Considering the changes in economic environment, it has become necessary for Ordnance Factories to work competitively. For utilization of installed capacity, Ordnance Factories need to obtain orders from civil and export market and to be competitive in the civil as well as export market, they need to improve their performance by reducing cost. To achieve the objective of cost control and cost minimization ordnance factories should know the overall cost and its various elements and for this ordnance Factories are required to follow accepted costing and accounting standards. On the initiative taken by HQ office, Commercial Accounting in Ordnance factories has been introduced and this is expected to improve fiscal discipline, cost awareness at factory level, and it would facilitate detailed cost analysis.
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