Benchmarking

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NAJC
NAJC Registered Posts: 44 Regular contributor ⭐
Hi just wondering if anyone has a definition of benchmarking , life cylce costing , target costing and activity based costing ?

Also what is the use and limitations of using published statistics?.

Thankyou xxx

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  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    Hi NJ

    There is a really good section in the BPP book for this under sampling techniques

    A Benchmark is a target that can be measured or judged

    Lifecycle costing is the cost of an assets life from set up costs to running to dismantling.
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