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Competitive advantages could a company obtain from cost accounting and cost management?
Wiki User
∙ 15y ago
Competitive advantages can be achives by the interprises in according two ways: one is when the company has a diferencial product ou service to offer to marketing and there aren´t competitor to same goods/services. Other is when the company is the best in what it do. The cost management ables the interprises in the both ways: mesuring the earns of diferencial value and mesuring the cost of eficience process.
Wiki User
∙ 15y ago
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Advantages of cost accounting?
Cost accounting is a wonderful tool for the management to measure how the company resources has been utilized. It is very useful for the end users also.
Advantages of company-wide overhead rates?
I am the management accounting lecturer, please say your names, or I will start further investigation of plagiarism.
Which tools of management accounting is useful to check the solvency of company?
decision accounting
What are the Disadvantages of management accounting function?
The management accounting function eliminates top management. With top management out of the decision process, the company may not be aware of many problems.
Define management accounting system?
The definition of management accounting system is a system that was designed for a company that provides the information that is necessary for the company to make projections and decisions. It provides accurate and current information.
How does management accounting facilitate the carrying out of management functions?
Management accounting gives the organization's management the tools to plan ahead. It allows the managers to figure out where the company is losing money, and how it can maximize productivity and profits.
What is the difference between What is the difference between financial accounting and management accounting?
Financial accounting is used to present the performance and financial statements to third parties while management accounting is used for company's internal working purpose.
Nature and scope of management accounting?
The scope of management accounting is to aide management of a particular company with enough information to take critical decisions. Nature of management accounting includes coverage of day to day expenses, research and development, and current market scenario.
How human resource management can be instrumental in helping a company to create competitive advantage?
If we want to proof human resource as an instrument for gaining competitive advantages in a company we should focus on two things, one is competitive advantage and another is human resource management process. We know if any side of a company is more efficient than other companies in between a same industry is called competitive advantage. Competitive advantage is something that means, to achieve the goals how my internal resources support me. Competitive advantage is related to internal resources of an organization. On the other side we know human resource is the most important and most effective resource for any organization. Human resource is something that has no alternative for achieving the organizational goals. By using this tool one organization can gain it's goals The preconditions for achieving competitive advantage are many but low cost and high productivity are the most important for gaining competitive advantages. If a company has a efficient work force or human resource that is technologically advanced and flexible it's may be possible for that company to gain more competitive advantages into the respective industry. By formulating and executing the work force of a company it can achieve its goals and it can also increase its productivity. More productive the company more advantages in the market. Productive company can fulfill the demand of a market. BY: CHARITY YATTS
What is the difference between financial accounting and cost and management accounting?
Financial accounting is the preparation of financial statements for decision makers. Cost accounting is collecting, analyzing, summarizing, and evaluating courses of action. Management accounting is simply used to better a company by reviewing the accounting information.
Who is primary user of management accounting information are?
Management and directors will use them to determine how well the company is doing and where to go from there.
Advantages of human resources accounting?
There are so many advantages of human resources accounting. The main advantages include evaluation of effectiveness, gives a true state of the company and sheds light on strengths and weaknesses among others.
