The Total Cost of Ownership.

If you are an existing entrepreneur or looking to start a business of your own, it will be of great benefit for you to understand the concept of the total cost of ownership. You will make well informed decisions, which in turn, will determine the rate of your success.
The total cost of ownership is a financial estimate designed to help buyers and owners determine the direct and indirect costs involved in making a product or offering a service or system. This management accounting solution can be used in full cost accounting and as well as in ecological economics, whereby social costs are greatly considered. The infographic below lists out the key components of the total cost of ownership. 




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