Factors due to changing business landscape
What are the various factors which occurred due to the changing business landscape?
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The various factors which occurred due to the changing business landscape are as follows:
a) Growth of the service sector.
b) Emergence of new industries.
c) Growth of e-commerce.
d) Automated manufacturing.
e) Lean manufacturing.
f) Bigger product innovation.
g) Quick response times.
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Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
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Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
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Investor Relations: A department, exist in most medium to big public companies, which gives investors with a precise account of the company's affairs. This aids investors to make informed sell or buy decisions. Inv
Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.
Cost Allocation: This is a technique of assigning costs to activities, outputs, or other cost objects. The allocation base employed to assign a cost to objects is not essentially the cause of the cost. For illustration, assigning the
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