
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Under operations analysis, how do you describe cost analysis?
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Step 1
Operations analysis is the process of examining a business or organisation's internal workings in order to identify inefficiencies and improve overall performance.
Cost analysis is a specific type of operations analysis that focuses on identifying ways to reduce costs and improve efficiency. Cost analysis involves examining all aspects of a company's operations, from its raw materials and labor costs to its overhead and marketing expenses. By understanding where a company's money is being spent, it is possible to make changes that will lead to significant cost savings.
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