the mothers are good at bargaining is n't it. of accounting what you do
you start writing your things is n't it what are you doing what is meant by
maintaining the accounts. Maintaining the account means that you are writing the
things. of accounting. your father will try to ascertain in one month, how much
expenditure is being done by my son or my daughter clear so this is cost
accounting. cost accounting first objective is ascertainment of the cost that means
for a particular period, what is the total cost of the total expenditure being done
right. Similarly, for the business, a business is obviously concerned Uh with the
cost right a business wants to know that in a particular time what is expenditure
or what is cost that we are incurring so cost accounting is the objective of doing
that. if you are not writing these cost in your books, then by the end of the year,
you will not remember right your brain is not a ledger..
The business will identify the areas where they can cut on their cost right. So
they will take some crucial decision that this activity. This is a waste activity
remove it remove it or why are we doing expand UH extra expenditure.. cost
accounting is important from that perspective. cost control and cost reduction
means analysis of each activity into valueadded and nonvalueadded activity.. cost
control is determination of the redetermined standards measurement of the actual
comparison of actuals with the standards analysis of the variances and actions and
the product quality is no guarantee now let 's try to understand with the help of
an example. Say Sir This is iphone which model i do n't know which model right.
nonvalue added services are those activities which even if we remove from the
process will not affect the quality of our product. It will reduce the cost, but it
will not have the adverse effect on the quality. cost reduction is known as cost
reduction no compromise on the product quality Obviously sir..
In this case, there might be a possibility that going for the cheaper plan might
affect the call quality. product quality is no guarantee that 's what I told you
that the airtel might be having a bad call quality right so in saving 100 rupees
you might be losing on call quality so quality is not guaranteed your cost will
come down. elements of cost and the four or five terminologies that I am going to
discuss. These are going to be very very important. Now all those having the
handbooks what you have what they have to do is cover first three pages sir the
terminologies right then base objectives of cost accounting then difference between
cost reduction and cost control you have to study this. you will just give a plane
reading and you will be able to understand right this direct cost and indirect
cost..
