The Role of Cost Accountant is of Statutory and Advisory nature. Similar to CA and CS, Indian laws have given certain responsibilities to CMA also as Cost Auditor, Tax Auditor, Valuer, Management Accountant, GST accountant etc. Every company deploy CMAs/Cost Accountants in Costing department for maintenance of cost records and they also be deployed in financial analysis and budgeting. CMA services are also availed more in Tax and Financial management areas. Student can reach Director of Successedge– best CMA coaching centre in Bangalorefor more information on role of cost accountant.
Every manufacturing, mining, production and process companies need to maintain cost records as per relevant rules and the same also need to be audit by Cost auditor/Cost accountant who is a qualifying CMA. He/she can also practice in Taxation maters, company law maters, maintenance of books, financial planning and analysis, registration under various laws etc.
CMA practice is very niche compare to CA/CS. However, one can earn close to Rs 5 lakhs in the initial year and can reach up to 20 lakhs within 5 years.