ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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STRATEGIC COST MANAGEMENT Definition
STRATEGIC COST MANAGEMENT is the overall recognition of the cost relationships among the activities in the value chain, and the process of managing those cost relationships to a firm's advantage. Also known as Cost Management Theory.
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CURRENT ACCOUNT in a national economy it is a category in the balance of payments account that includes all transactions that either contribute to national income or involve the spending of national income.
FINANCIAL MANAGEMENT is the process of managing financial resources, including management decisions concerning accounting and financial reporting, forecasting, and budgeting.