Perform cost accounting activities

Execute the cost related activities and operations within the accounting activities such as standard cost development, average pricing analysis, margin and cost ratio analysis, inventory control, and variance analysis. Report the results to management and advise on possible courses of action to control and reduce the costs.

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perform activities for cost accounting
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perform cost accounting activity
do cost accounting activities

skill/competence

cross-sector

Perform cost accounting activities is an essential skill of the following occupations:

Quantity surveyor: Quantity surveyors have under their helm complete management of the cost involved in building and construction projects from the inception of the project until the delivery. They strive for an efficient use of the resources whilst keeping an eye on quality, quality standards, and client’s requirements.
Warehouse manager: Warehouse managers assume the responsibility for storage facilities. They manage the operations and the staff within.
Logistics and distribution manager: Logistics and distribution managers take decisions on logistic services, operations and provisions. They take internal and external variables into consideration for effective and successful organisational logistic services. They give appropriate support to all the activities of the supply chain from the beginning to the end. These professionals organise the storage and distribution of goods and ensure that the right products are delivered to the right location on time and at a good cost.
Cost analyst: Cost analysts prepare regular costs, budgeting analyses and reports in order to contribute to the overall cost planning and forecasting activities of a business. They review and reconcile key balance sheets and identify new opportunities to save costs.

Perform cost accounting activities is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Accounting manager: Accounting managers assume responsibility for all accounting activities relating to financial reporting. They develop and maintain accounting principles and procedures to ensure timely and accurate financial statements issued, supervise accounting staff and manage the accounting activities within the appropriate time frame and budget.
Manufacturing cost estimator: Manufacturing cost estimators collect and analyse data to evaluate the money, materials, labour and time required for manufacturing processes. They conduct analyses to identify (alternative) cost effective technical designs and production processes. They develop and use methods and tools for cost planning, controlling and analysis. They also perform quantitative and qualitative risk analyses and report on the development of costs.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Management assistant: Management assistants perform varied types of jobs, usually under general supervision. They carry out administrative tasks and support managers to ensure the entire department functions smoothly.
Accounting assistant: Accounting assistants record and report ticketing accounting situations to the accountant they work with, verify deposits and prepare daily reports and income. They arrange authorised refund vouchers, maintain the returned check accounts and communicate with ticketing managers concerning any ticketing systems issues.
Accountant:
Accountants review and analyse financial statements, budgets, financial reports, and business plans in order to check for irregularities resulting from error or fraud, and provide their clients with financial advice in matters such as financial forecasting and risk analysis. They may audit financial data, resolve insolvency cases, prepare tax returns and provide other tax-related advice in reference to current legislation.

References

1. Perform cost accounting activities – ESCO