Benefits to Creditors and investors
Creditors can ascertain the solvency and investors, the financial strength of the concern based on Cost Accounting reports.
Cost Accounting adds to stability of the organisation, which adds to confidence of the creditors
Benefits to Government
Cost Accounting can help in assessment of excise duty, income tax. etc.
In case of essential commodities, cost records can help the government in wage fixation, sanction of quotes, ceiling on prices, etc.
Cost Accounting aids profitability, which results in greater revenues to the government.
Benefits to Society
Cost Accounting results in cost reduction, leading to lower prices to consumers
It helps in introducing new and improved processes of production and improved efficiency results in better supply.