Benelits to Workers

Cost Accounting helps in evaluation of standard of efficiency of workers and helps in objective merit rating.

Cost Accounting can help construction and implementation of incentive schemes that can reward efficient worken and encourage average workers to increase their efficiency

Cost Accounting Basics – Benefits to Management

Cost Accounting avoids wastage, increases profits and a part thereof is likely to be shared by the workers

Cost Accounting makes an organisation efficient, and fit to withstand competition

The stability of the organisation provides security of employment to the business