RFP Definition

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RFP is Request for Proposal.

Learn new Accounting Terms

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.

VALUE ADDED is the difference, at each stage of production or the provisioning of a service, between the price of a product or service and all materials or activities paid for to produce the product or provide the service.

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