KAIZEN COSTING: A CATALYST FOR CHANGE AND CONTINUOUS COST IMPROVEMENT

The paper presents the application of kaizen costing as a tool of positive changes and continuous cost improvement. There is confusion between concepts ‘Kaizen’ and ‘Kaizen Costing’ in previous studies. The paper discusses that kaizen costing is the part of new business concept ‘Kaizen’ and this method is based on the philosophy of ‘Kaizen’ a new way of thinking. The paper also describes the main differences between kaizen costing and other similar term ‘Innovation’. The paper discusses that kaizen costing is used as a modern costing method for continuous cost improvement and this method is different from old cost control techniques standard costing.

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