What is uniform costing? What is the scope of uniform costing?

What is uniform costing? What is the scope of uniform costing?


Uniform costing is the application of the same accounting and costing principles, methods or procedures uniformly by various undertakings in the same industry. It is a particular technique which applies the usual accounting methods like standard costing, marginal costing, and budgetary control.

Uniform costing method can be advantageously applied:

- In single organisation having number of branches.

- In a number of firms in the same industry who are inter connected through trade association.

- In industries which are similar such as cotton, gas and electricity.
Why is uniform costing implemented?
Uniform costing method is implemented due to the following advantages:…
What are the pre-requisites for successful implementation of uniform costing?
The pre-requisites for successful implementation of uniform costing are as follows:..
Are there any disadvantages of implementing Uniform Costing? If yes, what?
Yes, there are few disadvantages of implementing Uniform Costing. Following are the main disadvantages: …
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