cost calculation and cost audit

Why Cost Audit is Important

The price is equal to the cost plus profit. Cost affects the price and price affects consumers. A close look at cost and how it is ascertained in industrial production is referred to as a cost audit. Such audits help in controlling the cost of production, ensuring efficient usage of resources, and protecting consumers’ interests. It is in the vital interest of consumers that producers ensure proper implementation of cost auditing so that true costs can be ascertained for determining just prices. The article eleborates multiple economic and social benefits of cost audit and its features.

Human Resource Manager

Role of a Modern-day Human Resource Manager in Business

Human resource management is sometimes narrowly defined as planning, directing, and coordinating the administrative functions of an organization; however, modern-day human resource management expects HR Managers to think beyond administrative functions. The most difficult part of their job is to manage expectations and to serve as a bridge between management and employees.