After studying this chapter you should be able to . . .
Explain the use of cost management information in each of the four functions of management and in different types of organizations, with emphasis on the strategic management function
Explain the contemporary business environment and how it has influenced cost management
Explain the contemporary management techniques and how they have influenced cost management
Explain the different types of competitive strategies
Describe the professional environment of the management accountant, including professional organizations, professional certifications, and professional ethics
Understand the principles and rules of professional ethics and explain how to apply them
