Explained the procedure and concept of valuation of abnormal loss, abnormal gain/effective and output with the help of a question. Student can also watch following lectures related with cost accounting : 1. Break Even Chart (CVP Analysis) in Marginal Costing : https://www.youtube.com/watch?v=EMVs0IL0EfU 2. Budget and Budgetary Control : https://www.youtube.com/watch?v=pYSgMGoK_Jo 3. Machine Hour Rate (Overhead Distribution) https://www.youtube.com/watch?v=MSFlKvvPsig 4. Marginal Costing (Formula Formations) : https://www.youtube.com/watch?v=a5IuuEDaQdw 5. Contract Costing (Introduction) : https://www.youtube.com/watch?v=Dk63lDcbeU0 6. Economic Order Quantity (EOQ)