Cost Accounting, which is a kind of management accounting, is a specialized area of expertise dealing with the analyzing of cost of products sold or manufactured by a company. To make any organization to run profitably, it is highly essential to understand the precise costs connected with a product and the information should be used for setting of appropriate costs. This work is effectively done by cost accountants and therefore they play a vital role in the financial decision-making of an organization.

Job in Government organizations for cost accountants:

Almost every organization needs a cost accountant, irrespective of whether it is a government-run or private organization. Accurate cost accounting enables an organization to increase profit and reduce financial waste. Cost accountant several factors like overhead figures, inventory costs, waste costs, packaging cost, product cost, etc… for determining the cost of service or product of the organization since they can understand how these factors can influence the selling price of the product or service. Therefore, government organizations in any field appoint candidates for cost accountancy field to determine the cost of their service or product to bring profit to the organization.

Latest job notifications:

The name Public sector organizations that recently recruited candidates for the field of cost accountancy are given below:

• South Indian Bank

• Premier Schedule, A mini Ratna Public Sector Company

In addition to these, realizing the importance of the profession of cost accountancy, the central government of India has constituted a nation-level cadre called as Indian Cost Accounts Service (ICAS) in par with other Class-I Services like IFS, IAS, etc…for the purpose of advising the government in pricing and cost and in framing of appropriate tax and fiscal policies. Also, according to the decision of the All India Council for Technical Education, fellow members with ICWAI qualification are treated equally with Ph. D candidates with respect to appointment in the post of lecturer, assistant professor, reader, associate professor and professor in management and professional institutions.

Educational Qualification:

The educational qualification required to become a professional cost accountant is to take up CWA course, which means Cost and Works Accountancy course. This course is offered by the Institute of Cost and Works Accountants of India. The course is divided into three levels namely foundation course, intermediate course and final course. The foundation course is to be done by the candidates who have completed their SSLC or plus two. Intermediate course is meant for students, who have completed their graduation and final is for students who have completed their intermediate course.

Career in Cost Accountancy:

Candidates who have completed their cost accountancy course from the Institute of Cost and Works Accountants of India, can get job opportunity not only in the position of Cost Accountant in Government Organization, but they can also find employment opportunities in the following other job titles as well:

• Chief Internal Auditor

• Cost Controller

• Chief Accountant

• Financial Controller

Thus, cost accountancy field offers wide range of employment opportunities to these professional in government organizations and they can get a very good pay scale as well.