The Department of Accounting Studies at the Higher Institute for Accounting and Financial Studies at the University of Baghdad held a scientific symposium via the Zoom application entitled (Strategic Cost Management Techniques and the Need to Adopt them in Iraqi Industrial Units) delivered by Prof. Dr. Thaer Sabri Mahmoud from the Department of Accounting Studies in the presence of a number of professors, students, employees and experts.
The symposium aimed to introduce individuals to the strategic cost management techniques and demonstrate the elements of their adoption in Iraqi economic units, especially industrial units, in an effort to develop the currently adopted technological system, where strategic cost management is based on value chain analysis that includes all activities that create value from the supplier to the final consumer as a cost management perspective.
The participants reached at several recommendations, the most important of which is the need to spread awareness within economic units of the importance of strategic cost management and the great role in developing performance and reducing costs, which effectively contributes to enhancing competitive advantage, and the need to pay attention to the qualification of management accountants by developing programs in strategic cost management methods, and the need to think about providing systems to train workers to become multi-skilled and to be able to deal with technical problems, and to spread the culture of teamwork and cooperation between the various functions within the units and the need to think of restructuring the traditional accounting systems of the units to be in line with adopting the strategic perspective of cost management.