What is the job of Cost accountant ?
It is one of the most essential management services. It is a fairly new branch, a profession ushered in during the last century. With increase in competition and consequent economic pressures, cost and management accountancy has been finely interwoven into the main fabric of management. Collection, assimilation, collation and analysis of financial information from all areas of an organisation are the functions of a cost accountant. There is no denying the fact that an organisations success or failure is dependent on the quality of information made available to the management. This is where a cost accountants productivity is of vital importance to the company. It is his primary job to ensure that managerial decisions are well within the cost prescripttions. The cost accountant is expected to give a prognosis for projects to be undertaken based on past and present financial performances. In order to do this a cost accountant needs to take into account factors like cost of raw materials,
A1. It is one of the most essential management services. It is a fairly new branch, a profession ushered in during the last century. With increase in competition and consequent economic pressures, cost and management accountancy has been finely interwoven into the main fabric of management. Collection, assimilation, collation and analysis of financial information from all areas of an organisation are the functions of a cost accountant. There is no denying the fact that an organisations success or failure is dependent on the quality of information made available to the management. This is where a cost accountants productivity is of vital importance to the company. It is his primary job to ensure that managerial decisions are well within the cost prescriptions. The cost accountant is expected to give a prognosis for projects to be undertaken based on past and present financial performances. In order to do this a cost accountant needs to take into account factors like cost of raw material
