Share:
Career Library > Cost Accountancy

About Career

Do you have an analytical mind? Do you have an eye for details? Do you find financial accounting interesting? If yes, you should consider a career in cost accounting.

Cost accounting is a method of accounting that aims to capture the total cost of production of a product or to provide service by observing all expenses. Cost accounting is used primarily by management to make business decisions. Cost accountant helps the company in cost management, strategic planning and cost-efficient decision making.

What are the roles and responsibilities for Cost Accountant?

    • Plan, study and collect data to determine costs of business activity such as raw material purchases, inventory and labour.
    • Collect historical cost data to estimate costs for current or future products.
    • Cost accountant advice management for product pricing based on analysis of historical data.
    • Provide management with reports specify and compare factors affecting prices and profitability of products or services.
    • Analyze sales trends.
    • Control the expenditures and overall budget.
    • Prepare regular cost reports.
    • Conduct an audit of costs and prepare reports.
    • Make estimates of new and proposed product costs.
    • Provide management with reports specify and compare factors affecting prices and profitability of products or services.
    • Maintain Cost Accounting System
    • Assist in the month-end close of the general ledger.
    • Conducts physical inventories and monitors cycle count program
    • Reconciles finished goods inventories.

 

What are the key skills required for Cost Accountancy?

  • Financial Accounting
  • General Ledger Accounting
  • SAP Financial Accounting and Controlling (SAP FICO)
  • Microsoft Office
  • Cost Accounting

What are the career opportunities in Cost Accountancy?

  • Cost Consultant
  • Cost Estimator
  • Cost and Risk Analysis Manager
  • Estimator
  • Estimator Project Manager
  • Preconstruction Manager
  • Cost Accountant
  • Cost Analyst
  • Financial account

What is the salary and demand for Cost Accountant?

  • Demand is High for Cost Accountancy.
  • Salary levels are High for Cost Accountancy. For fresher average salary is more than 5 Lacs.
  • Fees levels of the course is Low. To pursue this course student need to spend lesser than 2 Lakhs.
  • Level of preparation for Cost Accountancy is High. Students spend more than 1 year to prepare for entrance test of Cost Accountancy.

1 Fees
Low
2 Demand
High
3 Salary
High
4 Level Of Preparation
High

Career Videos for Cost Accountancy as a career curated from Youtube

What education is required to become a Cost Accountant?

  • Student can do 12-Commerce. Then complete Pursue Foundation( 8 months). Further you can Proceed with Intermediate course(1 months. Further you can Proceed with ) Final course (18 months)..
  • Student can do 12-Commerce). Then complete Pursue graduation. Further you can Proceed with Intermediate course for 10 months. Further you can Proceed with Final course for 18 months..
  • Student can do 12-Commerce. Then complete Pursue graduation. Further you can Proceed with program of Certified Management Accountant (U.S).

Career Navigator 1

12-Commerce

Pursue Foundation( 8 months)

Intermediate course(1 months

) Final course (18 months).

Career Navigator 2

12-Commerce)

Pursue graduation

Intermediate course for 10 months

Final course for 18 months.

Career Navigator 3

12-Commerce

Pursue graduation

program of Certified Management Accountant (U.S)

What are the best colleges for Cost Accountancy in India?

For Graduation

  • Shri Ram College of Commerce
  • Lady Shri Ram College for Women
  • Hindu College
  • Hansraj College
  • Loyola College
  • Christ University, Commerce And Management, Bangalore
  • Stella Maris College, Chennai
  • Symbiosis College of Arts and Commerce, Pune
  • Madras Christian College - [MCC], Chennai
  • Mithibai College of Arts, Mumbai

For Post Graduation

  • Shri Ram College of Commerce
  • Lady Shri Ram College for Women
  • Hindu College
  • Hansraj College
  • Loyola College
  • Stella Maris College, Chennai
  • Madras Christian College - [MCC], Chennai
  • Mithibai College of Arts, Mumbai
  • Sri Guru Gobind Singh College of Commerce
  • Sri Venkateshwara College

Recommendations

B

Career in Banking and Related Services
C

Career in Chartered Accountant
F

Career in Financial and Investment Planning
A

Career in Actuarial Science
C

Career in Company Secretary
E

Career in Economics
C

Career in Commerce with Analytics
C

Career in Company Secretary