Steps For Installation of a Costing System for cs executive
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The following topic is explained in respect of an Installation of Costing System. These notes are short, crisp and easy to understand for all.
Installation of a Costing System – CS Executive
- The nature, method, stages, and quantities in production should be examined.
- The size, layout, and organization of the factory should be studied.
- The purchase, storage, and issue mechanism of inventory should be examined & modified.
- Mechanism of payroll & wage payment should be properly decided.
- The requirements of management and policy towards cost control should be kept in view.
- The Cost-Benefit Analysis of the Costing System should be done & it should be economical.
- The system should be simple & easy to operate.
- Forms and records of original entries should involve least clerical work and inefficiencies.
- Costing System should be such that it points out inefficiencies and wastages of each and every process.
- Reporting should become an integral part of working.
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