CA Inter Costing By CMA Sumit Rastogi

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CA Inter Costing

  • CA Inter Costing “Accounting is a business language,” says the author. This language can be used to communicate financial transactions and their outcomes.
  • Cost accounting and management accounting are two key accounting words that are used to control and establish the policies of a company.
  • Both have different styles and are utilized for various purposes. 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 the 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: Various budgets are generated in cost accounting to demonstrate cost, revenue, profit, production capacity, and efficiency of equipment and machinery, as well as labor efficiency.
  • Because reports are not unnatural by the norms of generally accept Accounting Principles. The budget is designed 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 are determined at such a fine level, paying from unprofitable things is simple.

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 are transformed 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. hence, cause and effect are a crucial aspect of managerial accounting.”

About (CA Inter Costing) Faculty – CMA Sumit Rastogi

best faculty for ca inter costing CMA Sumit Rastogi
best faculty for ca inter costing CMA Sumit Rastogi

CMA Sumit Rastogi has done B.Com (Hons.) from Delhi University. He is an ALL INDIA TOPPER in Advanced Financial Management paper at CMA Final level. His visiting faculty of CAFM at ICAI.

He is an innovative and knowledgeable professional having more than 10 years of experience in teaching. Financial Management in a simple and easy manner that creates interest in the students and helps them to quickly grasp the subject.

He has taught more than 15000 students across India and produced many rankers in CA & CNIA. Proficient in developing own Methodology, Flow charts, and inventing unique short-cut techniques rather than traditional methods of the books to crack the problems.

Check here for the best faculty for CA Inter Costing By CA Namit Arora