If you are in the accounting department in a lean manufacturing company, and your company uses a standard costing system, it is inevitable that the you will be faced with dealing how your standard ...

Standard costing is an accounting technique that breaks overspending and underspending on materials, labor and overhead cost into their price and quantity components. For example, a manager may notice ...

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 ...

The Accounting Standards Codification (ASC) is a collection of all authoritative guidance related to generally accepted accounting principles (GAAP) in the Unites States. While it is convenient to ...

Despite growing interest, proponents say there's still a long way to go before lean accounting becomes a mainstream practice. When Orest "Orry" Fiume was vice president of finance and administration ...

This instruction identifies specific items of costs that are either allowable or unallowable on sponsored accounts and specifies which allowable costs are treated as direct costs and which are treated ...