Implementing cost accounting efficiently and with limited resources requires a strategic and streamlined approach. In this article, the author outlines a step-by-step action plan to achieve it.
In the second part of our blog series on Demystifying Cost Accounting, the author focuses on the practical aspects of cost control in manufacturing.
In the first part of our three-part series on "Demystifying Cost Accounting: Beyond the Numbers," we delve into manufacturing costing, an essential element often overlooked in business management. In this article, we explore how cost accounting can be leveraged not as a ledger confined to numbers but as a strategic resource.
FP&A managers have a unique opportunity to amplify their contribution even more. It lies in leveraging automation across the organisation’s overall spending management model to drive better business outcomes. This article considers the benefits which automation may bring to us.
Challenging market and rising costs put businesses into a non-stop race for efficiency and expense reduction. Cost management and identification of real expenditure sources in the production process are among the highest priorities for Financial Planning and Analysis (FP&A) and the entire finance department in almost every company.
The longer these types of primitive FP&A analysts and accountants delay implementing ABC, then the greater the risks. The issue here is not mainly about product and standard service-line costing to understand their profit margins. The issue is about the emerging need to report and analyse distribution channels and customer profitability.