About Cost Accounting and Financial Management

The syllabus has two core parts. Cost Accounting deals with understanding the basic concepts and application of cost accounting principles to determine the cost of the product and understanding of various elements of cost, including the mechanism of Cost control and cost reduction in an organization.The second part, financial management deals with managing the finance of an organization for creating wealth by taking into consideration the risk involved in the business. The study of both subjects are very crucial for guiding the management in decision making in the efficient running of the organization.

The study of this paper helps in taking wise budgeting decisions and advising the best capital structure for the organization.Knowledge of Cost and Financial Management helps Chartered Accountants in assisting the Board, taking management decisions, Investment decisions, formulation of cost planning, and setting an efficient cost control mechanism.Thus, the study of Cost and Financial Management for CA IPCC is considered important to thrive in the industry sector.