A process costing system is a technique used within the manufacturing industry to determine the total production cost of a unit of merchandise. It is particularly used in environments where production ...

The Institute of Management Accountants has released a new report explaining how accountants can improve their organization’s costing models, tools and information to support better decision making.

Activity-based costing, or ABC, is a costing method that managers can use for internal cost reporting and decision making. While ABC isn't allowed for external financial reporting, companies may find ...

Activity-based costing (ABC) is an accounting method that allows businesses to gather data about their operating costs. Costs are assigned to specific activities—planning, engineering, or ...

Knowing costs is the price of admission to the construction industry. We simply cannot survive if we do not know, or are not able to estimate, the cost of the work and the cost of the resources used.

Another problem hampering IT managers who are trying to make data available to business executives on a real-time basis is their companies’ reliance on legacy accounting systems that are centered on ...

Job costing can be described simply as charging each job or each phase code for the resources they used to produce work, and crediting the job or job-phase code with the budgeted value of the work ...