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Traditionally, cost management has revolved around estimating, planning, and controlling the costs in a business project. However, with the increasing importance of strategic issues, the scope of cost management has widened to include monitoring and controlling performance and suggesting structural changes for the business's growth. The CA Final Strategic Cost Management and Performance Evaluation paper by CA Raj K Agrawal aims to analyze and evaluate issues concerning the management, apply cost management techniques to set, and monitor strategic objectives. The paper is divided into two broad parts. The first part is Strategic Cost Management and Decision Making. It covers various aspects of traditional and strategic cost management, modern business environment, and the transition from a seller's to a buyer's market, supply chain management, cost management techniques, etc. It also includes cost management for specific sectors like IT, power, and the agricultural sector.
The second part is Performance Evaluation and Control. It helps students develop analysis, synthesis, and evaluation skills to address challenges that affect the management of performance within organizations. This part covers topics like preparation of performance reports, behavioral consequences arising from divisional structures, behavioral aspects of budgeting and budgetary control, etc. Overall, the CA Final Strategic Cost Management and Performance Evaluation paper will help the student better advise the management for the organization's long-term sustainability.
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