Find out more about cost management and cost control with our selection of articles, links and guides to help you identify best practice, techniques and tools to apply to your business.
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Enterprise operations and performance management
Ian Herbert explains the lean approach to cost reduction and examines the potential benefits - and risks - for finance departments planning to adopt it.
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Introduction to management accounting
Horngren C.T. and others (Pearson Education, 2014, 857 pages)
Written to help those new to the subject learn how to make effective economic decisions. Includes sections on cost management systems and product costing.
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The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users.
Cost management and control in government: fighting the cost war through leadership driven management
The book uses numerous real life case studies to show how and why governments should implement cost management strategies. It includes chapters on talent management, leadership skills, cost control in business processes, and managing change in large organisations.
Hospitality management accounting
The book includes sections on financial statements for the hospitality industry, internal control, cost management, budgeting, cash management, capital budgeting and the investment decision. It covers management accounting from the perspective of the hospitality industry in the US.
Just-in-time accounting: how to decrease costs and increase efficiency
Proposes a method for increasing efficiency in an accounting system by re-organising the accounting controls. Includes chapters on how this can be applied to each aspect of the accounting process, with cost/benefit analyses fir each instance.
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Directors' Briefings and Start-Up Briefings are four-page guides written for the busy practitioner, director and entrepreneur providing concise, practical advice on core business issues.
Disclaimer: These publications from Atom Content Marketing are for general guidance only, for businesses in the United Kingdom governed by the laws of England. Atom Content Marketing, expert contributors and ICAEW (as distributor) disclaim all liability for any errors or omissions.
Another challenging year is in prospect for UK Continental Shelf
2015 has been challenging for stakeholders on the UK Continental Shelf (UKCS). Main issues discussed include the continuation of low oil prices, the decline in production efficiency over the last decade, major tax changes applicable to the UKCS, the importance of cost reductions to make many new field developments in the North Sea viable. Cost reductions have been pursued through 2015, and more can be expected in 2016.
London property rental rates for businesses are predicted to rise steadily during 2016 and 2017, whereas business profits are expected to remain static. What will give? Occupiers are expected to start chasing property cost savings through means such as back-office re-locations out of the capital, short-term serviced office space and encouraging home working.
Free up cash
Renita Wolf covers best practices to help your company manage working capital effectively. To increase profitability, reduce your cash conversion cycle. Cash flow management should be a cross-department organizational concern which the sales, procurement and operations teams are engaged with.
Small Business Update
Small Business Update is a monthly magazine for SMEs with articles covering the latest regulatory developments, practical advice and hot topics.
Getting your prices right is essential. If they're too high, you'll put off potential customers. Aim too low, and you'll throw away potential profit and risk making customers believe your products or services are inferior to higher-priced competitor goods.
Making a profit from selling products or services is vital in any successful business. After all, healthy margins drive growth and ensure that wages get paid. But what about the hidden profits in your business? Emma Allen looks at how you can uncover potential sources of cash.
The credit crunch and subsequent bank bail-out have left the UK Government with a £156 billion budget deficit. Falling sales during the economic downturn may have left your firm with its own excess of expenditure over revenue. Kate Horstead finds out how to get through a difficult trading period.
Faced with falling sales, reduced access to credit and squeezed margins, small-business owners are finding these challenging times. But those who keep a close eye on their costs are more likely to survive, as Kate Horstead explains.
Cost management: Control and profitability
A sample chapter from the Wiley publication Essentials of cost management by C. and J. Stenzel (Wiley, 2002)
Special report: Financial planning and cost management
This ICAEW Finance and Management Faculty June 2013 report on Financial Planning and Cost Management looks at these related subjects from several angles.
Articles and books in the Library collection
Click on the links below to see our catalogue record and holdings for each item. Please contact us if you would like to borrow a book or request a copy of an article.
Building a sustainable cost leadership culture
Strategic Finance, September 2014, pages 46-51
As management accountants evolved from "bean counters" into strategic business partners, their focus also evolved, shifting from cost accounting to cost management and ultimately, cost leadership. This involves a proactive attitude to striving for lower costs, improved customer focus, and enhanced market share. As cost leaders, management accountants can help their organisation compete and thrive in today's complex global economy.
CFO fundamentals: your guide to internal controls, financial reporting, IFRS, web 2.0, cloud computing and more
Shim, J.K. (John Wiley & Sons, 2012)
Part three, cost management and IT systems, contains the sections: cost management and analysis; cost-volume-profit analysis; short-term decisions; financial forecasting, planning and budgeting; risk management; capital budgeting and real options; the what and why of responsibility accounting; control of profit centres; performance of investment centres and transfer pricing; how to analyse and improve corporate profitability and shareholder value; and information technology and IT systems.
Management and cost accounting
Drury, C. (Cengage Learning EMEA, 2012)
The aim of the 8th ed. of this book is to explain the principles involved in designing and evaluating management and cost accounting information systems. Intended primarily for undergraduate students who are pursuing a one- or two-year management accounting course, and for students who are preparing for the cost and management accounting examinations of the professional accountancy bodies at an intermediate or advanced professional level.
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