Assignment Help - homework help

  Collection and Classification of Overheads

Introduction to Collection and classification of overheads

After the overheads have been categorized as factory, office and selling, it will be worthwhile to group items covered via each category under appropriate account headings. For instance, depreciation may consider to factory buildings, factory furniture, factory plant, etc. It will be suitable to group all items of depreciation that are relating to factory assets at one place within a common heading 'Depreciation' with appropriate sub-heading, This grouping of such as items with the like is essential to collect overhead items in a convenient and expeditious manner. The guiding principle in selecting such type of headings must be that the headings are clear and clear so that these might not be confused with each other.

Generally, to each heading of expense a code number is allotted. It might be described as allotment of codes to individual heads of expense is known as codification of overheads a method of short explanation of a particular head that is otherwise lengthy. It also makes sure secrecy and simple in classification, accounting and control. Codes are specifically helpful under computerised system of accounting. Codification might be done as per to anyone of the following methods.

(i) Numerical method: as per to this method numbers are allotted to every heading and sub-heading of expense.

1488_Collection and Classification of overheads Homework Help.jpg

So, the first digit of the code number means the main expenditure and the consequent digit for its sub-division.

(ii) Alphabetical method: as per to this method, the alphabets are employed for identifying the expenses of cost centres. For instance:

AE - Administrative Expenses

MC - Maintenance Cost

AC - Assembly Cost

(iii) Alphabetical cum numerical method: as per to this method the alphabet depicts the main expenditure when the numerical depicts its sub-division.

Example:

Item                                     Code Number

Depreciation Plant                  D1

Depreciation of Furniture         D2

Code numbers provided to dissimilar items of overheads are listed in a schedule or manual for ready reference. No common list of these code numbers can be recommended because the number and types within which the overheads might be grouped depend upon the size of the factory, the nature of industry and the degree of control needed.

Latest technology based Cost Accounting Online Tutoring Assistance

Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Collection and Classification of Overheads homework help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Collection and Classification of Overheads, project ideas and tutorials. We provide email based Collection and Classification of Overheads homework help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Collection and Classification of Overheads. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Cost Accounting homework help and assignment help services. They use their experience, as they have solved thousands of the cost accounting assignments, which may help you to solve your complex issues of Collection and Classification of Overheads. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Home | Company Overview | Services | Discover Q&A | Sitemap | Contact Us | T & C | Refund Policy | Copyright Policy | Blog | Q&A | Directory

©TutorsGlobe All rights reserved 2022-2023.