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Cost ManagementCost management comprises all measures aimed at analysing a company’s expenditures and evaluating and planning methods for cost optimisation and cost reduction. It serves to achieve a company’s sustainable profitability and competitiveness as well as supplying liquidity in the short-term. Analysing a company’s costs requires the identification and presentation of underlying cost structures, causes and relations. Planning and controlling costs calls for a determination of the actual and anticipated future amount of costs. Variable, fixed, one-time, extraordinary and recurring costs have to be distinguished. |
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