Page 48 - DCOM206_COST_ACCOUNTING_II

Unit 2: Reconciliation of Cost and Financial Accounting

Depreciation charges were over recovered in cost account by ` 200. Notes
Administrative expense was under recorded in financial accounts by ` 400.
Provision for income-tax made in financial books is ` 9,600.
Goodwill written-off ` 250 was not recorded in financial book.

Interest received on investment during the year ` 300.
Transfer fee amounting to ` 100 were received during the year in connection with
registration of transfer of shares.

Answers: Self Assessment

1. Wheldon 2. Eric L. Kohler

3. difference 4. valuation
5. True 6. False
7. False 8. False

9. True 10. False
11. Statutory 12. Inefficiencies
13. Memorandum 14. double entry
15. external

2.8 Further Readings

Books Bhar. K.B. (2008) Cost Accounting, Methods & Problem, Academic Publishers.

Lal, Jawahar & Srivastava, Seema (2009) Cost Accounting, 4 Edition, Tata McGraw-
th
Hill Education.
Nigam, Lal B.M. & Jain I. C. (2001) Cost Accounting: An Introduction, PHI Learning
Pvt. Ltd.
Thakur. S.K, (2009). Cost Accounting: Theory and Practice, Excel Books.

Online links h t t p : / / c l a s s o f 1 . c o m / h o m e w o r k _ a n s w e r s / c o s t _ a c c o u n t i n g /
reconciliation_of_cost_and_financial_accounts/
http://ebooks.narotama.ac.id/files/A%20Textbook%20of%20Financial
%20Cost%20&%20Management%20Accounting%20(Revised%20Edition)/
Chapter%2025%20%20Reconciliation%20of%20Cost%20and%20Financial
%20Accounts.pdf
http://www.scribd.com/doc/4089959/Reconciliation-of-CostFinancial-Costing
http://www.caclubindia.com/share_files/reconciliation-of-cost-financial-
accounts-25703.asp#.UOUXAOlazfI

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