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Category Archives: Cost Theories
Out-Of-Date Costing Systems: Don’t You Want to Get Better?
Our most recent cost assignment involved a meeting with a client that had a very large manufacturing operation. During the first hour of the discussion, we learned that they were very sophisticated in their manufacturing processes and were state-of-the-art in … Continue reading
Posted in Cost Theories, Costing, Systems
Tagged accountants maumee, accountants toledo, accounting systems, cornerstones of cost accounting solutions, cost accounting, cost accounting best practices, cost accounting consulting, cost accounting solution manual, cost accounting solutions, cost accounting system, cost theories, costing in business, costing systems, maumee cpa, maumee cpa firm, method of costing, traditional costing systems, william vaughan, William Vaughan Company
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Applying Standards: Can You Really Use This?
I was reading a book concerning applications of standard costs in a variety of different manufacturing environments and one part of the book was devoted to determining at what point in the process of manufactured goods does one apply the … Continue reading
Posted in Building the Cost System, Cost Theories, Reconciliation, Variances
Tagged accountants toledo, analysis of variance analysis of variance, cost accounting standards, cpa toledo, manufacturing process, manufacturing processes, manufacturing variance, manufacturing variances, maumee cpa, product variance, product variances, standard cost, standard cost system, standard cost variance, standard costing, standard costing system, standard costs, standards in accounting, william vaughan, William Vaughan Company
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Capacity Increases…So Costs Decrease??
Last week Tara and I presented an educational program to a group of business professionals on the subject of cost accounting and current trends in cost accounting. As always this was an interesting conversation with a number of participants bringing … Continue reading
Big or Small the issues are the same
One of the items that amazes me most is the common features I see between the largest cost accounting systems that we run across i.e. those related to multinational, multibillion dollar companies and the accounting costing systems that we see … Continue reading
Posted in Cost Theories, Costing, Reconciliation
Tagged cositng system, costing trait, maumee cpa
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Domestic Manufacturing- a thing of the past?
I recently came across this quiz in the October issue of CFO magazine. For those of you who also read it, you know that the answers were at the bottom. I have to admit that I took the quiz and … Continue reading
Posted in Cost Theories, Costing, Monitoring & Reporting
Tagged cfo magazine, china, costing, maumee cpa, outsourcing, us census bureau
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Gen Y and Manufacturing-is that an oxymoron?
The question of how do we attract generation Y to the manufacturing area is a very complicated issue. I have thought about this topic and I came across a blog article about it the other day: A Gen Y Perspective … Continue reading
Posted in Cost Theories
Tagged Black Ops, genearation Y, generation Y and manufacturing, manufacturing
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”Numbers must equal stories, stories must equal numbers”
This is a direct quote from one of the participants at our now somewhat “famous” cost forum. I found it so intriguing I wrote it down, along with many other comments. This one, of course, struck me the most. … Continue reading
The highly anticipated third post…
This is the last in a series of three posts that I’ve written concerning when a manager would know that they’re having a cost problem. In the first post, I discussed gross profit fluctuations and how costing issues might lead … Continue reading
Posted in Building the Cost System, Cost Theories, Costing, Monitoring & Reporting, Pricing, Systems, Variances
Tagged cost system, inventory, inventory value, reporting
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What is the value of your inventory this month?
This is the second part of my three-part series on how do you know if you have a problem related to your costing. In the last blog article, I mentioned how costing problems may develop other problems in a company … Continue reading
Posted in Building the Cost System, Cost Theories, Costing, Systems
Tagged costing, costing system, inventory, inventory control
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Oh NO! Do not go over NRV
Maybe this is not as dramatic of a subject as my title would suggest, but hey you are reading this- aren’t you? I guess that is the point of a catchy title to get your interest and get you to … Continue reading
