![]() Therefore, reconciliation of cost sheet and financial statement should be done on a regular interval. ![]() Data of financial statement is used for preparation of cost sheet. ![]() Although cost sheets are prepared as per the requirements of the management, the information to be incorporated in a cost sheet should comprise of cost per unit and the total cost for the current period along with the cost per unit and the total cost of preceding period. A cost sheet is prepared to know the outcome and breakup of costs for a particular accounting period. ![]()
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