CA Inter Costing Course By Prof Mayuresh Kunkalienkar
J.K. Shah Classes
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.
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 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 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 organisation (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.
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 is a crucial aspect of managerial accounting.”
About (CA Inter Costing) Faculty– By Prof Mayuresh Kunkalienkar
J.K. Shah Classes takes pride in setting new coaching trends in the commerce coaching segment.
When it comes to studying, we believe that each generation has its own set of requirements.
Similarly, with more studies and businesses moving online, J.K. Shah Classes.
Felt the time had come to provide CA students with an online coaching platform.