Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...

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

Activity-based costing, or ABC, is a costing method that managers can use for internal cost reporting and decision making. While ABC isn't allowed for external financial reporting, companies may find ...

Determining the cost or valuation of inventory held in a company is an important management task. Inventory often represents a large portion of total assets on the balance sheet and the method used to ...

Restaurant accounting has specific needs and features. Here's a look at restaurant accounting methods and expenses, how tips ...

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 ...

Value in health care is defined as outcomes achieved per dollar spent, and understanding cost is critical to delivering high-value care. Traditional costing methods reflect charges rather than ...

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 ...