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Date: 2019-07-17 Page is: DBtxt001.php list0300-Cost-analysis-cost-efficiency-1

Definitions for TrueValueMetrics
Cost analysis and cost efficiency

Cost analysis and cost efficiency. Cost accounting is a subset of accounting that informs about how much it has cost to do something. This is not difficult to do when there are trained staff and there is a good accounting system. It is painfully tedious and difficult when the record keeping is simplistic and critical data not available. This is a reflection of management competence and priorities.

Efficiency. With cost analysis it is possible to move on to evaluate whether or not the operations are efficient. One way of doing this is to compare what is being achieved with what should be achieved.



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TrueValueMetrics (TVM) is an Open Source / Open Knowledge initiative.
It has been funded by family and friends plus donations from well wishers who understand
the importance of accountability and getting the management metrics right.
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