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Cost Accounting has certain restrictions. Important among them are as follows:
a) Based on estimates: Oblique expenditures are not billed completely to a item or procedure. It is billed to all the items and techniques on the foundation reports. Real cost differs from approximated cost. Due to these restrictions, all cost accounting outcomes are taken as simple reports.
b) Deficit of uniformity: Procedures of cost accounting followed by different companies are different for different items. There is no consistency. There is also probability of change in costs content concerns for development. All these cause to different cost outcomes for the same function.
c) Many conventions: There are many conferences for distinction of expenditures, costs of content concerns, apportionment of indirect expenditures, adopting of minor or conventional cost, etc. These make problems in identifying your cost, because no one type of price is appropriate for all requirements and in all conditions.
D) Expensive: Price accounting is costly. It includes plenty of office won for keeping various priced at information for different requirements. For method and small dimension problem, the advantage resulting from priced at program may not rationalize the price engaged.
e)Result needs reconciliation: Information and outcomes offered b; economical accounting and price accounting may be different for the as action. This needs getting back together to find out correctness of the two before taking any choice.
f) Dependent: It is not a separate program of accounting. It is determined by other accounting techniques.
g) Does not consist of all items of expenditure and income: Waste simply economical characteristics such as interest, economical costs, lower price and loss on problem of stocks and debentures, etc. are not taken into account in Price Bookkeeping.
h) Not a proper science: Like other accounting program, it is not an exact] technology but an art that has designed through concepts and methods.