Cost measurement
1. Cost Accounting
a. Cost of goods sold
b. Inventory valuation
2. Performance Evaluation & Analysis
a. Assessment of current strategy & plan
b. Integrated cost/operational performance measures e.g. cost variance, capacity measurement, process efficiency etc.
c. Profitability reporting
d. Process analysis
e. Learning & corrective actions
3. Planning & Decision Support
a. Fully absorbed and incremental costing
b. Adaptive operation and cost-based planning, budgeting and forecasting
c. Product process, channel and customer strategic adaptations e.g. make vs buy outsource etc.