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Fredy Makram Labib's image
Question added by Fredy Makram Labib R&D manager Universal for home appliances
10 years ago

In Euro some organizations began to make a separate department called "cost saving" What is the difference between cost management and cost saving?‎

In Euro some organizations began to make a separate department called "cost saving" What is the difference between cost management and cost saving?‎

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Tushar kulkarni's image
Question added by Tushar kulkarni Head Of Purchase SHANDONG BINANI RONGAN CEMENT CO. LTD
10 years ago
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Question added by wilson wisdom Sale Executive GNLD
7 years ago
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Mohammad Tohamy Hussein Hussein's image  
Answer added by  Mohammad Tohamy Hussein Hussein, Chief Executive Officer & ERP Architect, Egyptian Software Group
10 years ago

Cost management is managing costs to maintin them within the standard cost model of the business. Cost saving is reducing costs below the standard cost level.

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Answer added by  Lesley Anne Tampoc , Teaching and Learning Assistant, Brighton College Al Ain
10 years ago

Cost management is the process of planning and controlling the budget of a business. Cost management is a form of management accounting that allows a business to predict ... See More

Muhammad Latif Khirani's image  
Answer added by  Muhammad Latif Khirani, Financial Consultant, Bifringence (International Consulting Firm)
10 years ago

  Cost management:    Cost management is like wringing out a wet towel. The biggest reaction is obtained first, but we must keep wringing. Even when the towel appears dr ... See More