Strategic cost management can be defined as the use of cost information to help formulate and communicate strategies. Strategic cost management combines three elements:

1. Value chain analysis – It is for any business a linked set of value creating activities all the way from basic raw material source to the ultimate and used product delivered [...]

If you are doing business then there are two things which you look at more closely they are revenues and costs. While revenues refers to the income generated by the business through sales and costs refers to the expenses made by the company while doing business, cost can take various forms here are some of [...]

Cost-Volume-Profit Analysis (CVP) is a simplified model, useful for elementary instruction and for short-run decisions. A vital element of CVP analysis is the point where total revenues equal total costs (both fixed and variable costs). At this breakeven point (BEP), a company will experience no income or loss.

Under cost volume profit analysis profit is computed [...]