Basic Costing Chapter 1 Summary

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  • Created by: dami
  • Created on: 19-06-14 11:20
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  • Chapter 1 Basic Costing System
    • Types of Business
      • Sole Trader
      • Partnership
      • Limited Liability
      • Limited Companies
    • Types of Transactions
      • Cash Transaction
      • Credit Transaction
        • Trade Receivable
        • Trade Payable
      • Capital Transaction
        • Purchase of non current assets
      • Revenue Transaction
        • Everyday income and expense of the business
    • Types of Industry
      • Manufacturing
      • Services
      • Retail
    • Purpose of accounting
      • Statement of Financial Position
        • Assets - Liabilities equals Capital
      • Statement of Profit and Loss
        • Income- Expenses equals profit or loss
    • Role of management accounting
      • Decision
      • Planning
      • Control

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