Activity-based costing for small and mid-sized businesses

"Activity-based costing (ABC) is not just for industrial giants and high-volume discrete parts manufacturers. It is a cost accounting concept that can be used by almost any manufacturing or service organization to gain a competitive advantage through greater understanding of its product and process costs. This book will show you how your organization can adopt ABC in a practical, cost-effective way without dismantling your current cost information systems." "In recent years, activity-based costing has been revolutionizing the way in which many large manufacturing companies measure their products' costs. Traditional cost accounting methods may have been able to determine the inventory value and cost of sales for an entire organization, but they seldom provided accurate or relevant information on individual products or services. With ever-increasing competition from both domestic and international suppliers, these manufacturers have found that ABC provides them with the improved accuracy in measuring product and process costs that is critical for any organization that hopes to maintain or improve its competitive position. By following the steps outlined in this book, your organization can also gain the benefits of accurate and relevant cost information." "Unlike many other books on this subject, Activity-Based Costing for Small and Mid-Sized Businesses is written by a practicing accountant, not an industrial engineer or an academic. Douglas T. Hicks leaves the theorizing to others and describes an approach he developed while solving problems in the field, not in a "think tank."" "Important features include a unique, proven method of developing and visualizing cost flows; a spreadsheet model blueprint with data flows; an ongoing case study to document the model-building process; a special chapter dedicated to service businesses; and an entire section describing how ABC can be used to improve the overall decision-support system.". "For controllers, cost accountants, owners and managers of small and mid-sized companies, this book offers a proven, practical alternative to the complex, high-cost ABC being promoted by others. CPAs will benefit by increasing both service to their clients and revenues to their firms. Having been developed as an improvement to existing cost systems, not as a replacement for them, the method described in this book also allows educators to incorporate ABC into existing cost accounting courses."--BOOK JACKET.