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How does management use quality cost information

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Question - The Need for Managerial Accounting - OVERVIEW: Research the history of the development of cost systems and the history of cost accounting. Note the changes that taken place in the last 50 years, such as rapid advances in technology and global competition, the change in attitude toward quality is introduced. Concepts related to continuous improvement, total quality management, just-in-time, theory of constraints, and process reengineering are explained by a wide variety of managers, who stress how these concepts are now embedded into their operations. What is the role of managerial accounting in organizations given increasing competition?

After researching the history of cost accounting, please discuss the following questions:

1. What is quality?

2. Why is it important for companies to be concerned with quality?

3. How does management use quality cost information?

4. What are some advantages of a JIT system?

5. Why has the role of management accounting expanded?

Reference no: EM133172206

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