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 ...

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 ...

The COVID-19 pandemic has strained hospital revenue because of reduced patient volumes and expenses related to the virus. To improve their financial picture, organizations must make cost-reduction ...

Generally accepted accounting principles require that businesses assign all costs of production to the products they make. This cost assignment process occurs through the use of a traditional costing ...

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 ...

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 ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Ebony Howard is a certified public ...