CA Inter Costing By CA RAVI SONKIYA (About Course)
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.
Both have different styles and are utilise for various purposes. Let’s have a look at the important keys.
Cost accounting deals with the calculation and pricing of costs and expenses to purchase or produce something.
It relates to the calculation per unit cost using different costing techniques. Its primary purpose is to facilitate managers in decision-making.
The following are the major functions of cost accounting:
Budgeting: Various budgets are generate in cost accounting to demonstrate cost, revenue, profit, production capacity, and efficiency of equipment and machinery, as well as labour efficiency.
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 organization (GAAP).
For external reporting and internal profit measurement, classify and break down costs. Because expenses things are easy to get such at a fine level, paying for unprofitable things is simple.
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 causes of profit or loss and the elements that influence efficiency in order to aid decision-making. As a result, cause and effect are a crucial aspect of managerial accounting.”
Faculty About (CA Inter Costing) By- CA RAVI SONKIYA
CA Ravi Sonkhiya, a fellow member of ICAI, is a well-known instructor for CA/CS/CMA students in Accounts, Cost Accounting, and Financial Management.
He is the Director and Senior Faculty of RAVI SONKHIYA CLASSES in Jaipur, which was previously known as “EDUCARE.” Over the last fifteen years, the author’s institution has grown from strength to strength.
In a year, the institute trains over 50,000 CA hopefuls at various levels, including CPT, IPCC, and FINAL. Over the years, this institute has delivered more than 200 AIR in CA/CS/CMA examinations.
He is visiting faculty at different institutes, including “INTERNATIONAL COLLEGE FOR GIRLS” and “INDIA INTERNATIONAL INSTITUTE OF MANAGEMENT AND TECHNOLOGY,” in addition to giving lectures to CA Final and IPCC/INTER students in Jaipur.
His lectures on current events are a staple of the major Management Institutes. He has written several books for CA/CS/CMA students on the topics of COSTING FOR CA FINAL AND ACCOUNTS, ADVANCE ACCOUNTS, COST ACCOUNTING, and FINANCIAL MANAGEMENT.