Posted inBasics
Posted inBasics
Flexible Budget Vs. Fixed Budget
PointsFlexible BudgetFixed BudgetFlexibilityDue to its nature of flexibility, it may be quickly re-organized according to…
Posted inBasics
Types of Budgets
Budgets can be categorized in various ways. Let us go through the types of budgets…
Posted inBasics
Budget, Budgeting, and Budgetary Control
Let us go through the terms sequentially. Budget Budget represents the objectives of any organization…
Posted inBasics
Cost Accounting – Budgeting Analysis
We are all well-familiar with the term budget. Budgeting is a powerful tool that helps the…
Posted inBasics
Tools and Techniques of Cost Reduction
The following tools and techniques are used to reduce costs: ● Budgetary Control ● Standard Costing ● Simplification…
Posted inBasics
Material Control
Cost reduction program should be run by purchasing economical and more useful material. Economic Order…
Posted inBasics
Personal Management
Cost reduction programs can be run using staff welfare measures and improving labor relation. Introduction…
Posted inBasics
Financial Management
Attention should be given to the following areas: ● If there is any over-investment. ● How much…
Posted inBasics
Fields Covered under the Cost Reduction Program
A number of fields come under the scope of cost reduction. They are discussed below.…
Posted inBasics
Cost Reduction Program
Followings are the essentials of a cost reduction program: ● Cost reduction program should be according…