Uniform Costing Question:
Download Questions PDF

Can you please explain what are the per-requisites for successful implementation of uniform costing?

Answer:

The pre-requisites for successful implementation of uniform costing are as follows:

-Firms in the industry should have mutual trust and willingness to share relevant information.

-A spirit of co-operation should be there among the participating firms

-Free exchange of ideas, methods used.

-Bigger firms should take the lead to share with smaller firms, their experience, achievements of efficiency, improvements and know how to enable the later to improve their performance.

-No hiding or withholding of information.

-No rivalry, competition among the competitors.

-Uniformity must be established with regard to several following points before introducing uniform costing in the industry:
1. Size of the units in the industry
2. Production methods
3. Accounting principles, procedures used

Download Uniform Costing Interview Questions And Answers PDF

Previous QuestionNext Question
Explain what are its various contents?What is uniform costing?