Raman kumar  Garg

How the role of a Cost Accountant has changed over the years and what it will be like in the future?

Kindly don't miss out any point in answer

by Raman kumar Garg
1 answer
| Share :

1 answer

RE: How the role of a Cost Accountant has changed over the years and what it will be like in the future?

Vaibhav Bhutra
Vaibhav Bhutra
Verified Career Expert
Career Counselor/ Director at Educomp Vidyamandir Classes
  • Surat

Hi,


Let me introduce my self i am a Cost Accountant along with other degree in finance such as MBA, FRM i have been working in Investment banking and currently and educational Enterprenuer.

Every Job or skill sets needs to be updated and constantly upgraded, similarly the have been changes in cost accounting profession as well, lets first understand what Cost accountant job constitutes basically of Which activities :

Cost Optimization : Finding out opportunities of cost optimization in the Production and implementing in the company.

Maintaining Records : This is one of the most important activity of being a cost accountant all the records need to be maintained as per Regulatory and internal needs

Decision Making: There has been a major need forcontinuallydeciding on various decision of business and cost accountant provide major inputs in all the decision making in business.

Cost Accountant
In today competitive world with cut throat competition there is always a responsibility of cost reduction on cost accountant and he is the one who have to take some important decision needed to remain competitive and sustain the market share.

Apart from the competition part there is also a regulatory requirement of government to conduct a cost audit and keep the report for certain designated industries. so with the changes a cost accountant have to be really update with the need or regulations.

A vibrant cost accountant Should also keep oneself involved in other finance decision as well since a cost accountant is a degree which provides knowledge of all the business decisions and he/she could act as a finance single point.

Thanks







In order to post replies to the question: "How the role of a Cost Accountant has changed over the years and what it will be like in the future?"

Post Reply

Latest ANSWERS

Project topics for msc microbiology

Hi Vigneshwari good afternoon, as per our telecom I'm sharing here the link of few topics /   https://www.sciencebuddies.org/science-fair-project .. read more

What is the full form of ATMA(entrance exam of Mba)

The full form of ATMA is Agricultural Technology Management Agency   Source:- .. read more

Hello Mam, I want to complete my 12th, since I didn't clear Physics and Maths. I am interested in science but am confused whcih stream I should take to clear 12th by NIOS? Please advise, I have done two years draughtsman course, Prerna

Please call me on 8660442058 I'll guide you   .. read more

List of the universities that offer admission to MSc Geology without entrance exam

Here is the list of the universities for M.Sc. Geology:- Aligarh Muslim University – AMU Allahabad University Andhra University – AU Anna .. read more
Most Popular

Best courses after B.Com to make a good career

Hi, Thanks for the useful article. Apart from the above-mentioned career options, to save the money and time after competing Graduation, Many more opt .. read more

What are the career options after M.Sc Life Science?

Engineering Career: Engineering career has a lot of scopes and you can take direct admission in B.tech in top engineering college of Bangalore Direct .. read more

What is the full form of ATMA(entrance exam of Mba)

The full form of ATMA is Agricultural Technology Management Agency   Source:- .. read more

List of colleges where I can apply for M.Tech without GATE score?

Though Gate is an entrance exam which is compulsory for students who want to join Iit's and Nit's. But all students cannot join through gate. They can .. read more
Caching Date: 11/22/2017 9:15:26 AM