Cost Estimation and Profit Planning.docx - 1 Cost...

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Cost Estimation and Profit Planning
Student’s Name
Institutional Affliction
Professor
Course
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As a cost management process, available strategies that involve job costing systems and
process costing systems are efficient in protecting the productivity of business operations. Based
on the definitions of the costing processes, we get the real reasons why the process impacts
business operations. From the aspect that business operations are geared towards profitability
and success, reasons are established for how businesses have efficient operations. According to
Alami and ElMaraghy (2020), cost management is the best way operations can succeed in
operations as they will have strategic handling finances. We established that financial strengths
are the basic factors that organizations rely on for successful operations from or class readings.
First, in understanding the job costing system, the aspect it holds is accumulating
information on cost and financial processes in an organization. Therefore, the system holds