Activity-Based Costing method in hospital management. Primary objective of the paper is to outline the methodology of the ABC application in hospitals. First part of the paper analyzes the ways of ABC implementation in published foreign studies. Second part describes the individual steps in ABC application and discusses the differences in the application procedures between the manufacturing and hospital organization. Key words: Healthcare Management, Cost Management, Activity-based costing, Introduction
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of products, price and investments. [C4] | | |Prepare and produce a budget, understand chain processes and apply the said techniques. [P4] | | |Utilise strategic costing, understand and implement ways to review inventory and quality, and
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* Traditional Costing * * Under Traditional Costing, all operating expenses are allocated by percent of sales. This causes the larger segments to carry more cost automatically. For Southlake, Textbooks generate the most income, however the gross profit percentage is only 26%. Clothing has one of the best gross profits and generates the 2nd most income. With traditional costing, computers are operating at a loss. Under Traditional Costing, all operating expenses are allocated by percent
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products or services. To avoid such situations Activity Based Costing (ABC) system was developed. ABC system main principle is to identify main activities of the company, group costs of these activities, identify how these activities can be measured and assign costs to products or services though these measures. ABC system helps managers to allocate costs more accurate to final products or services. However, ABC system has some limitations. For ABC implementation company needs a lot of resources (trained
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Coverdrive Ltd Case Study: Activity Based Costing Situation At a recent management meeting at Coverdrive Ltd, the members of the senior management team discussed the introduction of a new product to the company’s range of high quality, hand made cricket bats. A major agenda item was pricing. The management accountant, since his appointment, had given much thought to pricing policy and one of his concerns was that of dealing with the recovery of overhead within a full cost pricing policy
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Nick Lagrange November 7, 2012 Writing Assignment 2 ABC Costing 1. Briefly describe the ABC system adopted in Super Bakery. The ABC system implemented by Super Bakery was done to separate costs by customer instead of allocating overhead evenly across the entire customer base. Their reason for doing this was simple; they wanted to see how profitable each customer was. In the nature of this business, it is described in the article that “…very few customers’ orders consume
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ACTIVITY-BASED COSTING Activity-Based Costing (ABC) adalah suatu sistem informasi akuntansi yang mengidentifikasi berbagai aktivitas yang dikerjakan dalam suatu organisasi dan mengumpulkan biaya dengan dasar dan sifat yang ada dan perluasan dari aktivitasnya. ABC memfokuskan pada biaya yang melekat pada produk berdasarkan aktivitas untuk memproduksi, mendistribusikan atau menunjang produk yang bersangkutan. Sistem ABC timbul sebagai akibat dari kebutuhan manajemen akan informasi akuntansi yang
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148 86 ( DM+ TOTAL OVERHEAD ) Output Overhead Output QC Overhead QC Total overhead cost for each job Total hours Material Customer initited worked correction of house error TOTAL COST Profit for each 12 1778 9 777 11426 93 5400 2700 19526 -9926 12 1778 11 950 9341 81 3500 1100 13941 -4341 16 2371 8 691 13013 146 4500 17513 5487 4 593 4 345 5007 58 1800 6807 5193 4 593 4 345 4863 56 1500 6363 4637 4 593 6 518 5324 62 1500 6824 4176 8 1186 5 432
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Product Costing Module in ERP for L&T Kansbahal Works, Kansbhal, Orissa : A Case Study 1 Seema G. Bhol, 2Arun Mishra & 3Srikanta Patnaik Sambalpur University, Burla, Orissa, India, 2Head (IT Services), L&T, Kansbhal, Orissa, India, 3 Department of Computer Science ITER , SOA University , Bhubaneswar, Orissa, India E-mail : guptaseema@hotmail.com, arun-kbl@kbl.ltindia.com, patnaik_srikanta@yahoo.co.in 1 Abstract - One need to be very accurate in what the products and services are costing. Inaccurate
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SELECTION CRITERIA FOR IIMs/OTHER B-SCHOOLS FOR THE LAST YEAR/THIS YEAR IIM Kozhikode (last year) There is a 2 stage process of selection Stage1 A basic short listing done on the basis of percentile cut-offs in CAT is given below QA GEN SC/ST Stage2 In stage 2, an index score is computed with 50% weight for the overall CAT score, 20% weight for academic performance in secondary school, 20% weight for higher secondary school and 10% weight for the Work Experience of the candidate. The academic performance
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