Cost and Managerial Accounting
Managerial Accounting provides appropriate information for decision making, planning, cost control, and performance evaluation of business entities’ operations.
Financial Accounting provides a total picture of the financial transactions of any organization whereas cost and managerial accounting provide a detailed analysis of itemized costing which provides guidance to make decisions. Cost of Goods Sold (COGS) constitute more than 70% of the Financial Statements and decisions for cost reduction or profitability enhancement can only be made if the COGS portion is analyzed critically
Managerial Accounting is a provision of appropriate information for decision making, planning, cost control and performance evaluation of business entities operations. Whereas costs accounting deals with calculation and assessment of the costs and expenses. Also, it calculates the Unit cost with different costing accounting techniques. Additionally, knowing the unit cost of different products and services provided by organizations is very vital for management.
Government and Regulatory Authorities are also responsible for the products available to the consumers at fair prices. The government established different regulatory authorities, including Drugs Regulatory Authority, Oil and Gas Regulatory Authority, National Electric Power Regulatory Authority, and many others.
Javaid & Co role in Cost & Managerial Accounting
Our goals are to serve about the organization broadly through the internal specification of managerial accounting in support of planning, controlling and directing, key production components like direct material, direct labor and factory overhead that they enable the good economic decision making. Also, Vintage International Consultants develops Costing Systems, Costing Principles, and Cost Control Procedures.
Moreover, after Studying the manufacturing Process, we suggest Costing System to our clients as per their requirements. Not only this but we also provide consultancy about cost-cutting techniques and analyze the current Costing System, highlights the weak areas and suggests actions to improve the system. Therefore, Javaid & Co is a well-reputed organization in providing managerial accounting in Pakistan and cost accounting in Pakistan.
We assist our valuable clients in the following areas:
- We develop costing systems and cost control procedures. After studying Manufacturing Process.
- We suggest our clients which costing system suits their requirements
- Provides consultancy about cost cutting techniques. We analyze the current costing
- System, highlight the weak areas and suggest actions to improve the systems
- Following are some of the area, Where we can assist our clients:
- Costing Systems
- Process Costing
- Job-Order Costing
- Activity Based Costing
- Budgeting & Planning
- Variance Analysis
- Cost of Production Reports
- Product Cost Analysis
- Cost Segregation and Allocation
- Cost, Profit, Volume Analysis
- Risk Analysis
- Work, time and motion study and analysis
- Computerization of the Costing System