Product costs in managerial accounting are those that are necessary to manufacture a product. Product costs equal the sum of your direct materials costs, direct labor costs and manufacturing overhead ...

Knowing where your company spends money gives you better control over its future. Cost center accounting identifies how areas of the company that don't generate profit but are needed to support those ...

Peter Gratton, Ph.D., is a New Orleans-based editor and professor with over 20 years of experience in investing, risk management, and public policy. Peter began covering markets at Multex (Reuters) ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...

Explore the fundamental concepts and techniques of management accounting with an emphasis on strategic planning, budgeting, cost-volume-profit analysis and decision-making in a competitive environment ...

A simple outline illustration of a calculator, piece of A4 paper, and a British Pound coin stacked together on a blue background. How do firms decide which products are profitable? How should managers ...