THE IMPORTANCE OF COST MANAGEMENT IN JOINT STOCK COMPANIES
Abstract
Since the market is currently more cutthroat than ever, businesses that want to remain competitive must constantly enhance and tighten control over their operations. The modern corporation has several unique characteristics that set it apart from the traditional ones in order to achieve this development in the productive system, with the continual process of improvement, the elimination of waste, and the application of the complete quality philosophy standing out. Profits and corporate operations may suffer from a lack of a cost control system. Because of the significant roles that they play and the outcomes they produce, management and costs are always variables that stand out in businesses. The prominence of these regions is rising and becoming more crucial for the company's appropriate success. Therefore, in order to decrease the price of manufactured goods and increase the profit in joint-stock companies, the role of cost management is essential.
References
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