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INTERNATIONAL JOURNAL ON ECONOMICS, FINANCE AND SUSTAINABLE DEVELOPMENT Available bailable online at www.researchparks.orgIJEFSDRESEARCH PARK Journal homepage: www.researchparks.org/Cost Control Policy
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Identify the key stakeholders who will be involved in the cost control policy.
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Cost control policy is a set of guidelines and procedures put in place by a company to monitor and manage expenses in order to stay within budget and achieve financial goals.
Companies and organizations of all sizes are required to establish and file a cost control policy.
To fill out a cost control policy, companies should outline their budget, establish expense guidelines, monitor expenses regularly, and periodically review and adjust the policy as needed.
The purpose of a cost control policy is to ensure that expenses are managed effectively, budgets are adhered to, and financial goals are achieved.
Cost control policy should include a breakdown of budget allocations, expense categories, spending limits, approval processes, and monitoring procedures.
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