The following are some other cost techniques which are useful to management’s decision making:
Opportunity Cost
Represents the opportunities which have been forgone by following one course of action rather than an alternative course. The opportunity cost in this case is the profit foregone by utilizing scarce resources for one [...]

FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach.
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