CA Inter Costing By CA Namit Arora

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About The Course – CA Inter Costing

CA Inter Costing “Accounting is a business language,” says the author. This language can be use to communicate financial transactions and their outcomes.

Cost accounting and management accounting are two key accounting words that are use to control and establish the policies of a company.

Also have sharp styles and are used for different objectives. Let’s have a look at the important keys.

Cost accounting

Cost accounting deals with the calculation and pricing of costs and expenses to purchase or produce something.

It relates to calculation per unit cost using different costing techniques. (CA Inter Costing). Its primary purpose is to facilitate managers in decision making.

The following are the major functions of cost accounting:

Budgeting : In cost accounting, several budgets are created to show cost, revenue, profit, production capacity and efficiency of equipment and machinery, as well as labour efficiency also,
Because reports are not unnatural by the norms of generally accept Accounting Principles. The budget is design in a scientific and systematic manner that is typically unique to the organisation (GAAP).

For external reporting and internal profit quantification, classify and break down costs. Because reports are not unnatural through the norms of commonly accept Accounting Principles.

Management accounting

The provision of suitable information for decision-making, planning, cost control, and performance evaluation is the focus of management accounting.

Data concerning a company entity’s operations is transform into information, knowledge, and wisdom via management accounting. This goes a level beyond cost accounting.

Management accounting investigates the reasons of income or loss and the factors that have an effect on performance so that it will aid decision-making. As a result, cause and effect is an important part of management accounting.”

About (CA Inter Costing) Faculty – CA Namit Arora

CA Inter Costing By CA Namit Arora
CA Inter Costing By CA Namit Arora

CA Namit Arora is a first-class commerce graduate and member of “The Institute of Chartered Accountants of India (ICAI)”. He has cleared all examinations of ICAI in his first attempt. Also he has been teaching efficient since the beginning of 2011.

Worked as a corporate trainer. He has specialised knowledge in Cost and Management Accounting, Financial Management, and Economics

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