STRATEGIC COST MANAGEMENT Definition

Bookmark and Share

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.

Learn new Accounting Terms

CAPITAL OUTLAY see CAPITAL EXPENDITURE.

RECHARGE, in accounting, normally involves an activity that provides a specific, ongoing and repetitive good or service to an entity or projects and recovers the cost of providing the good or service from the entity served on a fee basis. Operating costs are supported by recharges to the departments or specific activity receiving the service.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.