Activity-based costing, or ABC, is a costing method that managers can use for internal cost...
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Accounting
Activity-based costing, or ABC, is a costing method that managers can use for internal cost reporting and decision making. While ABC isn't allowed for external financial reporting, companies may find it useful to enact an ABC system to more effectively analyze cost data. ABC systems excel at being able to assign costs to products that are manufactured and supported by many different types of activities.
Question is, would this be very expensive? And, is there a lot of training involved?
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