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Difficulties in cost reduction
1) Resistance by employees to pressure to reduce cost usually because the nature and purpose of the campaign has not been properly explained to them and they feel threatened by the change
2) They may be confined to a small area the business 9e.g to one department) with the result that cost are reduced in one cost centre only to reappear as an extra cost in another cost centre;
3) Efforts to cut material and labor cost may erode confidence in established system for estimating material usage and labor productivity standards;
4) Cost reduction campaigns are often introduced as a rushed desperate measure instead of a carefully organized exercise.
Ordering Costs These are incurred in getting purchased items into the company’s inventory or stores, and usually consist of clerical costs of: • Making the purchase demand.
Cases studies on a orgizations used ABC
Explain TWO limitations of using accounting ratios to assess the performance of a firm and suggest how each limitation may be improved
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Application of Information technology in respect of management information system
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Risk : Risk includes circumstances or events that may or may not take place though whose probability of occurrence can be predicted from the past records. In this atmosphere, t
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