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Accounting entries for a job costing system

  • Colin Drury

Abstract

After studying this chapter, you should be able to:
  • distinguish between an integrated and interlocking cost accounting system;

  • prepare a set of accounts for an integrated and interlocking cost accounting system;

  • explain the distinguishing features of contract costing;

  • prepare contract accounts and calculate attributable profit.

Keywords

Cost Account Financial Account Contract Price Loss Account Control Account 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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References and Further Reading

  1. Accounting Standards Committee (1988) Accounting for Stocks and Work in Progress (SSAP 9).Google Scholar
  2. Demirag, I. and Macve, R. (1986) Long-term contract work in progress, The Accountants’ Magazine (Scotland), June, 19–22; July, 55–6.Google Scholar
  3. Dugdale, D. (1989) Contract accounting and SSAP, Management Accounting, June, 62–4.Google Scholar
  4. Holgate, P. (1984) And now… it’s not the SSAP 9 News, Accountancy Age, 12 July, 9.Google Scholar
  5. Johnson, B. (1987) How long-term rules affect short term contracts, Accountancy Age, 16 April, 18.Google Scholar
  6. Kennedy, A. and Sugden, K. (1984) Contract W.I.P. What’s in progress? Management Accounting, July/August, 32–4.Google Scholar
  7. Pitchford, G. (1987) ED40 and the problem of accounting for long-term contracts. Students’ Newsletter, Chartered Association of Certified Accountants, June, 24–6.Google Scholar
  8. Stein, N.D. (1989) SSAP 9 (revised) Stocks and long-term contracts. Students’ Newsletter, Chartered Association of Certified Accountants, May, 6–8, 18.Google Scholar

Copyright information

© J.C. Drury 1992

Authors and Affiliations

  • Colin Drury
    • 1
  1. 1.Huddersfield PolytechnicUK

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