Regardless of industry, a typical accounting department operates as a cost center, albeit a critical one that supports your firm’s core operations. It’s understandable, considering the traditional ...

Manufacturing overhead – also called indirect costs – are any costs that a factory incurs other than direct materials and direct labor needed to manufacture goods, notes "Accounting 2," a reference ...

As wary as executives are these days of anything that smacks of "creative" accounting, there's a quiet revolution unfolding among lean manufacturers. The idea creeping into the heads of a few radical ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

While hospitals represent roughly 33% or $1.2 trillion of the total $3.6 trillion spent annually on U.S. healthcare, their average net operating margins have dropped below 3% with close to 30% ...

Time-driven activity-based costing may offer a better cost estimation of resources needed to treat patients with ankle fractures compared with traditional cost accounting, according to recently ...

Traditional cost accounting for mixed-use residential projects often does not properly allocate all construction costs to each section of the property. Consequently, there may be a significant ...

Accountants can use any one of three methods for calculating inventory value and cost to keep a business in compliance with accepted accounting standards. Each method can present different problems ...

Over a decade ago, I became intrigued by the idea of using a mastery approach to learning in accounting classes. It inspired me to convert my junior-level cost-accounting course to a mastery-based ...

The Deloitte Center for Controllership and Institute of Management Accountants (IMA) have reported that finance and accounting professionals are increasingly using AI, machine learning, and advanced ...