Costs – NBC Institute

ICMA – Nov 2024 – L1 – Q3b – Relevant Cost Concepts

Explains two key concepts of relevant cost used in decision-making.

Question

Relevant Cost
Relevant cost should be used for assessing the economic and financial consequences of any decision made by management. Only relevant cost and benefits should be taken into consideration when evaluating the financial consequences of a decision.

Required:
Explain TWO key concepts of relevant cost.

Answer

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Tags: Costs, Financial Decision-Making, Management Accounting, Relevant Cost
Level: Level 1

Topic: Relevant Cost and Revenue
Series: Nov 2024

FA – May 2018 – L1 – SA – Q3 – Accounting for Inventories in Accordance with IAS 2

Identifies the items included in the cost of inventories.

Question

Which of the following is included in the cost of inventories?
A. Abnormal amounts of wasted materials, labour, and other production costs
B. Conversion costs
C. Storage costs
D. Administrative overhead
E. Selling costs

Answer

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Tags: Costs, IAS 2, Inventories

Topic: Accounting for Inventories (IAS 2)
Series: MAY 2018

FA – May 2016 – L1 – SA – Q6 – Accounting for Inventories in Accordance with IAS 2

A question about the components that are part of the cost of inventories according to IAS 2.

Question

Question:
Which of the following is NOT part of the cost of inventories, in relation to IAS 2 Inventories?
A. The purchase price
B. Import duties
C. Transport costs
D. Handling costs
E. Selling costs

Answer

Find Related Questions by Tags, levels, etc.

Tags: Costs, IAS 2, Inventories
Level: Level 1

Topic: Accounting for Inventories (IAS 2)
Series: MAY 2016

ICMA – Nov 2024 – L1 – Q3b – Relevant Cost Concepts

Explains two key concepts of relevant cost used in decision-making.

Question

Required:
Explain TWO key concepts of relevant cost.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Costs, Financial Decision-Making, Management Accounting, Relevant Cost
Level: Level 1

Topic: Relevant Cost and Revenue
Series: Nov 2024

FA – May 2018 – L1 – SA – Q3 – Accounting for Inventories in Accordance with IAS 2

Identifies the items included in the cost of inventories.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Costs, IAS 2, Inventories

Topic: Accounting for Inventories (IAS 2)
Series: MAY 2018

FA – May 2016 – L1 – SA – Q6 – Accounting for Inventories in Accordance with IAS 2

A question about the components that are part of the cost of inventories according to IAS 2.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Costs, IAS 2, Inventories
Level: Level 1

Topic: Accounting for Inventories (IAS 2)
Series: MAY 2016

Question Tag: Costs

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ICMA – Nov 2024 – L1 – Q3b – Relevant Cost Concepts

Explains two key concepts of relevant cost used in decision-making.

FA – May 2018 – L1 – SA – Q3 – Accounting for Inventories in Accordance with IAS 2

Identifies the items included in the cost of inventories.

FA – May 2016 – L1 – SA – Q6 – Accounting for Inventories in Accordance with IAS 2

A question about the components that are part of the cost of inventories according to IAS 2.

ICMA – Nov 2024 – L1 – Q3b – Relevant Cost Concepts

Explains two key concepts of relevant cost used in decision-making.

FA – May 2018 – L1 – SA – Q3 – Accounting for Inventories in Accordance with IAS 2

Identifies the items included in the cost of inventories.

FA – May 2016 – L1 – SA – Q6 – Accounting for Inventories in Accordance with IAS 2

A question about the components that are part of the cost of inventories according to IAS 2.

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ICMA – Nov 2024 – L1 – Q3b – Relevant Cost Concepts

Explains two key concepts of relevant cost used in decision-making.

You're reporting an error for "ICMA – Nov 2024 – L1 – Q3b – Relevant Cost Concepts"

FA – May 2018 – L1 – SA – Q3 – Accounting for Inventories in Accordance with IAS 2

Identifies the items included in the cost of inventories.

You're reporting an error for "FA – May 2018 – L1 – SA – Q3 – Accounting for Inventories in Accordance with IAS 2"

FA – May 2016 – L1 – SA – Q6 – Accounting for Inventories in Accordance with IAS 2

A question about the components that are part of the cost of inventories according to IAS 2.

You're reporting an error for "FA – May 2016 – L1 – SA – Q6 – Accounting for Inventories in Accordance with IAS 2"

ICMA – Nov 2024 – L1 – Q3b – Relevant Cost Concepts

Explains two key concepts of relevant cost used in decision-making.

You're reporting an error for "ICMA – Nov 2024 – L1 – Q3b – Relevant Cost Concepts"

FA – May 2018 – L1 – SA – Q3 – Accounting for Inventories in Accordance with IAS 2

Identifies the items included in the cost of inventories.

You're reporting an error for "FA – May 2018 – L1 – SA – Q3 – Accounting for Inventories in Accordance with IAS 2"

FA – May 2016 – L1 – SA – Q6 – Accounting for Inventories in Accordance with IAS 2

A question about the components that are part of the cost of inventories according to IAS 2.

You're reporting an error for "FA – May 2016 – L1 – SA – Q6 – Accounting for Inventories in Accordance with IAS 2"

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