It was furring the early years of World War 2 that the concept of cost as an independent entity, made its beginning in the industrial circles of the world. Due to prohibitive cost of defense operation, the then governments at war found it difficult toy ascertain the price of defense purchases and thus evolved the concept of cost plus contracts. This for the works being undertaken by them for the award of contracts.
Career
Cost accountants include installation of costing system ,techno-economic studies of projects , specific cost studies ,pricing optimum utilization of capacity and resources ,value analysis / engineering cost reduction , efficiency and profitability improvement , profit planning, introduction of standard costing system , services to banks , financial institutions, conducting project appraisal , feasibility studies , project monitoring , project management and control , financial management , project consultancy , design of management , organizations and methods , tax planning ,diagnosis and revival of sick units , merchant banking ,investment counseling , management and internal audit , training energy audit and environment audit . It is to for no statutory field have tremendously increased for the cost and management accountants being good result shown by them in the relevant field
State government and other organizations in addition to cost audit and cost consultancy services, the professional has been recognized by the state governments for conducting internal audit in the state. Several banks have empanelled cost accountants for conducting the physical verification of inventories declared by their clients for availing working capital assistance. The profession has also been recognized for conducting loss survey for insurance policy.
Career
Cost accountants include installation of costing system ,techno-economic studies of projects , specific cost studies ,pricing optimum utilization of capacity and resources ,value analysis / engineering cost reduction , efficiency and profitability improvement , profit planning, introduction of standard costing system , services to banks , financial institutions, conducting project appraisal , feasibility studies , project monitoring , project management and control , financial management , project consultancy , design of management , organizations and methods , tax planning ,diagnosis and revival of sick units , merchant banking ,investment counseling , management and internal audit , training energy audit and environment audit . It is to for no statutory field have tremendously increased for the cost and management accountants being good result shown by them in the relevant field
State government and other organizations in addition to cost audit and cost consultancy services, the professional has been recognized by the state governments for conducting internal audit in the state. Several banks have empanelled cost accountants for conducting the physical verification of inventories declared by their clients for availing working capital assistance. The profession has also been recognized for conducting loss survey for insurance policy.
COMMENTS