Process costing is a management accounting function. Business owners use this function to accurately calculate and apply the business costs for producing specific types of goods. Process costing ...

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

QuickBooks is designed to be a simple accounting and bookkeeping software suite. In the spirit of simplicity, it limits decisions that are within the Generally Accepted Accounting Principles.

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 ...

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 ...

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 ...