Question

Method of costing that supports creation of value for customer by accounting whole value stream, rather than individual departments or products is classified as

Answer 1

Answer:

The Value Stream Costing (VSC) results from the evolution of cost accounting on the basis of the principles of Lean Manufacturing and Lean Accounting. The method follows the principles of mapping the value stream, which uses the concepts provided by Lean to map and identify the value stream of the production process.