Archive | Cost Control

Cost Control: Meaning, Elements and Steps

In this article we will discuss about Cost Control:- 1. Meaning of Cost Control 2. Elements of a Cost Control Scheme 3. Techniques 4. Steps. Meaning of Cost Control: The basic objective of accounting is to provide information which is useful for persons inside the organisation (i.e., owners, management and employees) and for persons or […]

Top 10 Application of Cost Reduction Methods

The following points highlight the top ten applications of cost reduction methods. The applications are: 1. Product Design 2. Organisation 3. Factory Layout and Equipment 4. Production Plan, Programme and Methods 5. Administration 6. Marketing 7. Personnel Management 8. Material Control 9. Financial Management 10. Utility Services. Cost Reduction Methods: Application # 1. Product Design: […]

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