I have given my first contribution to Wikiversity by writing following points at wikiversity . Actually , I want to find articles relating to cost accounting in wikiversity instead of wikipedia but contents are redirected from wikiversity to wikipedia . After this this , I have searched the limitation of cost accounting in wikiversity search engine , and it is special in wiki software that if there is no any page , you can create it and edit box will open
and , By this way , I have written the points of limitation . I have explained it below . If you know more point or more explanation , then you can can write it in Wikiversity at my contribution page .

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My Explanation on Limitation of Cost Accounting

1. Non – Cost of production items

Some of non Cost item can be included in cost of production like cash discount, so result of total cost of production will not represent correct.

2. Large number of conventions and estimations

Determination of cost is very tough in cost accounting due to application of large conventions and estimations. To determine cost of stock on the basis of average or standard price is based on estimation. If estimation is wrong, then cost may wrong.

3. Expensive

Cost Accounting is expensive for small enterprise.

It is also limitation of cost accounting. Different overheads are absorbed by different basis like floor area basis, capital value or no. of employee. There is no unique method of absorption of overhead. So, many doubts are created in the minds of students.

5. Problems of choosing right technique of cost ascertainment

It is very difficult to know which is best technique to find cost in industry, many cost accountant are using marginal costing and other are using absorption cost but it is most difficult to tell which is the best .

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Accounting Education: Write More Explanation of Limitations of Cost Accounting at Wiki
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Accounting Education
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