Small businesses and new start-ups must keep close watch on their manufacturing costs to make a profit. The term "variable manufacturing cost" applies to accounting methods to track business expenses ...

Cost accounting and product costing are two accounting methods for determining the cash needed to create goods and services. A company's decision to use either accounting technique can have lasting ...

Discover what applied cost means in accounting, how it works with allocation rates, and see an example to understand its role ...

Full cost (FC) accounting allows companies to capitalize all operating expenses related to locating new oil and gas reserves, regardless of the outcome.

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 ...

Being able to analyze costs using a variety of cost-accounting methods increases the validity of an organization's costing data. Tools should allow multiple cost-accounting methods-such as ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

This note extends previous research on accounting method choice in the petroleum industry by examining the association between selected attributes of "successful efforts" firms and the decision to ...