cost control
Definition
Application of (1) investigative procedures to detect variance of actual costs from budgeted costs, (2) diagnostic procedures to ascertain the cause(s) of variance, and (3) corrective procedures to effect realignment between actual and budgeted costs.
cost control is in the Accounting & Auditing, Banking, Commerce & Finance and Entrepreneurship, Management, & Leadership subjects.
cost control appears in the definitions of the following terms: physical standard, standard costing, production engineering and work team
cost control appears in these other term: earned value cost control
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