The Possibility of Using the Modern Technologies in Accounting and Management to Reduce Costs and Achieve Competitive Advantage for Service Business Organizations

Abstract

The aim of reducing costs is one of the strategic targets of the company management because through reducing the costs, it is possible to keep the market’s status of the company and secure its sustainable existence. According to the modern productive systems which follows the automation in a high degree, there is no consideration of the manual work, and the traditional strategies to reduce the cost.New approaches in the cost reduction such as (Value Engeenering, Cost of the product life cycle , Kaizen costing, Matrix and quality functions, and Back Flash Costing). Hence, we can say that the recent environment of manufacturing has an effect on the accounting of costs, so it can respond by utilizing many techniques of cost management as recent activities. Thus, the present study tries to show the effect of integration among these techniques and their correlation in the interest of business organizations. The light will be shed on the modern strategies which are used in reducing the cost and the effects resulting from its application .