Outline•Service organisations•Value chains•Service production environments•Costing systems for services•Estimating service costs and the flow of costsin service firms•Uses of service costing•Retail and wholesale costing•What are overhead costs?•Allocating…
Effects of Beginning and Ending Work in Process Inventories•Four steps in process costing1.Analyse the physical flow of units2.Calculate the equivalent units3.Calculate the unit costs4.Analyse the total…
Outline•Process costing•Process costing with WIP inventories•The effects of beginning and ending work inprocess inventories•Process costing steps and calculations•Hybrid costing systems: operation costing forbatch manufacturing processes•Other issues…
Learning Objectives Continuum of Conventional Costing SystemsJob CostingJob Costing• •Job costingJob costing -Manufacturing costs traced to individual jobsManufacturing costs traced to individual jobs -Products produced are…
Overview•Product costing•Different costs for different purposes•Designing product costing systems•Flow of costs in manufacturing businesses•Allocating overhead costs to products•Accounting for manufacturing overhead• Types of product costing systems…
Outline•What are cost behaviour, cost estimationand cost prediction?•Cost drivers•Cost behaviour patterns•The relevant range•Engineered, committed and discretionarycosts•Cost estimation•Practical issues in cost estimationCost Behaviour PatternsCost Behaviour Patterns• •Cost…
The powerful capabilities of smart, connected productsnot only reshape competition within an industry,but they can expand the very definition of the industryitself. The competitive boundaries of…
The capabilities of smart, connected products canbe grouped into four areas: monitoring, control,optimization, and autonomy. Each builds on thepreceding one; to have control capability, for example,a…
nformation technology is revolutionizingproducts. Once composed solely of mechanicaland electrical parts, products have becomecomplex systems that combine hardware,sensors, data storage, microprocessors,software, and connectivity in myriad ways.These…
Suppose you could have a chat about your business with Professor Michael Porter ofHarvard, the noted academic and consultant whose concepts are central to thepractice of…
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