COST ACCOUNTING
ACTIVITY BASED MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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important factor for operationalizing continuous improvement
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a system-wide approach that is integrated and focuses on management’s attention to various activities with the aim of increasing value
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main source of activity-based management information
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a method of identifying and evaluating costs based on information on the activities of a business or organization
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Detailed explanation-1: -Activity-based management (ABM) is a systemwide, integrated approach that focuses management’s attention on activities with the objectives of improving customer value and increasing the profit achieved by providing this value.
Detailed explanation-2: -Activity-based management (ABM) is a means of analyzing a company’s profitability by looking at each aspect of its business to determine strengths and weaknesses. ABM is used to help management find out which areas of the business are losing money so that they can be improved or cut altogether.
Detailed explanation-3: -Account based marketing (ABM) is a business marketing strategy that concentrates resources on a set of target accounts within a market. It uses personalized campaigns designed to engage each account, basing the marketing message on the specific attributes and needs of the account.
Detailed explanation-4: -Which of the following can be a reason for an activity-based management (ABM) system breakdown? Lack of support of higher-level management.
Detailed explanation-5: -an advanced control system that focuses management’s attention on activities with the objective of improving the value received by the customer and the profit received by providing this value.