Excel is a great tool, but it is not a suitable platform for company planning. A modern planning process must be quick, flexible, and capable of responding rapidly to changes. The Covid crisis and the …
Cost objects are a crucial component in activity-based costing (ABC) for measuring profitability and making informed decisions. They are defined based on the purpose of decision support and are …
Cost price, along with market information, is a crucial factor in pricing decisions. The significance of cost price in decision-making varies for different types of organizations (e.g. manufacturing, …
The introduction of resource-consumption accounting is the most valuable step in streamlining cost accounting systems, more details here. Definition of resources is a prerequisite for resource …
Resources are the objects (e.g. people, equipment, systems, premises) required to carry out activities. These resources can be identified by observing activities. For effective management, cost …