ZIMSEC A-Level Accounting
3.1Cost terms and purpose
Cost terms and purpose in ZIMSEC A-Level Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic42 practice questions2 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 3.1.1Define cost terminology (cost, costing, cost coding, cost unit, cost centre) and explain the purposes of cost accounting.
- 3.1.2Classify costs (period and product, relevant and irrelevant, opportunity, sunk) and separate fixed, variable, semi-fixed and semi-variable costs.
- 3.1.3Distinguish between cost accounting and management accounting.
Lessons
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Cost behaviour: fixed, variable, semi-variable and stepped costs
50 min
- Full access
Cost terminology and the purposes of cost accounting
45 min
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Sample question
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