This discussion of the manufacturing environment of today focuses on three prominent and changing aspects: Cost Management, Activity-Based Cost Accounting, and Just-In-Time Inventory Systems. After introducing traditional cost accounting systems and their obvious deficiencies the discussion turns towards the needs of today's environment in manufacturing. Focusing on the informational needs of management that are to be generated by manufacturing cost accounting systems has led to the advent of Activity-Based Costing and the conservation of cost through JustIn-Time Inventory system application.