The Benefits of Using Activity Based Costing to Manage Costs

Costs are an important part of the business. Let them spiral out of control, they will affect both your profitability and cash flow. In meeting the needs and wants of customers, organisations have to employ the use of processes and activities. These processes and activities are critical for creating customer value.

However, to effectively and efficiently manage business costs, one has to have a thorough knowledge and understanding of all the activities and processes employed within the business to create value. In addition to that, knowledge of cost drivers is very critical. A cost driver being a factor influencing the level of cost.

Activity Based Costing Overview

Dave Packard Chairmen of Hewlett-Packard said "Tell me how a person is measured and I'll tell you how they will perform."
Business Metrics are tailored performance measures that promote the strategic goals and objectives of the organiza­tion.
The spectrum of business measurements spans a wide variety of Management Accounting methods. Traditional financial measures, such as Work in Process (WIP) and piece rates, are rapidly being replaced by time based measures, like Raw and In-Process (RIP) and rate based planning.

Before Making A Money Transfer Know What The Restrictions Are

A00-260 Sending money abroad is not as complicated as it was a few decades ago but you should be aware that many governments worldwide impose restrictions on foreign exchange payments and on possession of foreign currency. These restrictions can apply to local residents or non-residents alike and knowing the local legislation will help you avoid unnecessary complications. Of course, it is hard to be acquainted with the local laws and regulations in detail; therefore, taking a good advice from an expert specialising in money transfers is more than advisable.

Becoming a CPA

A00-211 Becoming a CPA requires a love for organization and numbers. CPA stands for Certified Public Accountant. The average CPA makes around $50,000 a year (for entry level) and the demand for these positions are rising. They are usually certified by the state and required to take an exam. Most people who are in this field will also need to complete a certain amount of education and gain experience before landing their first big break in the industry.

Become Debt Free - No Bankruptcy, No Debt Relief

C_TERP10_65 Debt is an 'incapacitating' financial burden you carry which continues to grow more and more because of the interest payable on the total amount owed. Many never get to fully recover financially with the degree of escalating debts to pay and/or settle in addition to keeping their lifestyles going.

Become a Savvy Shopper and Clip Coupons

C_TADM53_70 Clipping coupons is back! More and more women are now shaving at least $50 a week off their budget by clipping coupons. There are billions of coupons distributed and only a small percentage is redeemed. This is because when we think about clipping coupons to save money, we think how time consuming and inefficient it is. Nowadays technology has allowed us to take advantage of saving money through coupons via internet and our cell phones.

Become A Financial Whiz

C_BOWI_30 A nine-to-five job isn't the only way to make money. By becoming more financially aware, you could dramatically increase your disposable income. Spend just an hour or so each week putting your financial affairs in order and you could see a big difference in your bottom line. It's all about seeing where you can make savings and how you can get more money coming in.