Cost accounting, or management accounting, is the pre-eminent tool for controlling costs and taking decisions. Its purpose is to calculate and determine the cost of goods or services along the production chain, stage by stage, so that the cost of the good or service is known at each point in its progress. It also assists in setting the selling price and in taking decisions or strategic choices about the future of the business.
Our assistance and support cover principally the following:
- Analysis of your production costs for goods or services, to confirm that they reflect the realities and the performance of your organisation
- Design and installation of your cost and management accounting system, taking account of rules of origin for materials or services so as to ease compliance with the AfCFTA
- Support in choosing the tools and in installing your cost accounting
- Ad hoc assistance on cost accounting or on strategic decision-making
- Analysis and calculation of costs and cost prices, and of each product’s or service’s contribution to the result
- Review and updating of your cost accounting to reflect the needs of internal or external growth
- Outsourced maintenance of your cost accounting
- Training
We should point out, however, that putting in place an effective and efficient system of cost and management accounting is a long undertaking.