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

Businesses use the high-low method of accounting when they want to accurately calculate the variable and fixed costs for a certain amount of sales. If a business finds that certain sales levels are ...

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 ...

The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

Cost accounting in healthcare has never been more important, but is often considered too difficult, expensive or resource intensive for many healthcare organizations. Additionally, other critical ...

Cost accounting is an essential activity for laboratory animal facility management. Reasons for carrying out cost accounting include establishing the actual costs of facility operations; assessing ...

The Financial Accounting Standards Board (FASB) introduced a new accounting standard that requires companies to present service cost as the only operating component of periodic pension costs on the ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

Until now, cost accounting as a useful tool in hospital financial decision-making has been widely ignored. Although the RCC (ratio of cost to charges) approach still used by 70 percent of healthcare ...