Ideal Costing System.

 Q13. What are the essentials of an ideal costing system?
Ans. Following factors are essentials:

  1. It should be simple, tailor-made, practical and as per requirement of concern.
  2.  Accurate data should be used.
  3.  Necessary Corporation and participation from various departments.
  4.  Economical system in terms of its cost.
  5. Proper planning and programming in introducing of system.
  6. Faith of Management on the system.

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