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Service Costing
Mind map: service costing
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Service Costing
SERVICE COSTING -costing method applied to a business which provides a service rather than a manufactured product.
- Examples: A Hospital, Firm of Accountancs/Solicitors, Haulage Business, Restaurant, Hotels
SERVICE COSTING : Use Composit Cost Units this uses TWO level of activity
- Examples: Cost per Tonne Mile (Shipping, haulage or Transport ) Cost per Passenger per Mile (Bus, Coach or Train) Cost per Patient per Day (Hospital, Cost per Guest per Night ( Hotels)
CHARACTERISTICS OF SERVICE COSTING
- INTANGIBILITY - No physical existence of the service unlike a produced item
- LEGAL OWNERSHIP - Little evidence exists for performance, can't return if faulty
- INTANT PERISHABILITY - Services cannot be stored, unused services cannot be stored for later use
- HETEROGENEITY - Not perfectly identical, each service is different each time
- INSEPARABILITY - Service cannot be seperated from the person who provides it
Informações
- Descrição
- Service Costing - CIMA C01 Fundamentals in Management Accounting
- Criado por
- Natalie Gray
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- 83
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