Calculated Move - Career in Management Accountancy

It is quite good to see articles published in the leading magazines encouraging people to make their career in cost accountancy. Articles like these make general public aware of the role of cost accountants in the business.

The article is a published in Tribune and very informative article. The author writes

"Cost and management accounting helps in planning, monitoring and controlling the cost and price of a product or a service. The process involves critical monitoring of relevant costs and overheads like material, labour, capital costs etc., involved in making a product or providing a service. Such accountants analyse the sales trend to strike a balance between the demand and supply, to prevent overproduction. They also monitor the performance, to spot and report on problems and prevent them from occurring in future. The job involves advice on product pricing, production planning and inventory control, product wise return on capital employed, investment proposals, preparing profit and loss reports etc. The cost accountant, therefore, monitors the company’s performance and efficiency, and guides managerial decisions by making financial forecasts. With the growing competition in the corporate sector, the role and importance of cost accountants has increased greatly, as they closely analyse costs and devise ways to reduce it as far as possible."

Click here to read more on The Tribune


Santosh Puthran

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