A cost accountant collects and assembles financial data from all the sectors of the company. They must collect the data regarding all the expenses, miscellaneous expenses, bonuses etc and must order it and sort it into different columns and must make it qualified for the final set of accounts. He is also called a financial analyst who can culminate the overall accounts and make it easier for the final process. He makes sure that there is transparency in the area where he is appointed and won’t allow to miss any expenses from his eye.
Any company will need constant evaluation of the costs and of any hidden costs including all the important costs, wages, rents, utilities, furniture and other materials .All the expenses will be calculated and sorted to the final accounts of the financial report. It is the duty of the cost accountant to do the job of collecting the data and sorting it for the purpose of the final accounting.
To be a cost accountant in India you must be a graduate and must pass the exam conducted by the Institute of Cost Accountants in India.
Step 1 To be a cost accountant in India you must pass the first level of exam the foundation course. To write the foundation course you must have passed 12th std from a recognized university.
Step 2 The level two exam of the cost accountant course is the intermediate course. The intermediate course can only be attended after you pass the foundation course.
Step 3 The last step is the final course in the company secretary exam .After the completion of final course you can enroll for practical training.
There are a lot of careers available in the field of cost accountancy if you are pursuing the course of cost accountancy. Some of the known titles for a cost accountant are Chief accountant, Cost controller, accountant, finance director, chief internal director etc.
The starting salary of a cost accountant is Rs 35,000 and the starting salary can also differ according to the different titles and the type of company you are applying for. With experience you can get a much better salary because the job is a lucrative one.
