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Society of Cost Management

Category Archives: Standard Cost

PROFESSIONAL DEVELOPMENT SPOTLIGHT: Cost Accounting

Posted on by Michael Fournier

A number of times we have mentioned the importance of learning the historical development of Cost Accounting. If you haven’t had a chance, read over our page: http://costmgmt.org/resources/history-of-cost-accounting/, many of the concepts, like proper overhead allocation, are not new, they … Read More >

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Prelude to “TOTAL COST”: Standard Cost

Posted on by Michael Fournier

Many of the current texts on Cost and Management Accounting treat Standard Cost as a failed methodology that they want to avoid talking about.  Some texts skip over it completely, favoring instead ABC and ABM methodologies.  But the fact of … Read More >

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Standard Costing and its Role in the Bundled Payments for Care Improvement Initiative

Posted on by Michael Fournier

By Dean D. Baker, Director of Quantalyst Consulting, LLC. www.quantalyst.com With the advent of the Affordable Care Act, a number of new tools are under consideration to improve health care quality and to lower costs. One promising initiative spearheaded by … Read More >

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FISHING FROM THE FANTAIL: A Preference for Historical Based Standards

Posted on by Michael Fournier

Robert Page is a Cost Accounting Professional in the Rochester, New York area. For any readers not familiar with the nautical use of the noun “fantail,” Merriam-Webster’s fourth definition describes it as the “after overhang of a ship, shaped like … Read More >

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Standard Cost

Posted on by Michael Fournier

In our continuing series on standard cost, Society of Cost Management Founder, Mike Fournier discusses how standard cost came about and why it became popular as a costing methodology. Mike is Sr. Cost Accountant at HDT Airborne in Santa Ana, … Read More >

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