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.

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 ...

Labor costing systems are methods of resource allocation to both pay employees and ensure a business achieves the highest profit possible from wages paid. A labor costing system can use process cost ...

The Institute of Management Accountants has issued a new report on developing an effective managerial costing model that builds on the IMA’s Conceptual Framework for Managerial Costing. Processing ...

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 ...

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 ...

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 ...

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.

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 ...

TCG, an SMC3 company and providers of Activity-Based Costing and Profitability Management Tools for truckload and less-than-truckload motor carriers, announced that Old Dominion Freight Line has ...

The request I receive most from contractors is "tell me how to job cost." Why don't they ask me to do something simple, you know, like solving world hunger. Job costing systems are very, very ...