Accounting Tools

OCTOBER 25, 2023

Related Courses Cost Accounting Fundamentals Public Company Accounting and Finance What is Compliance Cost? Compliance cost is the total cost incurred by a firm to comply with applicable regulations. These regulations may cover such areas as tax reporting, environmental topics, transport, and finances.

Cost Accounting 40

Cost Accounting Collections Tax Accounting 40

Accounting Tools

MAY 4, 2023

Which Activity Drivers to Use Few companies already compile information about activity volumes, so deciding to use a new activity driver for cost pool allocation purposes means that a business will have to create a new data collection system. In short, it is critical to use only the most cost-effective activity drivers.

Invoice Processing 40

Invoice Processing Cost Accounting Invoicing Collections 40

Accounting Tools

MAY 18, 2024

For the purposes of this specific production-increase decision, then, the associated direct costs are: Related AccountingTools Courses Cost Accounting Fundamentals Financial Analysis When to Use Direct Costing Direct costing is of great use as an analysis tool.

Financial Statements 52

Financial Statements Financial Reporting Financial Analysis Cost Accounting 52

Accounting Tools

APRIL 4, 2023

Related Courses Cost Accounting Fundamentals What is the High-Low Method? The high-low method is used to discern the fixed and variable portions of a mixed cost. You can reduce this potential problem by collecting information at other activity levels and affirming the fixed and variable relationships at these other levels.

Collections 40

Collections Cost Accounting Budgeting Invoicing 40

Accounting Tools

MAY 19, 2023

Related Courses Activity-Based Costing Activity-Based Management Cost Accounting Fundamentals What is Activity-Based Costing? Activity-based costing (ABC) is a methodology for more precisely allocating overhead costs by assigning them to activities.

General Ledger 40

General Ledger Purchase Order Collections Cost Accounting 40

Accounting Tools

APRIL 14, 2024

Thus, the variance is really based on a standard price that was the collective opinion of several employees based on a number of assumptions that may no longer match a company's current purchasing situation. The result can be excessively high or low variances that are really caused by incorrect assumptions.

Budgeting 40

Budgeting Collections Cost Accounting Accounting 40

Accounting Tools

APRIL 17, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals What is Standard Costing? Standard costing is the practice of substituting an expected cost for an actual cost in the accounting records. This results in significant accounting efficiencies.

Budgeting 40

Budgeting Cost Accounting Accounting Accounting 40

Accounting Tools

APRIL 23, 2023

This option is used when it is too difficult or expensive to collect data about an activity driver. For example, the number of production runs can be used as a surrogate activity driver for the materials disbursement activity if material disbursements coincide with the volume of production runs.

Collections 40

Collections Cost Accounting Accounting Accounting 40

Accounting Tools

FEBRUARY 15, 2024

The information used in an ABM analysis is derived from activity-based costing , where general overhead costs are assigned to cost objects based on their use of activity drivers.

Customer Service 40

Customer Service Budgeting Collections Cost Accounting 40

IMA's Count Me

NOVEMBER 16, 2022

And then I took my cost accounting class and my professor promoted the CMA and had someone come in and do a presentation for us. So that's how I heard about the CMA within my cost accounting class. And I love how you said, "Accounting is the language of business." Even though there was this big push.

CPA 40

CPA Computation Management Accounting Accounting 40