Easy Way of Cost Accounting for MSMEs

Abstract

Today MSME sector has to compete with large-scale sector units that have an edge over the former with regard to brand image, quality control, size transaction volume, strong selling and distribution network, professional skill, full-fledged cost accounting department, advanced ERP/SAP systems, etc. In such circumstances, a proper cost accounting system can be very useful for MSMEs for survival. This article provides an in-site of easy way of cost accounting for MSMEs at minimum cost. Integrating cost accounting with financial accounting with the help of cost codes, can yield maximum results without incurring much cost. CMA.