identify the essentials of an ideal cost accounting system

Answer:

• An ideal coasting system should be simple  .the simplicity is important for easier understanding by all people at all levels .
• an ideal casting system should be flexible . The flexibility is important  because when changes in circumstances and conditions occur the system  can change with ease .
• An ideal  costing system should be economical . it should not be expensive than  the business financial capability , plus when it is expensive the management may not be willing to pay for it .
• An ideal coasting system should be comparable such that during performance evolution  by manager post figure can be used to compare  performance.
• It should be suitable for the business meaning it should be drawn up in accordance to the size ,requirement ,nature and condition of the business .