Cost Information in Business Management

Marin Andeica, Vasile Deac and Gheorghe Lepadatu
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Gheorghe Lepadatu: "Dimitrie Cantemir" Christian University

Knowledge Horizons - Economics, 2010, vol. 2, issue 1, 80-95

Abstract: The production and the selling costs’ level represents in business management the inferior limit of the prices. Nobody can establish the prices in an efficient way without a prior understanding of the costs. The cost’s understanding is probably the most challenging aspect of establishing the prices, respectively the knowing of the way in which the prices are going to be changed and which is the impact over the sales which result out of the decision of establishing or modification of the prices. In business management, the typology of the production costs and selling costs is a lot different from the theoretical perspective of the politic economy or from the rigid perspective of the accountability. Having in mind these aspects, in business management, from the perspective of substantiating the price’s strategy, the costs have another signification, respectively the relevant and irrelevant costs.

Keywords: Business management; cost understanding; fixed costs; variable costs; relevant costs; irrelevant costs; avoidable costs; irrecoverable costs; costs’ accountability (search for similar items in EconPapers)
JEL-codes: M16 (search for similar items in EconPapers)
Date: 2010
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