Can Anyone Explain Different Functions Of Cost Accounting?

The cost accountant has very important function to perform. Primarily he is responsible for the determination of unit, job and process costs, and for the operation of internal control within the cost accounting department. In his sphere of activity are included not only the ascertainment of costs, but also their presentation and interpretation in the form of cost   reports to be presented to the various executives of the enterprise. The advantages of cost accounting summarized in the preceding section show clearly important and valuable information which he must be competent to furnish.

Recording, classifying and summarizing the cost information consist of usual book keeping and clerical work done in the cost accounting department. This work demands accuracy and necessary know and how to handle the office machine and equipment. However this work is mostly of routine nature and can be entrusted to clerks and other junior members of the department.

Analyzing, reporting and interpreting cost is the part of cost accountant's work department an extensive knowledge of costing, considerable background of industrial and business methods. Production processes and a great deal of judgment and skill present and interest cost information to others both in written and spoken form.

Function  of  cost  accounting

Function  of  cost  accounting