Strange accounting - Printable Version

Strange accounting - Printable Version

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Strange accounting - Shahid_fss - 04-11-2005

Hello guys
This year first time in my life I encountered with cost accounting. This is a realy bad experience. I mean there is nothing common in financial and cost accounting except the word "accounting". That's why I called it strange accounting. There is no logic, just 'rata'. My teacher says, "just learn it, don't try to understand or you'll forget financial accounting too."
I don't understand why it is so different from financial accounting.
Its also a problem that how do I understand it or "learn" it.

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```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
------------------------
Shahid_fss@yahoo.com
http//www.shahid-fss.tk
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- maani - 04-11-2005

Have u started module D?

Ace

- Shahid_fss - 04-11-2005

Common maani, can cost accounting become a problem for a module D student? I am a poor B.Com final year student.
Well after exams in june, I will take some guidline from you to joine ACCA or CA. I think you will help.

========================
```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
------------------------
Shahid_fss@yahoo.com
http//www.shahid-fss.tk
========================

- maani - 04-11-2005

Haan na...y it cannot become a problem for a module D student...
coz ppl like me studies cost first time in Module D...
waisay abhi takk main ne books ko haath nahin lagaya...
just waiting for result

Ace

- mobin - 04-12-2005

Hey guys Iam also a module D student but i find cost accounting rather much more intresting than financial so far it is only the basics but it is good , It has much more variety than financial
Anyways thats my point of view [D]

The difference between dreams and accomplishment is purly desire

- bilal azhar - 04-12-2005

Shahid my advice to u will be to just forget what is Debit/credit while doing cost accounting.Rules of debit/credit are of no use in cost accounting except for one or two topics.

cost accounting is primiraly based on formulas and i think it is very easy as compared to financial accounting.i treated cost accounting just like stat.

bilal

- Shahid_fss - 04-13-2005

Hey I already told above that I am no module abcd student...

========================
```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
------------------------
Shahid_fss@yahoo.com
http//www.shahid-fss.tk
========================

- Desert Sleet - 04-14-2005

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Shahid_fss
 Hello guys
This year first time in my life I encountered with cost accounting. This is a realy bad experience. I mean there is nothing common in financial and cost accounting except the word "accounting". That's why I called it strange accounting. There is no logic, just 'rata'. My teacher says, "just learn it, don't try to understand or you'll forget financial accounting too."
I don't understand why it is so different from financial accounting.
Its also a problem that how do I understand it or "learn" it.

========================
```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
------------------------
Shahid_fss@yahoo.com
http//www.shahid-fss.tk
========================
<hr height="1" noshade id="quote"></blockquote id="quote">
Out of all my accounting courses, I would have to say Cost Accounting was my favorite. I found it to be the most interesting aspect of accounting. It actually helped me to determine what area of the accounting field I am most interested in. Although its some time back,but myinstructor made it very interesting by giving me real life situations that may occur and i covered almost every scenario possible. Although I learned a lot from all of my accounting courses, I feel that this one really stuck with me and I will rely on the knowledge I gained from it for many years to come.

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If I could... Then I would... Turn back time!!

- Shahid_fss - 04-14-2005

So! many people like it as response came "interesting".
No doubt that its interesting
Finding missing items
Budget "forcasting"
Recovering lost data in factory fire
50% times I find myself a "NAJOOMI" figering out future happenings

======================================================================

The point for which I called it "strange" was its difference from financial accounting. I worked out more on it and came to know that in past (even near past), there was no proper system for cost accountig. Amaricans founded some institute for that in I think 70s or what, but rules they followed were based on statements rather then DR/CR. Let me tell you that they even deal whith financial accounting in statement or +/- form (i.e. income statemt or bank statement).

Statement form was actually developed to present data to general public (i.e. Accountant creates P&L A/C and in annual report publishes Income Statement, Balance Sheet is also published in statement form from top to bottom rather then columner form, while we know that when it is created its in form of columns)

The truth is I never liked statement form for students because it hides real effects "like why we are adding an item in an item". In case of DR/CR student don't use rata, instead he knows how to deal with an item.

In case of cost accounting some time there is no, even in back ground, role of DR/CR. We just add or less. Without knowing why. You can't expect students to research by themselves and there is no teacher in Pakistan who tells why he has added or minesed an item.
Our teachers say "remember the question along with answer like theory and every thing is going to be ok".

If in CA - ACCA teachers do same then I think I should bibi my studies and do something else.

========================
```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
------------------------
Shahid_fss@yahoo.com
http//www.shahid-fss.tk
========================

- seajnaaz - 06-03-2005

salam 2 all,

i dont know y r u findind so much difficulty in cost accounting?
i m also a student of b.com part 2.n i m enjoying cost more than financial..frm whr u taking tutions??r u in karachi?

- Shahid_fss - 06-04-2005

Seajnaaz
I'm from Islamabad.

Read poetry on topic "Accountancy.com"
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=1513&whichpage=28

======================================================================
```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
------------------------
Shahid_fss@yahoo.com
http//www.shahid-fss.tk
======================================================================

- Shahid_fss - 06-04-2005

By the way I heard that girls are good in mamorizing everything, even accounting and maths.
Is the same case with you?

Read poetry on topic "Accountancy.com"
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=1513&whichpage=28

======================================================================
```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
------------------------
Shahid_fss@yahoo.com
http//www.shahid-fss.tk
======================================================================

- salam - 06-08-2005

AOA,
I am doing CMA from ICMAP Islamabad. And
I don't think that you all are right about Cost Accounting.
Like given comments "Rata, No Dr/Cr Rules etc"
Its all about understanding of whatever is happing to measuring the Cost of a Product. And There are rules, and logic for calculating all the matters/Costs.

Yes, it is different to Financial but not easy. I found it more difficult rather than Financial.

I think my answer needs arguments.

Pray and Keep praying Always

A.Salam Bhai

- CBPian - 06-15-2005

Cost accounting is similar to financial accounting. There are rules governing it and a lot of things can be represented in classic T account format.
If you would put a specific question, then perhaps someone would be able to help rather than making general statements [D][D]

- sajjad_dar2000 - 06-23-2005

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Shahid_fss
 Hello guys
This year first time in my life I encountered with cost accounting. This is a realy bad experience. I mean there is nothing common in financial and cost accounting except the word "accounting". That's why I called it strange accounting. There is no logic, just 'rata'. My teacher says, "just learn it, don't try to understand or you'll forget financial accounting too."
I don't understand why it is so different from financial accounting.
Its also a problem that how do I understand it or "learn" it.

========================

```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
------------------------
Shahid_fss@yahoo.com
http//www.shahid-fss.tk
========================
<hr height="1" noshade id="quote"></blockquote id="quote">
In my point of vies cost accounting is much interesting than the accounting example of cost accounting....and there is no need for rutta

One simple example of cost accountingâ¦.
A company budget to produce the product x 10,000 units
Company produce the product X during the year 9,000 units

Now if your are asked to take the variance, you need to use a simple and common sense formula

Budget production 10,000
Actual production 9,000

Variances 1,000