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    itsdaloveshot naNANAnana
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    Cost refers to the amount that must be paid or given up to gain something. In business, cost is usually a monetary value that represents the effort, materials, resources, time, utilities consumed, risks incurred, and opportunities forgone in producing and delivering goods or services. While all expenses are costs, not all costs are expenses.

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    Cost refers to the amount that must be paid or given up to gain something. In business, cost is usually a monetary value that represents the effort, materials, resources, time, utilities consumed, risks incurred, and opportunities forgone in producing and delivering goods or services. While all expenses are costs, not all costs are expenses.

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    4 views14 pages

    Chapter 1 Introduction

    Uploaded by

    itsdaloveshot naNANAnana
    Cost refers to the amount that must be paid or given up to gain something. In business, cost is usually a monetary value that represents the effort, materials, resources, time, utilities consumed, risks incurred, and opportunities forgone in producing and delivering goods or services. While all expenses are costs, not all costs are expenses.

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    © All Rights Reserved
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    of 14

    CHAPTER 1

    Introduction to Strategic Cost


    Management Overview of Cost
    Management and Strategy

    Week 1
    • What is Cost ?
    • An amount that has to be paid or given up in order to
    gain something . In business , cost is usually a
    monetary valuation of the ff:
    • Effort
    • material
    • resources
    • time and utilities consumed
    • risk incurred
    • opportunity forgone in production and delivery of good or
    services .

    All expenses are costs , but not all cost are expenses .

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