In order to remain competitive, companies face the demanding challenge of combining high product or service quality with an effective service provision and cost structure.
Cost accounting is critical in this respect. It is used to prepare and account for the costs of the work undertaken within the company. The principal aim of modern cost accounting is to provide the management with a basis on which it can make its decisions.
Controlling is also important in ensuring an optimum course of business. Controlling is a management tool that examines the company’s potential future developments.
Preparation of a business plan and finance plans are critical for a comprehensive controlling system.
Even the smallest company requires certain key targets, such as sales, costs, liquidity guarantee, customer numbers. Even small service providers need to ask themselves which of their services are most profitable and which orders have simply generated costs.
