Category Archives: Accounting Interview Questions

What is Cost Accounting? | Accounting Questions

This can be described as the process of accumulating, measuring, analyzing, interpreting and reporting cost information that is both useful and relevant to the internal and external stakeholders of a business entity. External stakeholders are those who have a vested … Continue reading

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What is difference between cost accounting and financial accounting? | Accounting Questions

The difference between “cost accounting” and “financial accounting are terms refer to the accounting techniques used internally by a company’s management to determine the costs of running the business and help in decision making. For example, reports that compare budgeted … Continue reading

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What is the cost sheet? | Accounting Questions

Cost sheet is a statement of cost for a product for given period of time.

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What are the variable costs? | Accounting Questions

Variable costs are those that are directly proportionate with the quantity of production and or directly associated with the service. Variable costs are the costs that change depending on how many products you sell or how many services you provide.

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What is BEP in Cost Accounting? | Accounting Questions

The level of activity at which total revenues equal total costs. A point at which there is no profit and no loss.

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Tell me about your experience in cost accounting? | Accounting Questions

Referring any books or questions wont give any experience, here experience, i think means, the level or the grade of Cost A/C works done etc.

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What is the difference between Expenses and Expenditure? | Accounting Questions

The difference between expenses and expenditure. Expense is the outflow from a profit oriented organization while expenditure is the outflow from non-profit organization.

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Explain some of the methods used to allocate support costs? | Accounting Questions

Headcount or number of pc’s per cost center.

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What is the marginal cost? | Accounting Questions

Marginal Cost (MC): The marginal cost of an additional unit of output is the cost of the additional inputs needed to produce that output. More formally, the marginal cost is the derivative of total production costs with respect to the … Continue reading

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Explain the information about cost sheets? | Accounting Questions

Cost sheet consists of the direct and indirect expenses incurred in producing a given product and classifying the expenses incurred according to office, administration, selling and distribution overheads.

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