The Managing Director of EUSB has recently participated in a company sponsored conference and was particularly interested in the possible use strategic management accounting technique such as Total Quality Management (TQM) principles and Kaizen costing concept within the company.

- Explain FOUR (4) similar characteristics of TQM, and Kaizen costing????

Reference Information:

Encoders Unlimited Sdn. Bhd. (EUSB) is a product development company specializing in bringing emerging technologies to market. EUSB is considering extending its product range to include sound band wireless headset. It allows the headphones to be placed behind the ear, rather than inside or covering the ear as earbuds and conventional headphones are used. This product has a short lifecycle lasting around three years only. EUSB is considering a lifecycle costing and target costing approach for its new sound band wireless headset. The Management Accountant also suggested that the company should also consider adopting a Just-in-time (JIT) in order to increase production efficiency.