Product costing systems: Finding the right approach
Article first published online: 21 FEB 2012
© 2012 Wiley Periodicals, Inc.
Journal of Corporate Accounting & Finance
Volume 23, Issue 3, pages 43–51, March/April 2012
How to Cite
Fisher, J. G. and Krumwiede, K. (2012), Product costing systems: Finding the right approach. J. Corp. Acct. Fin., 23: 43–51. doi: 10.1002/jcaf.21752
- Issue published online: 21 FEB 2012
- Article first published online: 21 FEB 2012
- Cited By
Many product costing methods and systems exist, but having the right costing system for a given situation can be difficult. This article identifies four key questions to answer and points out the advantages and disadvantages of various cost systems to find the right balance of convenience, correctness, and implementation costs in a product costing system. Nestlé, for example, discovered that good product management, aided by better cost systems, can pay major dividends. © 2012 Wiley Periodicals, Inc.