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

Hi Rahul sir.Rahul sir my name is akhil sir i have no career sir i need your help for choosing career.Sir please help me.

Hello Akhil, We are here to help you choose a career itself. But for that we need you to be specific as to what you currently doing, your qualificatio .. read more

Return on investment

Hello Siddharth,  Interesting question. And it is always better to know what will be ones benefit on certain investments.  Please note, grad .. read more

Can I get a consolidated analysis of average Return on investment for TOP 20 MBA colleges in India?

Hello Siddharth,  Interesting question. And it is always better to know what will be ones benefit on certain investments.  Please note, grad .. read more

Top 5 B schools that accept MAT score

Hello Roopa, Good question. But please note as a layman it is difficult for me to rate any institute. Such ratings are given only by the board or educ .. read more
Most Popular

If I start as a Computer Engineer, where should I see myself after five years, given that I keep working in same field?

Hi Swarali, Good question! In 5 years time; if you are working for a large Computer organization; You are likely to end as one of the following; 1. Sp .. read more

Do 12th board marks have any importance in jee mains

Hello, Thanks for Asking...!!   The Union Ministry of Human Resource (HRD Ministry) has decided that Class XII marks will not be a factor for det .. read more

I want to become a Bio Technologist. What is the eligibility criteria for that?

To become a BIO Technologist, Take a science in a high school: You have successfully completion of 10+2 in science After you can opt the graduation co .. read more

What are the off-campus placement opportunities for a Electronics & Communication Engineer student?

being as an engineer there are lot off opportunities , first of all you make a point where you want to build your career 1. software testing 2. softwa .. read more