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Course Reflection - Discussion Final

The document discusses how the knowledge gained from taking cost accounting courses will help the author in their career as a manager. Specifically, it discusses three key points: 1) Cost accounting provides guidance on running an organization efficiently and making profitable decisions by understanding costs. 2) As a manager, cost accounting knowledge will help calculate costs in each department to make successful deals and ultimately increase profits. 3) Modern cost accounting systems provide daily financial assessments without tax worries and guidelines to reduce costs and improve profitability.

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Katrine Claudia
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36 views

Course Reflection - Discussion Final

The document discusses how the knowledge gained from taking cost accounting courses will help the author in their career as a manager. Specifically, it discusses three key points: 1) Cost accounting provides guidance on running an organization efficiently and making profitable decisions by understanding costs. 2) As a manager, cost accounting knowledge will help calculate costs in each department to make successful deals and ultimately increase profits. 3) Modern cost accounting systems provide daily financial assessments without tax worries and guidelines to reduce costs and improve profitability.

Uploaded by

Katrine Claudia
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Running head: COURSE REFLECTION

Course Reflection Name Institution Date

COURSE REFLECTION
2

As discussed on the re!ious classes" the rocess of collecting" anal#$ing and e!aluating different other courses in cost accounting hel s in achie!ing the goals in ad!ising the administration on the running of the organi$ation% Cost accounting gi!es a suita&le course of action on the grounds of ca a&ilit# and efficienc#% To run a &usiness" one is re'uired to ha!e !ast res onsi&ilit# as far as finance is concerned% As a manager" the (no)ledge I ha!e ac'uired )ill hel me in calculating the logistics in e!er# de artment and the cost of e!er# item so to ma(e a successful deal% *# )or( is to get in!ol!ed in e!er# as ect of the com an#+s finance% The (no)ledge I ha!e in cost accounting gi!es me the ultimate goal of rofit ma(ing through the eradication of unnecessar# costs% Since cost accounting falls under the management accounting" the ne) s#stem de!elo ed gi!es me the chance to assess dail# finances )ith no )orr# on the ta, factors% The ne) s#stem also ro!ides the guidelines on ho) to reduce costs for the &etter art of the com an#+s rofita&ilit# -.han et al%" /0001% Cost accounting is the &est tool to measure the com an#+s use of resources% It gi!es more &enefits to em lo#ees" management" go!ernment" creditors and the u&lic at large% Cost accounting hel s in disclosing dormant and acti!e de artments and further categori$ing those acti!ities" territories or roducts that rofits or ta(e the com an# at a loss% It is also through cost accounting that control of su lies and material is done% Such measures hel reduce the

em&e$$lement or misa ro riations of com an# materials -Drur#" /0021% Correct !aluation is a &asic role la#ed &# cost accounting concerning the finished and the roducts on rocess% Cost accounting also )or(s on controlling the la&or force thus ena&ling

COURSE REFLECTION
3

the com an# management com are the cost of la&or er o eration )ith the earlier determined cost therefore 'uantif#ing the efficienc# of the )or(force%

COURSE REFLECTION
4

Reference Drur#" C% -/0021% Management and cost accounting% London: Thomson Learning .han" *% 3%" 4 5ain" 6% .% -/0001% Cost accounting% Ne) Delhi: Tata *c7ra)89ill 6u&% Co% Ltd%

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