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Cost center related question?

Former Member
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Hi Sapers,

I have a question that has been asked in interview and not sure exactly what and how to answer it. "What kind of entries do we post to the Cost Center?"


Please write the answer of the above question it may be a basic question but nothing coming to my mind to answer it. Please help...



Thanks in advance


Regards

Nitin

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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Hi Nitin,

Basic use In cost accounting, you allocate actual and budgeted costs of operations, departments, products, and projects to analyze the profitability of your company.

Cost accounting can help you understand the costs of running a business. Cost accounting information is designed to analyze:

  • What types of costs that you incur when you run a business?

  • Where do the costs occur?

  • Who bears the costs?

Not all GLs are cost element in Chart of Accounts, the GLs which are cost elements can be posted to cost center entries. which can expenses.

Thank you,

Former Member
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Thanks for your reply Ashfaq.....

I am satisfied with your reply and many thanks for your reply and spending time.....

Thanks again....

Regards

Nitin

Answers (0)