Cost & Management Accounting
Cost and management accounting is the core discipline of a Cost Accountant. The firm designs and reviews costing systems, maintains cost records prescribed under the Companies Act, 2013, conducts statutory cost audits, and prepares the management information that operating decisions depend on.
Cost Audit
Statutory cost audit under section 148 of the Companies Act, 2013 and the Companies (Cost Records and Audit) Rules, 2014.
Scope and framework →Cost Record Maintenance
Design and maintenance of cost accounting records in Form CRA-1 for companies covered by Rule 3 of the Cost Records and Audit Rules.
Scope and framework →Product Costing
Unit-level product cost computation for pricing, quotations, margin analysis and inventory valuation.
Scope and framework →Activity-Based Costing
Allocation of overheads to products, customers and channels based on the activities that drive cost.
Scope and framework →Cost Reduction Studies
Structured review of material, conversion and overhead costs to identify measurable reduction opportunities.
Scope and framework →Cost Management Systems
Design and implementation of costing systems integrated with the ERP and the financial ledger.
Scope and framework →Standard Costing
Setting material, labour and overhead standards and analysing variances against actual performance.
Scope and framework →Budgeting & Variance Analysis
Annual and rolling budgets, flexible budgets and monthly budget-versus-actual analysis.
Scope and framework →MIS Reporting
Monthly management information packs: profitability, working capital, cost trends and key performance indicators.
Scope and framework →Operational Cost Analysis
Analysis of cost behaviour, capacity utilisation, break-even and contribution by product, plant or location.
Scope and framework →