The paper will first define the con

The paper will first define the concept of cost accounting and the three objectives that cost accounting deals with for managers. Afterward, it will explain the concept of globalization and tie the two ideas together. The paper will then explain problems with traditional cost systems, but then detail more effective tools from a cost management system. The paper concludes with three case studies that depict a company’s success through the use of a cost management system. This paper seek to explain that the utilization of an efficient cost management system will allow a company to make an impact globally.