Abstract
The profit and loss account summarizes all the costs and revenues of an organization over a defined period of time. Whilst this information is extremely useful in determining the overall profitability of the organization, there is also a need to determine the costs and the profitability of individual products.
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Further reading
A well-analysed example of absorption costing applied in a marketing context is given in Managerial Accounting: Method and Meaning,Chapter 3, by R. M. S. Wilson and W. A. Chua (Van Nostrand Reinhold, 1988).
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© 1991 A.J. Berry and R. Jarvis
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Berry, A., Jarvis, R. (1991). Accounting for overheads and products costs. In: Accounting in a Business Context. Springer, Boston, MA. https://doi.org/10.1007/978-1-4899-6944-6_14
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DOI: https://doi.org/10.1007/978-1-4899-6944-6_14
Publisher Name: Springer, Boston, MA
Print ISBN: 978-0-412-37510-1
Online ISBN: 978-1-4899-6944-6
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