Cost Accounting Test

Cost accounting is an accounting method in which recording, classifying, analyzing, summarizing, allocating, and evaluating various alternative courses of action for the control of costs takes place. It also aims to capture a company's cost of production by assessing the input costs of each step of production as well as fixed costs, such as depreciation of capital equipment. It assists management by providing analysis of cost behavior, cost-volume-profit relationships, operational and capital budgeting, and standard costing. Cost accountant assists management by providing analysis of cost behavior, cost-volume-profit relationships, operational and capital budgeting, standard costing, variance analyses of costs and revenues, transfer pricing, activity-based costing, and more. Cost accountant is a person who is responsible to maintain standard costing of each product which is used for various other material movements, variance preparation, and cost sheet.

The cost accounting knowledge test enables employers and recruiters to identify potential prospects by evaluating working skills and job readiness. For this reason, the emphasis is laid upon evaluating the knowledge of applied skills gained through real work experience, rather than theoretical knowledge. The cost accounting test is created and validated by experienced Subject Matter Experts (SME) to evaluate cost accounting skills of candidates as per industry standards. Cost accounting knowledge test helps recruiters and hiring managers to assess and hire cost accountant better and faster.