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costing

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › costing

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.
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  • January 16, 2022 at 8:52 am #646145
    Isabella1
    Member
    • Topics: 42
    • Replies: 20
    • ☆☆

    Hello John,
    I was unable to figure these terms but some how I managed to differentiate. Please correct me if I am wrong.

    Cost object can be anything for which cost can be calculated. It can be cost unit or cost centre.
    Cost unit is a product or service on which can be incurred.
    Cost centre is any place or department to which we can accumulate cost incurred till date to it.

    January 16, 2022 at 4:23 pm #646203
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51573
    • ☆☆☆☆☆

    What you have typed is correct.

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