Designing Cost Management Systems to Support Business Decision-Making

This book illustrates the importance effective cost management systems inproviding a supportive environment in which reliable and relevant managementinformation can be generated. Such a cost management system is only attainableif the importance of key business, operational and stakeholder requirements arerecognised within the organisational context. In illustrating this importance, thisbook provides several case studies as examples thereof. The first two case studiesfocus on the engineering sector and illustrates the development of a costmanagement system in a water recycling context; and the design of a budgetarysystem in a mining engineering context. The remaining case studies focus on theservices sector, including cost management systems for a digital technologyservices provider and a medical insurance services provider; an alternativeactivity-based costing approach for a public sector services provider; and finallya re-designed value stream for an automotive services provider. Academicresearchers and industry managers in the fields of management accounting andfinancial management, as well as engineering and operations management, willfind value in the experiences described herein.

Illustrates how a system's thinking mindset may provide for the better integration of cost management activities Presents a key aim of an effective cost management system Provides academic researchers and industry managers in the fields of management accounting and financial management

Autorentext

Pieter Buys is Research Director: Management Cybernetics Research Entity and

Professor of Accounting Sciences at the North-West University, South Africa. He

holds a Ph.D. in management accounting and is Certified Management Accountant

(CMA). His research focuses on management accounting and business process

re-engineering. Previously, he occupied management positions in Canada and

South Africa.

Klappentext

This book illustrates the importance effective cost management systems in providing a supportive environment in which reliable and relevant management information can be generated. Such a cost management system is only attainable if the importance of key business, operational and stakeholder requirements are recognised within the organisational context. In illustrating this importance, this book provides several case studies as examples thereof. The first two case studies focus on the engineering sector and illustrates the development of a cost management system in a water recycling context; and the design of a budgetary system in a mining engineering context. The remaining case studies focus on the services sector, including cost management systems for a digital technology services provider and a medical insurance services provider; an alternativeactivity-based costing approach for a public sector services provider; and finally a re-designed value stream for an automotive services provider. Academic researchers and industry managers in the fields of management accounting and financial management, as well as engineering and operations management, will find value in the experiences described herein.

Inhalt
Introduction.- Designing a budgetary control framework for a multinational company using Industry 4.0 technologies.- Activity based costing as an alternative to the current costing methods in SASSA.- Development of an operational costing framework: The case of a water recycling fabrication facility.- Improving an automotive workshop's profitability using lean management principles.- Developing a costing system for a digital technology service firm.- Designing a cost management framework for a medical scheme service provider in South Africa.- Concluding discussion.