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Costs

What are Cost Centers?

6 min read

What are Cost Centers?

In business management, optimizing resources and controlling expenses are key priorities. One of the most effective methods to achieve these...

What Are Standard Costs

5 min read

What Are Standard Costs and How to Calculate Them?

Imagine you are managing a factory and need to know how much it will cost to produce a new product.

TDABC: The Revolution of ABC Cost Models

4 min read

TDABC: The Revolution of ABC Cost Models

If you’ve read my article titled “Top Tips for Making Your Cost Model a Total Disaster”, you’ll know that one of the factors that can kill a cost...

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4 min read

The quality of your model depends on the quality of your drivers

When building a cost model, the main concern is ensuring that the model "balances," meaning that all inputs match the outputs, ensuring nothing is...

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5 min read

What is ABC costing? what advantages does it have over other costings?

The idea of ABC costing is not new; rather, it dates back to the 1970s, with its development primarily attributed to two accounting professors:...

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4 min read

Is Excel Cost Modeling a Path to Failure?

It's hard to imagine a company these days that doesn't use Excel. Not only are we very accustomed to using it, but it's also a powerful tool that has...

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