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 ...

Process costing is a management accounting function. Business owners use this function to accurately calculate and apply the business costs for producing specific types of goods. Process costing ...

Activity-based costing (ABC) is a method of assigning costs to products or services based on the resources that they consume. Its aim, The Economist once wrote, is “to change the way in which costs ...

Analyzing costs can help companies make strategic, financially sound decisions. Activity-based costing and absorption costing are two popular accounting methods that companies employ when evaluating ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Suzanne is a content marketer, writer, and ...

Product costing is a methodology associated with managerial accounting, i.e., accounting intended to serve management in an operational context rather than to measure corporate performance as such, ...

The industry buzzword “rightsizing” has largely been associated with a focus on shrinking equipment fleets, yet one area that is regularly overlooked and arguably just as important to consider is the ...

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 ...

The aerospace industry today is a buyer driven market, where reducing product cost and delivery cycle time are critical for aerospace OEMs and their key suppliers to remain competitive. However, these ...