Costing, Cost Controls, Cost Efficiency & Cost Audit
Contributing to Profit Maximization and overall business growth by applying various Costing Tools. Proper product costing enables Price Fixation, Negotiation, and competitive sustainability. Cost Controls give command over all expenditures. Cost Efficiency maximizes output from minimum resources
- Scope of Services
What's Covered
- Product Costing
- Accurate and scientific costing of products/services
- Considering Direct, Indirect, Fixed, Variable and Semi-variable costs
- Supporting price fixation and negotiation
- Competitive cost analysis
- Activity Based Costing (ABC)
- Detailed study of each activity in production or service
- Cost Pools, Cost Drivers and Cost Objects analysis
- Identifying non-value-adding activities
- More accurate overhead allocation
- Cost Controls
- Budgeting — setting cost limits in advance
- Standard Costing — estimating expected costs
- Variance Analysis — actual vs expected costs
- Cost Reduction Measures — cutting unnecessary expenses
- Cost Efficiency
- Achieving maximum output with minimum cost
- Doing things in the most economical way
- Avoiding waste while maintaining quality
- Improving productivity and output
- Cost Audit
- Audit Scope (CRA-1)
- Cost Accounting Standards Compliance
- Verification of Specific Records
- Capacity Analysis
- Cost Report (CRA-3)
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