INDUSTRY REQUIREMENTS

The success of any organization depends upon its effectiveness and efficiency in using its scarce resources such as Man, Machine, Money and Materials for optimal performance. To achieve this basic objective, availability of right information at the right moment is an essential and foremost requirement. Cost information is definitely different from data and this distinction is very important. Data are facts and figures which cannot be used as such, in a decision making process. By contrast, information consists of classified and interpreted data that can be used for decision making. Cost Information System can be defined as a formalized set of activities for collecting, processing, storing and reporting data in a manner useful to management.

COSTING FEATURES

» Allocation of cost inputs
» Appointment of operational common overheads
» Treatment of waste generated
» Resource Valuation

COSTING CAPABILITIES

» Industry specific definitions
» Baseline definitions for each enterprise
» Cost parameters setup
» Process definitions and routing
» Cost elements setup
» Operational parameters reporting
» Control on process Fields, Wastage, Productivity etc.,
» Cost Ledger
» Resource utilization statements
» Cost statements
» Generally Accepted Cost Accounting Principles
» Industry specific Cost Accounting Policies & Procedures
» MIS and Analysis
» Budgetary control systeM