cost management has a much broader focus than that found in traditional costing systems. it is not only concerned with how much something costs but also with the factors that drive costs, such as cycle time, quality, and process productivity. thus, cost management requires a deep understanding of a firm's cost structure. Managers must be able to determine the long-run and short-run costs of activities and processes as well as the costs of goods, services, customers, suppliers, and other object of interest. Cause of these costs are also carefully studied