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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:
What are the duties of the Public Company Accounting Oversight Board?
Cause Company is planning to invest in a machine with a useful life of five years and no salvage value. The machine is expected to produce cash flow from operations of $20,000 in e
Define Activities based costing by horngren According to horngren " ABC is a system that focuses on activities as fundamental cost object and utilizes cost of these activi
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A bill is explained as an unconditional order in writing, addressed through one person to the other, signed through the person providing it, requiring the person to whom it is addr
1. In order to boost the housing market throughout 2009 and into 2010, the federal government offered a tax credit to first-time home buyers and some repeat buyers.
opening stock 19000 closing stock 21000 sales 200000 gross profit 25% on sales calculate stock turnover ratio
Advantages of incremental budgeting a) The budget is stable and change is gradual b) Managers can operate their departments on a steady basis c) The system is relatively
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