Cost and Management Audit

Cost and Management Audit

OBJECTIVE To promote the knowledge of Cost and Management Accountancy to provide educational facilities for training of budding professionals for excelling in the field of management accounting. To promote the decision-making skills and administrative competence relevant to management accounting and corporate management in general.The Book aims to test the student's ability to: Focus on basic cost information, appropriately computed cost centre wise, system based cost data support for decision-making processes, Ensure uniformity and maintain cost records as per Generally Accepted Cost Accounting Principles, Tabulate the cost information and construct the system thus evolved for gainful operation and use in the strategy making for measuring productivity, profitability, etc. Prepare cost audit report in compliance with statutory obligations, Understand the usefulness of cost audit and interpret for stakeholders view, Discuss the concepts of management audit and demonstrate its usefulness, Evaluate the performance of an organization through cost accounting records and cost audit reports, Recommend desired course of action for optimal utilization of scarce resources.