The generally accepted accounting matching principle requires manufacturing and service businesses to include direct and overhead expenses in product and service costs and, when appropriate, in ...

Discover how absorption costing is used in GAAP for external reporting. Learn its components and why it's essential for ...

The service industry is highly competitive and, as a result, service providers are always looking for more efficient ways to operate that will reduce their overall costs. One of these is cost ...

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 ...

Plastics processors are fortunate to have several options for managing and calculating costs. In part one of this series, we discussed the benefits of a production profit contribution model. This ...

And wouldn’t you know it; the need for more operational data is at the heart of it. “A couple of people sent me letters from shippers during that [pre-ELD] time which said, ’We’re so grateful for all ...

Activity based costing (ABC) is an accounting technique that aims to clarify exactly how and where a company makes its profit. ABC assigns costs to all the resources needed to carry out a particular ...