P2 Costing Techniques
Study these flashcardsFree · spaced repetition · iPhone, Android, Mac & web
All cards
1
What is the difference between traditional costing and target costing?
2
What is a cost gap?
The difference between the current cost and the target cost
3
How can you close a cost gap
4
How do we NOT close a cost gap
5
What is functional analysis
Considers the functionality of the item and which functions are important or how to deliver more, cost effectively
6
What are the benefits of target costing
7
What is lifecycle costing
Considers the accumulation of costs and revenues over the lifetime of a product to assess its overall profitability
8
How do you maximise return over the product lifecycle
9
What are the lifecycle cost types
10
What is value analysis / Value engineering
11
What is the difference between value analysis and value engineering
12
What are the types of value
13
What is porters value chain
Porter suggested improving the different areas of the business would increase the margin
14
In porter value chain what are the primary activities
15
In porter value chain what are the secondary activities
16
In each of porters value chain areas how can they contribute to the competitve advantage of the business