Dear Ifrs members,
A manufacturing company in plastic have main raw materials based on
oil and sometimes during the month the price of oil increase and
decrease very sharply. However, in the software of the accounting
system, the cost is based on standard cost changed only once a month.
The name of the software is BPCS.
My Questions are:
1. Do you have any ideas to the fluctuation of real cost ?
2. Is there any one know about this software and if so, could you
recommend on the standard cost and actual cost on this system?
3. What cost accounting system should we use for this specific field?
Thanks and Regards,