Interested to Buy Any Domain ? << Click Here >> for more details...
Define Normal Loss and Abnormal Loss what is the effect in
books of accounts.
- 3 Answers
- 29010 Views
- I also Faced
- E-Mail Answers
Answer Posted / sameer kanade
Certain losses are inherent in the production process and
cannot b eliminated.
These losses occur under efficient operating conditions and
are referred to as Normal or uncontrollable losses.
In addition to losses which cannot be avoided, there are
some losses which are not expected to occur under efficient
operating conditions, for example the improper mixing of
ingredients, the use of inferior materials and the
incorrect cutting of cloths. These losses are not an
inherent part of the production process and are referred to
as abnormal or controllable losses.
Normal loss is the loss expected during a process. It is
not given a cost.
Abnormal losses is the extra loss resulting when actual
loss is greater than normal or expected loss ,and it is
given a costs.
Since an abnormal loss is not given a cost, the cost
producing these units is borne by the good units of output.
Abnormal loss and gain units are valued at the same rate
as “good” units. Abnormal events do not therefore affect
the cost of good production. Their costs are analyzed
separately in an abnormal loss or abnormal gain account
| Is This Answer Correct ? | 26 Yes | 12 No |
Post New Answer View All Answers
Is TDS applicable to Voice Over IP(VOIP) service to an India VOIP service provider? please provide the related acts and case studies.
Who is the maker of the promissory note
what is mean by ledger
define bank Draft
Expand---------ODMT
Sir,I want to be good in accounting .Now i have got an oppurtunity to work in accounts department but i am average in accounts.So how can i improve and work with effiency guide me with ur tips.
Which Exchange determine Foreign Exchange/Currency Rate?
Difference between nonoperating expentiture and non cash expenditure
what is book profit
How Frequently shall a company file the service tax returns and how frequently shall a company pay the service tax to the Government ?
what is Accounting Standers?
In order to comply with the matching principle, adjustment entries are made at the preparation of ----------
what do u mean by comparative budget?
how enter service bill in the tally and what is the process of service bill. aganst service charge @ 10.3%, sercharge 2% cess 1%
Could u show me the sample TDS Document / Template
