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Companies operating in an advanced manufacturing environment are finding that about 90% of the products life cycle cost is determined by decisions made early in

Companies operating in an advanced manufacturing environment are finding that about 90% of the products life cycle cost is determined by decisions made early in the cycle. Management accounting systems should therefore be developed that aid the planning and control of the product life cycle costs and monitor spending at the early stages of the life cycle. Required: Having regard to the above statement:

Explain briefly the concept of activity-based management and TWO benefits that its adoption could bring for a business?

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