January 22, 2010, Newsletter Issue #114: Cost Accountant

Tip of the Week

Cost accounting emphasizes the determination and control of costs. These costs are usually found in the distribution and manufacturing process. Therefore, service companies do not usually utilize cost accounting. The cost accountant needs to have a basic understanding of the financial accounting field. Cost accounting, therefore, is considered an upper level accounting position.The Cost Accountant deals with the company's cost analysis and control. One of the main duties of the Cost Accountant is to assemble and interpret cost data to assist management in controlling current and future operations. Cost Accountants have the responsibility of analyzing company costs to ascertain proper effectiveness and efficiency.

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