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.
Costs (2)
Workflow automation: slash costs, skyrocket results
"Efficiency is doing things right; effectiveness is doing the right things." – Peter Drucker
What is the difference between job order costing and process costing?
In a market where more and more companies compete for efficiency and profitability, knowing the exact cost of producing goods or services can be the...
True Cost Analysis: Unmasking Profitability in a Tariff-Tangled World
"The most dangerous type of waste is that which we do not recognize."
How to optimize my cost structure from a B2B approach
The optimization of the cost structure is not simply making cuts, but on the contrary, it is looking for a way to do more things, but spending less,...
Understanding Costing Methodologies
Imagine running a company without really knowing how much it costs to produce what you're selling. How could you set competitive prices, identify...
Temporal Equations in TDABC Cost Models
In the previous article titled "TDABC: The Revolution of ABC Models," I explained what time-based costing models are and their advantages over...
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:...
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...
Content added to ICX Folder
ICX SUBSCRIPTION
Come and be part of the latest specific insights provided by our experts
