I have a case study and I need some ideas please. below is a summary. I...

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Accounting

I have a case study and I need some ideas please. below is asummary. I needs ideas regarding management of cost accounting
In a company X, the expenses in human ressources are taking 60%of the revenue, so the profit is being considerably reduced. as acost accountant, what strategies or tactics can be implemented inorder to manage better or minize this cost and increase profit.PLEASE i NEED ideas in order to keep moving with this case study.thanks

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ANS Dear student There are 3 main ways to improve the profitability of your company Sell more price higher and reduce costs Some organisations focus mainly on selling and on delivering great service to customers That is great Let us remember that profits can also be increased by greater cost efficiency How do we achieve this Here are 19 practical ways of reducing costs and increasing your profits How many might you action to make 2019 a more profitable year See every cost as up for grabs No cost is too small to worry about Ask yourself If I eliminated this cost would revenue customer satisfaction or profits be adversely affected For all costs associated with customer satisfaction be sure you are only spending on what customers really value In areas where you wish to control costs set authorisation levels so that approval is required before the expenditure is made Speak to your suppliers and negotiate reductions on the cost of your purchased products What of your sales are you spending on purchased products If this is 40 and you reduce by 10 you have added 4 margin points to your bottomline Start See Answer

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