#CPT Classes in Pune CPT Classes in Maharashtra

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Cost Accountant

A Cost Accountant is allowed to do a special audit under the Customs Act.

Where the specialized knowledge of the professional would be very much crucial in performing the function, we find that they are performed only by the relevant professionals.

Start Early

Clearing your 10+2 is the basic criteria for making a move towards this particular career path. At this level, you can join the foundation level course. However, you can also get admission to the Interlevel of the course if you have earned your graduate degree or any other equivalent or higher academic qualification.

Role of a Cost Accountant

A Cost Accountant being multidisciplinary professional renders services in the following areas:

Employment

Chartered Accountants, on account of their having completed the chartered accountancy course, are considered to be candidates with the knowledge, ability, and intelligence. For this reason, they are the preferred lot for a lot of accounting and managerial jobs.

Financial Manager, Finance Director, Financial Controller, Chief Accountant, Cost Controller, Marketing Manager, Chief Internal Auditor, Managing Director etc., are some such jobs where people with professional accounting knowledge are sought after.

With the growing trend of back-office operations, many multinational organizations having their back offices in India employ professional accountants.

Private Practice

A qualified professional can set up his/her own private practice as a practicing cost accountant. Apart from the statutory opportunities that would be available to a cost accountant, one can play the role of a consultant for any organization relating to the functions of accounting, taxation, auditing, cost management etc.

However, a cost accountant as a consultant would be preferred in areas of costing and management accounting rather than taxation, financial accounting, and auditing functions.

Statutory Opportunities

The law places certain conditions on the performance of certain functions. Where the law requires that a particular function is performed only by a certain professional, it should be so. Such functions are what we call statutory functions.

1. Under Sec 209(i)(d) of the Companies Act 1956 there are over 40 select industries where maintenance of cost accounting records is statutory. Under Sec 233 – B these records are to be got audited by a qualified cost accountant.

2. A Cost Accountant is eligible for certification of Import/Export document under Export-Import (EXIM) policy.

3. A Cost Accountant is eligible for Excise Audit under Sec 14 A and Special Audit regarding CENVAT credit availed under Sec 14AA of the Central Excise Act.

4. A Cost Accountant is allowed to do a special audit under the Customs Act.

Where the specialized knowledge of the professional would be very much crucial in performing the function, we find that they are performed only by the relevant professionals.

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Common Habits of the Topper Students

People who top professional exams like CA, CS, CMA always have plans and strategies. They also armor themselves with certain

common habits and traits which give them an edge over others.

It’s important to clarify that this present generation of ours is extremely hard working and sincere with our studies and career.

So “beta, you haven’t worked hard enough/ you weren’t sincere enough” will not work. This generation is pretty sagacious as

far as studies are concerned.

Here I am compiling certain common habits toppers have:

To do list: First thing they do in the morning

The first thing they do in the morning has prepared a list of stuff they need to get done in the day. Chapters, page numbers, sections everything is planned for the day

Subject strategy: Mostly, students take up one subject at a time, finish it and get going. Many of them happen to compile it as ‘1 theory 1 practical’ in order to break the monotony of a single subject.

Mostly, students take up one subject at a time, finish it and get going. Many of them happen to compile it as ‘1 theory 1 practical’ in order to break the monotony of a single subject.

Focus on numerical papers:

Usually, toppers score a mammoth in the practical papers.

Usually, toppers score a mammoth in the practical papers.

Revision/mock test papers:

At least 2 mock test papers they do solve, you don’t have to go to the institute to give the test. You can simply ‘self-help’.

At least 2 mock test papers they do solve, you don’t have to go to the institute to give the test. You can simply ‘self-help’.

No too much study:

Most of the toppers I’ve noticed don’t study for 15 hours or so. They have a dedicated routine which they follow. They don’t focus on the hours they would study rather for them completing today’s “to do list” matters the most.

Give yourself the much-needed breaks:

Science proved it! At least once a week bangs a few games of FIFA, have a debate on why Suarez bit Chiellini, catch a movie or simply sleep for the whole day. Your choice! But no study. I REPEAT no study that day.

Is rank necessary? No. Is this the only way you can get a rank? No.

Is it bad if I take more than 1 attempt to clear my exams? Not at all. Make sure you just don’t become a CA but an ’employable CA’. For companies that matter way more. Building your overall personality is way more important than getting a rank in the exams. Because that’s what matters in the long run.

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