Does cost analysis help managers to improve the work performance & increase the profits ?

cost is not enough by it self you will have to get some information about the market which you are planning to invade so you can have profits by making a visibility study calculating your Risk market then you can have a clear vision about your investment then you can calculate your sales, required return , and the expected return these are important for you to have a biggest return with less risk .
the answer before is awesome but it needs a little cautious to be perfect because you don't want to lose your portfolio or your investment just because you know the cost

Yes, absolutely. Only when you understand your costs, can you begin to make both cost and efficiency savings. This is one of the basic principles of lean manufacturing through process improvement. If you map the process, analyse the costs, then you can strip waste from the process/ costs and generate extra bottom line revenue whilst remaining at your most competitive state.

Yes, by investigating the costs and eliminate the unnessesary activities and costing and by closing the nonprofitable segments

 Yes it does, in general financial analysis help managers to improve the work performance & increase the profits and cost analysis is part of it.

 

Yes By Following three Basic Steps: Step 1: Cut out unprofitable products and services Step 2: Target new customers from within groups Step 3: Outsmart your deadbeat customers

Agree..Every Financial Activities are Important..

There are lots of costs out there. You must be able to balance the matter between reliability, safety, quality and costs. Most CPAs focused only on costs thats how they do it basically from accounting ledgers. But isnt it there are costs that are beneficial to operations and as part of your risk assessment maybe you can include probabilistic models versus actual to gage your key performance indicators for Operational Exellence.