Why Cost Accountant?

A businessman needs its organization to survive in the competitive market where it’s not easy to maintain the sustainability. For that purpose consultants are hired. They are the one who are experts in their particular field. Their consultancy can keep you sustain in the market and gives you the proper growth.

Who is a Cost Accountant? Cost Accountant is a financial specialist who determines the actual costs associated with the product manufactured or service provided. Cost Accountant is a type of management accountant whose specialization is concerned with analyzing the costs of products of company.

Cost Accountant mainly deals with cost of production, their cost control and cost reduction and using various techniques to minimize the cost. So, a cost accountant can be called as Operational Consultant who consults you on their business operations related to the production of goods and services.

See, company can lose its potential profit if they don’t have the correct knowledge and advise regarding their product cost. So, cost accountant provides an insight information about the availability of capacity, cost drivers for the cost centre so that inefficiency can be measured. These can lead the company to increase their profit.

Cost Accountant provides the service of supply chain management where the cost related to the process of transformation of raw material into final products can be managed and that will also lead to customer value maximization and competitive advantage in the market place.

Below given the services that a cost accountant in practice provides:

Consultant Services

Audit & Other Services

  1. Financial planning and policy determination
  2. Cost management planning and policy
  3. Capital structure planning and policy
  4. Working capital management 
  5. Project reports and feasibility studies
  6. Budgeting and Budgetary Control
  7. Supply Chain Management
  8. Inventory management
  9. Market research and demand studies
  10. TCM, TQM, BPR, Cost control and Value Analysis 
  11. Control methods and management information and reporting 
  12. Designing Staffing as per Business Process
  13. Framing Employee Benefit measures   
  14. Management, Operational, Quality, Environmental and Energy audits 
  15. Valuation in Business Reorganizations
  16. Strategic Positioning, Integration
  17. Systems analysis and Design
  18. Advisor on Funds Management
  1. Cost Audit, Advising on Cost Records Maintenance 
  2. Special Audit under Customs Act, Central Excise Act, Service Tax Laws, VAT laws of various states 
  3. Certification under Central Excise, Customs, Service Tax, EXIM Policy 
  4. Internal Audit & Concurrent Audit
  5.  Stock Audit for Banks
  6. Consultancy - Tax; Project Management
  7. Surveyor and Loss Assessor
  8. Recovery Consultant in Banking Sector
  9. Advisor-Business Valuation; Financial Services
  10. Trustee, Executor, Administrator, Arbitrator Receiver, Appraiser, Valuer
  11. Compliance Audit of RBI
  12.  Assignments by the Central or State Government, Court of Law, Labour Tribunal or any other statutory bodies, regulatory bodies etc.