ECONOMICS

Detailed explanation-1: -The Objectives of the ABM Strand Gain valuable skills expected of their field, such as basic accounting, financial management, and commerce. Exude confidence in the accomplishment of their projects and assignments in their ABM strand courses, which they can carry over once they dive into their future careers.

Detailed explanation-2: -3.1. The cost dimension provides cost information about resources, activities, and cost objects of interests such as products, customers, suppliers, and distribution channels. The objective of cost dimension is improving the accuracy of cost assignments.

Detailed explanation-3: -Activity-based costing provides a more accurate method of product/service costing, leading to more accurate pricing decisions. It increases understanding of overheads and cost drivers; and makes costly and non-value adding activities more visible, allowing managers to reduce or eliminate them.

Detailed explanation-4: -ABC is a methodology that can yield significant information about cost drivers, activities, resources and performance measures. However, ABM is a discipline that offers the organisation the opportunity to improve the value of its products and services.