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How can cost management system help companies determine the profits and costs?
Wiki User
∙ 16y ago
Determining Costs:
Use of Activity-Based costing in the management cycle where the main focus is managing activities rather than costs.
Value Chain and Supply Chain analysis in the activity management.
Identification of Value-Adding activities and eliminating Nonvalue-Adding activities.
Eventually, from the cost hierarchy (Unit level, Batch level, Product/Service level and Operations level) the bill of activities are computed; and then the product unit costs are calculated.
Wiki User
∙ 16y ago
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