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, ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, ...

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 ...

The economy is always a hot topic, whether it’s a boom or a bust. While it moves in cycles, there are ways to help your company thrive amid the fluctuation. One of those, Justin Springer said, is an ...

Target costing is a reverse process where companies compare the potential intended benefits of a product or solution with the optimal market price. Once an idea price point is established, you set an ...

Well, here it is budget season for many. And for too many, it’s a frustrating game with little value added. Meanwhile, I’m hearing a lot of buzz about the ITIL concept of service-based costing. Have ...

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 ...

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 ...

Food costing is an exact science and must be done precisely in order to determine the right menu prices for your restaurant The Philippine restaurant industry saw positive light last year with ...