The role of a cost accountant is to work out the costs of items and services. They also work out the profit from sales and make sure that this matches with the figures on the balance sheet.
A cost accountant's job can be varied depending on what they are employed by. For example, if they are employed by an organisation then they will usually have a more managerial role, whereas if they are employed by a company then their job will be more hands-on and involve working directly with staff to ensure that their accounts are accurate.
Cost accountants are primarily responsible for the cost of goods and services that a company produces or sells. They also manage the cost of raw materials, manufacturing operations, and other expenses related to production.
According to data from Payscale, as of May 2019, median pay for a Cost Accountant in India is Rs. 45900 per month.
A cost accountant is responsible for the day-to-day accounting tasks for a company. They manage the financials of a company and prepare the annual income and expenditure statements.
Cost accountants are eligible to work in India in accordance with the Pay Scale of Central Government Employees. However, they can be paid anywhere between Rs. 2,000 to Rs. 4,000 per month as per their experience and qualifications.
A career in Cost Accountant is a rewarding one with the scope to work across industries.
Cost accountants are responsible for determining the cost of goods or services and recording it in a cost account. They are also responsible for calculating the profit margin and expenses of the company.
A Cost Accountant is an individual who has completed a course in Cost Accounting, which is offered by reputed institutes like Indian Institute of Cost Accountants (IICA), Institute of Chartered Accountants of India (ICAI), etc.
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