SOURCE OF COST ACCOUNTING DATA

In addition to invoices and documents supporting transaction of materials purchased consumed or transferred between department the account requires reports of time studies record of worker actual time bills of material and lists of operating and planning schedules. Capacity studies machine tools requirement and statistics regarding floor space machine capacities and power rating or power consumption constitute additional source data required. The accountant’s dependence upon information furnished by outsider necessitates source data are accurate reliable and available at the proper time.