Abstract
This chapter introduces the technique of standard costing which is a method of financial control that compares predetermined costs, known as standard costs and actual costs. Standard costing is a system of financial control which is closely associated with budgetary control. Many organisations use both systems, although one can be used without the other. However, it is less common to find a standard costing system in operation without a budgetary control system being present.
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© 1999 Jill Hussey and Roger Hussey
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Hussey, J., Hussey, R. (1999). Standard Costing. In: Business Accounting. Macmillan Business Masters. Palgrave, London. https://doi.org/10.1007/978-1-349-14784-7_22
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DOI: https://doi.org/10.1007/978-1-349-14784-7_22
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-73081-2
Online ISBN: 978-1-349-14784-7
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)