Raman kumar  Garg

What are the common myths about Cost Accountants and their work?

Tell me all about it

by Raman kumar Garg
1 answer
| Share :

1 answer

RE: What are the common myths about Cost Accountants and their work?

Jyoti B Dhingra
Jyoti B Dhingra
Verified Career Expert
Career Consultant at Sun Productivity Inc
  • Mumbai

Hi,

Cost accountant is a professional who is responsible for the analysis and evaluation of the cost involved in various activities and come up with the cost effective solutions for them.

This is a very respectable profession like all other professions.But there are certain myths about this profession.They are as follows -

1)Cost Accounting is only about maths and only maths.
As the name suggests it is obvious,but rather than maths there are many other things which are important for cost accounting where maths is not involved.

2) Cost accountant is a tax agent.
Cost accountant is not a tax agent.Tax agents have a different profile altogether.Both the subjects are different.

3) Cost accountancy is for men only.
Not at all.Now a days girls are doing it better than the boys in this particular field.There is no gender bias for this field.

4) Accountants are shy and introverted,even boring and hate working with clients.
First myth that they are introverted is not possible,because an introvert can not become a cost accountant.They are on the contrary very smart rather than boring.they love their clients as they get business from them.

5) Small businesses don't need accounting or it can just wait until it becomes too much for me to manage.
Every business requires a qualified cost accountant right from the beginning of the business.It is not possible for a businessman to manage every thing on his own.

6)A cost accountant will cost me an arm or a leg.
No they are not that costly.They can be managed with in the current means the company is having.

7) I pay business expenses out of my pocket.Its really no big deal.

8) I do not have time and i do not need to set goals for myself and my business.
This is completely wrong.You have to set goals in order to grow the business and it is possible through an experienced cost accountant.

9) I really do not require financial reports to know how my business is going.
Financial reports are very important to observe the growth of the business,and it is possible only with the help of a cost accountant.

10) I can do the accounting my self.
Professional knowledge is important even if you buy an expensive accounting software.You end frustrated because you need to understand various functions.

So these were the various myths about cost accountants.I hope it is enough to understand the subject.

ALL THE BEST!!!!!!!!

In order to post replies to the question: "What are the common myths about Cost Accountants and their work?"

Post Reply

Latest ANSWERS

I want to write my 2 year puc exam

Hi Venky good evening, Can you please give some more details like 1. After how many years you wish to appear 2. In specific which place you want us to .. read more

do you provide counselling for someone wanting to change career at 30

Hi Meg good evening, yea off course we will. Thank you. .. read more

Can I get sure this is not fake

Hi Seethu good evening, Can you please frame your question even more clear? Thank you.  .. read more

Iam really confused sir. I took bcom after 12th science and right now iam in the second year of bcom. Iam really confused about my career. I want to do mba after bcom from top university. It every time kills me should i have opted bba instead of bcom??

Hi Siddiqui good evening, Relax and breathe. You will be learning about business administration in BBA and that will make you find syllabus of MBA mor .. read more
Most Popular

Hii i want to do pgdm in financial market...is National institute of financial management faridabad is good or not...i mean m looking to do pgdm from that institute...is it worth it or not ? Pls tell me asap thanks

  Dear Aspirant. NIFM is an autonomous Institution of Ministry of Finance, Govt. of India and the PGDFM is a 2-year full-time program a .. read more

What are the things if a Psychologist learns, will be helpful in long run?

1. Psychometric testings like testing - personality, intelligence, academic performance. 2. Therapeutic techniques like Cognitive Behaviour Therapy, R .. read more

After M.A. in psycoloy through IGNOU where shouid i study clinical psycolog??

If you want to become a clinical psychologist, then you should study M.Phil in clinical psychology which must be approved by RCI. For that course MA P .. read more

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

M.Sc. candidates can pursue a career in the field of Clinical Embryology & Assisted Reproductive Technology. MOMSOON Fertility & IVF Centre is .. read more
Caching Date: 10/20/2017 9:31:35 PM