Cost audit is the verification of the correctness of cost accounts and of the adherence to proper cost accounting procedures. Its purpose is to check that the various systems can be relied upon to operate in an integrated manner. Cost audit is of a recent origin. It is an effective tool of control for the management. It keeps a check [...]
In this essay we will discuss about:- 1. Meaning of Target Costing 2. Objective of Target Costing 3. Methodology 4. Steps 5. Implementation 6. Legends 7. Managerial Challenges. Essay on Target Costing Essay Contents: Essay on the Meaning and Objective of Target Costing Essay on the Target Costing Methodology Essay on the Steps in Target Costing Essay on the Implementing [...]
In this article we will discuss about the relevant cost information provided by activity based costing system for analytical approaches. The activity-based analytical approaches to a cost reduction programme include: (1) Activity mapping, (2) Value-chain analysis, and (3) Analysis of core/support/diversionary activities. The successful implementation of these approaches needs micro cost information. The traditional cost systems based on over simplistic [...]