Industrial accounting: understand what it is and how to work in this field

When comparing with medicine, have you noticed that consultations with a general practitioner are usually cheaper than with a specialist? The same happens with accounting: although the market is full of accountants, those who are specialized charge more for their services. So, if you’re thinking about getting into industrial accounting, keep reading to better understand the challenges and possibilities of this field. Follow the following topics: What is industrial accounting? What is the difference between industrial and commercial accounting? Step by step to work in industrial accounting Ensure the best results for clients with Conta Azul Mais Good reading! Industrial accounting is related to the management of accounting, tax and financial processes in an industry; What is industrial accounting? Industrial accounting, or cost accounting, has an emphasis on the needs of industries.

Order to Comply with Accounting Tax Obligations

This area carefully analyzes all industrial processes, from purchase to delivery of production. Thus, industrial accounting deals with raw material, labor, production, energy, subsidiary goods, transport, packaging and marketing expenses. The focus is on facilitating the analysis of how much is spent on production, valuable information for calculating the  Austria Phone Number List resale price and defining the profit margin. There are two branches of industrial accounting. Are they: 1. Industrial cost accounting This branch of industrial accounting comprises activities related to the manufacture of products . To work in the area, it is necessary to understand specific concepts, such as: Direct Materials (DM): management of material costs for the manufacture of goods; Direct Labor (MOD): remuneration and charges for the team that is on the production line; Indirect Manufacturing Cost (CIF): investments that are not directly linked to products, such as energy, machinery depreciation, etc.

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When these costs are tracked industry managers

Have a more complete view of operations. The result is assertive decision-making that improves financial performance and chances of growth. 2. Service Cost Accounting Accounting for service costs, as the name implies. Considers the management of inputs necessary for the performance of services related to the industrial segment. To work here, it is also necessary to EL Leads understand some specific concepts, such as: Direct Materials (DM): same cost management as mentioned above, but here it is related to the materials needed to develop the service; Direct Labor (MOD): remuneration and charges of service providers; General Service Costs (GCS): are those that are not directly linked to the services, but to the operation of the company that must be accounted for in the value of the provision; Third-Party Services (ST): any costs to hire professionals or outsourced companies (to provide all or part of the service).

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