MBAA-102 Accounting for Managers – Unit 8

MBAA-102 Accounting for Managers – Unit 8

Objectives: explain the concept of cost control and cost reduction; identify the need of cost control and cost reduction; enumerate the techniques of cost control and cost reduction; differentiate between cost control and cost reduction and explain the concept of cost management.

Materials:
The relevant material is available here.

Questions:

1. Define concept of cost control with its features and example.
2. What are different advantages and disadvantages of cost control?
3. Differentiate between cost control and cost reduction.
4. Explain different techniques used under cost control.
5. What are the different techniques of cost management? Explain.