Open AccessIdentifying Best Practices in Cost Management
Author(s) -
Giampiero Favato,
Roger Mills
Publication year - 2007
Publication title -
henley manager update
Language(s) - English
Resource type - Journals
ISSN - 1745-7866
DOI - 10.1177/174578660701800405
Subject(s) - activity based costing , cost engineering , cost accounting , product cost management , best practice , risk analysis (engineering) , target costing , business , operations management , engineering , management , economics , marketing , accounting
Cost management practices have been under substantial criticism for their lack of efficiency and capacity for coping with a rapidly evolving environment. Cost management applications generally fit into three major categories: diagnostic, re-engineering, or integrated cost management systems. Which of these costing systems should be regarded as the current best practices in cost management?
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