Assignment: Accounting Practices for Managers
Respond to the following:
• What can you learn from the financial statements of competitors that determine the relative cost position of your company?
• What are some of the ways in which you can secure a sustainable cost advantage over the competition?
• How does maintaining a strong understanding of relative costs help you maintain the competitive advantage?
• How do you use cost structure to differentiate products? Do you think product differentiation is a successful growth strategy? Why or why not?
• What is the usefulness of conducting a customer profitability analysis?