ACCA F2 Short Notes 2018 by AccountanSea

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(Last Updated On: May 12, 2018)

ACCA F2 Short Notes 2018

Dear students, you can download the ACCA F2 Short Notes by clicking the download link given below. These notes are created by the Sir Zeeshan Hasan. He also gave online tuition (AccountanSea) to the students, you can contact him via contact details given in the notes.

We hope that these ACCA F2 Short Notes will help you in your studies. You can leave your query in the comments section or you can drop one email at [email protected] in this post I have shared one topic from his notes.

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Also Check this: ACCA F7 Short Notes by AccountanSea

Short Example of Notes Given Below: 

Cost Accounting

“Cost accounting involves applying a set of principles, method, and techniques to determine and analyze costs within the separate units of a business”.

This involves:

The establishment of budgets, standards costs and actual costs of operations, processes, activities or products and the analysis of variances, profitability or the social use of funds.

Cost:

“All expenses carried out to make one unit of a product is called a cost of that unit”.

Cost Unit:

“A unit of product with which cost is attached”.

Examples: Marker, Bike, Watch, etc.

Cost Per Unit:

“Cost of one unit of a product is called cost per unit”.

Cost Center:

“A cost center is a production or service location, function, activity or item of equipment for which costs are accumulated and analyzed”.

Examples: Production department, Administration department, marketing, etc

Cost Object:

“A cost object is any activity or item for which a separate measurement of cost is desired”. It could be a cost unit or cost center.

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