Cost Governance - The Expressway Towards US$5 Trillion Economy

Abstract

An attempt has been made in this article to present how 'Cost governance' is helpful as a powerful tool or weapon or as an 'Expressway' towards reaching the destination of USD 5 trillion economy by 2024-25. Cost Governance requires implementation of Cost Accounting Records; thus Cost Accounting Records empower Cost Competency, Cost Synergy and Cost Reduction with the ultimate goal of achieving Cost Leadership. Cost Governance can be adopted by any entity, it can be a Panchayat or the PMO or a big organization.