ACC445-0701A-01 Cost Accounting Cara Estes Phase 1, Task 1 - Discussion Board Due: 12/07/07 Definition of an integrated cost management system Cost management is a broad term that’s used to describe the different approaches and methods that managers use to make decisions regarding value vs. cost for the company. It is not merely how to reduce cost, but is more about how to plan, control costs, and achieve the company’s goals. It is an integral part of general management and is closely associated with Customer Service, I have been asked to develop a cost management system for Sun Shine Orange Grove (SSOG) . Having an established cost management system is a vital factor in a company’s long-term success and profitability. Therefore, I will discuss with you the scopes and goals of an integrated CMS, and how they will affect SSOG . Goals and Elements of an integrated cost management system
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