Accounting entries for a job costing system
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.
KeywordsCost Account Financial Account Contract Price Loss Account Control Account
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References and Further Reading
- Accounting Standards Committee (1988) Accounting for Stocks and Work in Progress (SSAP 9).Google Scholar
- Demirag, I. and Macve, R. (1986) Long-term contract work in progress, The Accountants’ Magazine (Scotland), June, 19–22; July, 55–6.Google Scholar
- Dugdale, D. (1989) Contract accounting and SSAP, Management Accounting, June, 62–4.Google Scholar
- Holgate, P. (1984) And now… it’s not the SSAP 9 News, Accountancy Age, 12 July, 9.Google Scholar
- Johnson, B. (1987) How long-term rules affect short term contracts, Accountancy Age, 16 April, 18.Google Scholar
- Kennedy, A. and Sugden, K. (1984) Contract W.I.P. What’s in progress? Management Accounting, July/August, 32–4.Google Scholar
- 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
- 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