Cost control can be described as

  • How do you describe cost control?

    Cost control is the process of identifying, eliminating or reducing unnecessary business expenses in order to increase profits..

  • Is cost control a strategy?

    “Cost control is clearly an effective strategy for growth and is now arguably essential in a company's growth strategy,” believes our Finance Head, Nagesh Shet..

What are the objectives of cost control?

Objectives of cost control The main objectives of cost control are:

  • 1.
    To arrive at the cost of each stage, operation, or unit, and to carry out a continuous comparison with the target cost to get feedback of the gain or loss on each, so as to ensure that planned profit margins are maintained. 2.
    To provide immediate warning of the uneconomic operations, both in the long and short term.

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