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Critics have claimed that traditional managerial accounting is at best useless and at worst dysfunctional and misleading. Today's general ledger and budgeted spending systems support departmental and "stovepipe" managerial philosophies. In contrast, activity-based costing (ABC) information supports process-based thinking. ABC is a key component of the increasingly popular enterprise and corporate performance management (EPM/CPM) systems.
Cross-functional processes are now recognized as the integrating theme for how work gets done, how outputs are produced, and how customers get served. Only ABC can bring truly accurate fact-based measures and visibility to costs. ABC does not use broadly averaged cost allocations, but rather traces cost using cause-and-effect activity cost drivers. The resulting cost visibility informs manager about what things costs and more importantly why things have costs. ABC goes beyond product costing to also measure channel and customer profitability.
ABC also helps reduce costs and improve productivity by reporting per-unit costs that can be used as benchmarks and to monitors cost trends. ABC can also associate costs with value, quality, and waste, with their strategic importance, with their level of performance, and other "attributes" of work. All of this cost and trait data are further translated into which products, channels, customers or internal company-sustaining workforce staff cause and consume all of the resources......and in exactly what proportions.
Ultimately cost data is simply a means-to-ends where the ends are the decision-making of the organization. Today an emerging focus is to become a "learning organization." Unlike traditional accounting reports to which managers react by being happy or sad, ABC data makes them smarter!
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Source: Best Practices in Costing, Management Accounting, Activity Based Costing PowerPoint Slides: Activity-Based Cost Management (ABC/M) PowerPoint (PPT) Presentation, Gary Cokins
ABOUT THE AUTHOR: GARY COKINS
Gary Cokins is an internationally recognized expert, speaker, and author in business analytics enterprise and corporate performance management (EPM/CPM) improvement methods (e.g., strategy map and its balanced scorecard; product, channel, customer profitability reporting usinf activity-based costing; driver-based rolling financial forecasts).
He is the founder of Analytics-Based Performance Management, an advisory firm located in Cary, North Carolina. Gary received a BS degree with honors in Industrial Engineering/Operations Research from Cornell University in 1971. He received his MBA with honors from Northwestern University's Kellogg School of Management in 1974.
Gary began his career as a strategic planner with FMC's Link-Belt Division and then served as Financial Controller and Operations Manager. In 1981 Gary began his management consulting career first with Deloitte consulting, and then in 1988 with KPMG consulting. In 1992 Gary headed the National Cost Management Consulting Services for Electronic Data Systems (EDS) now part of HP. From 1997 until 2013 Gary was a Principal Consultant with SAS, a leading provider of business analytics software.
His two most recent books are Performance Management: Integrating Strategy Execution, Methodologies, Risk, and Analytics, and Predictive Business Analytics. His books are published by John Wiley & Sons.
File Type: PowerPoint (ppt)
File Size: 4.9 MB
Number of Slides: 101 (includes cover, transition, & marketing slides)
Related Topic(s): Costing Management Accounting Activity Based Costing
This business document is categorized under the function(s): Corporate Finance Strategy, Marketing, & Sales
It applies to All Industries
Purchase includes lifetime product updates. After your purchase, you will receive an email to download this document.
This product contains a supplemental PDF document.
Initial upload date (first version): Apr 29, 2018
Most recent version published: Apr 30, 2018
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