Cost management is the process that involves planning, controlling, initiating and making decisions that improve the cost leadership of an organization.

Techniques of cost control are essential for businesses to maintain financial stability and achieve long-term success. By implementing techniques such as budgeting, optimizing procurement processes, efficient energy management, standard costing, effective labour management, and leveraging technology, organizations can effectively manage costs and improve their overall financial performance. 

Table of Contents:- Flexible Budget Meaning  A flexible budget consists of a series of budgets for different levels of activity. It, therefore, varies with the level of activity attained. A flexible budget is prepared after taking into consideration unforeseen changes in the conditions of the business. A flexible budget is defined as a budget that