homage. n. 1. a public show of respect or honour towards someone or something (esp in the phrases pay or do homage to). 2. (Historical Terms) (in feudal society). a. the act of respect and allegiance made by a vassal to his lord. See also fealty.
Cost management is the process of planning and controlling the budget of a business.
Cost accounting is a process of collecting, analyzing, summarizing and evaluating various alternative courses of action. Its goal is to advise the management on the most appropriate course of action based on the cost efficiency and capability.Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future.ts goal is to advise the management on the most appropriate course of action based on the cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future.