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SO Question 1: Cost accountants might work for accounting or consulting firms, or they might work directly for corporations in the retail or manufacturing sectors.
SO Question 1: Cost accountants might work for accounting or consulting firms, or they might work directly for corporations in the retail or manufacturing sectors. While most cost accountants work in government organizations or large companies, some will work as consultants either through public accounting firms or their own independent practice. Private consultants will often be called upon to perform services for small or mid-sized businesses that cannot substantiate the full-time employment of a cost accountant. But regardless of work environment, accurate cost accounting enables a company to reduce financial waste and increase profit. Question: (7 + 4 + 4 - 15 Marks) a. Describe the role of the cost accountant in a manufacturing organization. (500 words) b. Explain whether you agree with each of the following statements with suitable example: i. All direct costs are variable'. (300 words) ii. 'Variable costs are controllable and fixed costs are not'. (300 words)
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