Cost Information – an Objective Necessity in Optimizing Decision Making

An overall growth can be registered at macro and micro level without achieving a development and this only under conditions of continuous improvement methods and techniques of organization and management within the unit. Cost and cost information play an important role being considered and recognized as useful and effective tools to reach any leader. They have features such as multiple facets to facilitate continuous improvement towards business unit. Cost awareness represents a decisive factor in decision – making or in planning further activities. The analysis and registration of data regarding past activities costs are only a facet of cost accountancy. Managers are also concerned with the future of costs, their level lying on supply and production decisions, as well as on some price policy.