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Cost Accounting

Welink Accountants

Welink Accountants

What is cost accounting?

Cost accounting is the assessment of a company’s costs involved in the production of its products and/or services. It is also a comprehensive analysis of these costs in order to determine profitability and the subsequent performance of the company. Cost accounting allows a company to have a view of its results as a function of the costs it deployed and represents a crucial step in the overall decision-making process in which the company is involved. 

What are the two main types of costs in cost accounting?

Two main types of costs go into the general cost accounting process. Fixed costs, such as rent or lease expenses, and variable costs, which are directly dependent on the company’s production efforts and therefore inclined to change regularly.

Cost accounting procedures

In order to make smart and informed decisions, a company needs to favour its cost accounting procedures as these procedures contribute greatly to its long-term profitability and success. As opposed to externally motivated financial procedures, cost accounting is more internally directed and can as a result be more flexible as it strives to meet the needs of the company’s own management rather than the needs of government regulations or investors. 


Where can I find an accountant who specialises in cost accounting?


Welink Accountants allows businesses to find accountants with expertise in cost accounting. You can find an accountant who is experienced in working with different sized companies in various industries. To save yourself and your employees long hours of hard work and to focus on your productivity, Welink Accountants offers you a choice of knowledgeable advisors to ensure your company’s profitability.


HM Finance Coaching Ltd 


HM Finance Coaching Ltd is an accounting firm located in Loanhead Scotland and is headed by Helen Monaghan, an accountant with over 20 years of experience in the industry. This firm provides a broad range of comprehensive financial management services ranging from business advisory, annual accounting, cost accounting, VAT and Corporation Tax returns to a more hands-on approach of finance coaching, budgets, management accounts, KPI reporting, and forecasts. 


These professionals will provide you with high-quality services to fulfill your taxation needs so you can focus on growing your business. At HM Finance Coaching Ltd, prices start from £149+VAT per month. 


UK Payrolls


UK Payrolls is an accounting firm owned by John Jelf and is based in Gloucester UK. John has many years of experience in the fields of accounting, bookkeeping, payroll processing, auto-enrollment, company incorporation, and company compliance.


UK Payrolls works with individuals and companies of various sizes and from various industries. The firm can help with financial advice in mentoring startups to building strong financial foundations.  


Tidal Accounting


Tidal accounting is an accounting firm based in Leeds and run by Chris Hopwood. The firm’s services range from annual accounting, compliance, and tax planning to a more hands-on approach of business advice, management accounts, and cloud software advice to help improve business efficiencies. 


This company offers personalised services to each of its clients to ensure success by meeting clients’ expectations and needs. Tidal Accounting offers cost-effective yet bespoke solutions to help as many businesses as possible. 


Accountants (DR) Ltd


Accountants (DR) Ltd is an accounting and bookkeeping firm based in Erith UK and is run by Ms Irina Dorina Roman. This firm is customer-focused and strives to provide high-quality, comprehensive services to its clients to help them focus on their business goals with a team of highly qualified and experienced experts.


The company works with a variety of different businesses and industries, specialising in construction and transport, and provides clear financial guidance to all. The firm works proactively to ensure client success. 

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