ABC,Balanced Scorecard, and Value Chain Analysis, are just a few popular examples among new trend in cost management/managerial accounting.
Regarding new trend and practice in managerial and cost accounting and cost management field, here is a three-part question for your thoughts and for our good class discussion:
- What is the value chain? Describe, in sequence, the main components of a manufacturer's value chain.
- Explain what is meant by %u201Cbalanced%u201D in the balanced scorecard approach.
- What is ABC, and what are its potential benefits.