Cost Accountant

1. About Career

Do you have an analytical mind? Do you have an eye for detail? Do you find financial accounting interesting? If yes, you should consider a career in cost accounting.

Cost accounting is a method of accounting that aims to capture the total cost of production of a product or to provide service by observing all expenses. Cost accounting is used primarily by management to make business decisions. Cost accountant helps the company in cast management, strategic planning and cost-efficient decision making.

2. Roles and Responsibilities of a Cost Accountant

• • Plan, study and collect data to determine costs of business activity such as raw material purchases, inventory and labour.

  • Collect historical cost data to estimate costs for current or future products.

  • Cost accountant advice management for product pricing based on analysis of historical data.

  • Provide management with reports specify and compare factors affecting prices and profitability of products or services.

  • Analyze sales trends.

  • Control the expenditures and overall budget.

  • Prepare regular cost reports.

  • Conduct an audit of costs and prepare reports.

  • Make estimates of new and proposed product costs.

  • Provide management with reports specify and compare factors affecting prices and profitability of products or services.

  • Maintain Cost Accounting System

  • Assist in the month-end close of the general ledger.

  • Conducts physical inventories and monitors cycle count program

  • Reconciles finished goods inventories.

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3. Key Skills Required for Cost Accountant

• • Financial Accounting

  • General Ledger Accounting

  • SAP Financial Accounting and Controlling (SAP FICO)

  • Microsoft Office

  • Cost Accounting

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4. Salary and Demand for Cost Accountant

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  Demand is High for Cost Accountancy.

  
  


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  Salary levels are High for Cost Accountancy. For fresher average salary is more than 5 Lacs.

  
  


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  Fees levels of the course is Low. To pursue this course student need to spend lesser than 2 Lakhs.

  
  


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  Level of preparation for Cost Accountancy is High. Students spend more than 1 Year. to prepare for entrance test of Cost Accountancy.

  
  
  
  
  
   

Industry Demand