Cost Audit

Cost Audit

Cost Accountants are Professionals with expertise in the fields of cost accounting, business registration, cost auditing, regulatory compliance, information systems, management and more. Cost accountants are responsible for budgeting, cost management, performance evaluation and asset management within a company or organization. They typically collaborate as part of an executive team to create a financial plan for the organization. They may work with corporate executives or heads of companies to strategically plan for a company, or they may prepare financial reports for tax authorities, creditors, stockholders and regulatory agencies.

Since managers are making decisions only for their own organization, there is no need for the information to be comparable to similar information from other organizations. Instead, information must be relevant for a particular environment. Cost accounting information is commonly used in financial accounting information, but its primary function is for use by managers to facilitate making decisions. Unlike the accounting systems that help in the preparation of financial reports periodically, the cost accounting systems and reports are not subject to rules and standards like the Generally Accepted Accounting Principles (GAAP). As a result, there is wide variety in the cost accounting systems of the different companies and sometimes even in different parts of the same company or organization.

Glade filings is the largest business services platform in India, offering a range of services like Cost Accountants, internal audit of private and public limited companies, Statutory Audit, Secretarial Auditor and Legal Advisors. Get a free consultation about Cost Accountants through GladeFilings Consultant.