Faculties and Departments > Managerial Accounting

Standard Cost and Budget

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MD. ABDUR ROUF:
Standard Cost   Budget
 1. Standard cost is the determined cost  of Cost accounting.
 2. Standard costs are projection of cost accounting.
 3. It is set on a unit basis.
 4. Standard does not tell what costs are expected to be.
 5. It is determined by classifying,      recording and allocating expenses to cost unit.
 6. It can not be operated with out budgets.
Budget
1. Budget is quantitative expressed of Financial Accounting.
2. Budgets are projection of Financial   accounting.
3. It refers to total amount.
4. Budget as a statement of expected costs.
5. Budgets are prepared for sales, production, cash etc.
6.It can be operated with standards

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