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Steps in Strategic Cost Analysis1) Recognize the suitable value chain and allocate costs and assets to it. 2) Identify the cost drivers of each value activity and how they interrelate 3) Recognize competitor value chains, and establish the relative cost of competitors and sources of cost differences. 4) Build up a strategy to lower relative cost position via controlling cost drivers or reconfiguring the value chain and/or downstream value. 5) Make sure that cost reduction efforts do not erode differentiation, or made a conscious choice to do so. 6) Test the cost decrease strategy for sustainability. 7) The three major elements of strategic cost management comprise:
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Budgetary control According to CIMA the establishment of budgets relating the responsibilities of executive to the requirement of a policy and the continuous comparison of achi
Cases studies on a orgizations used ABC
A managerial accounting strategy focusing mainly on maintaining efficient levels of both components of working capital that is current assets and current liabilities, with respect
Q. What is Pricing under decline stage? Pricing under decline stage: under this stage sales are at their highest point. He should reduce the price if necessary taking the compe
Characteristics of irrelevant costs
Replacement cost It is the cost of replacing a material or asset, by purchase from the current market. If an X material was originally purchased @ Rs. 250 per Kg. And know i
X's Strategy X will like to divide his play between his rows in such a way that his expected winnings or losses when Y plays the first column will be equal to his expected winn
Cost driver analysis Cost drivers are factors, which determine the costs of an activity i.e. a change in the cost driver will cause a change in the level of total cost relate
Problem 1 Management accounting is sensitive to management needs; however, it assists the management and does not replace it. Write down in detail the scope of management accou
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