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Topic: accurate costs

3 Ways Accurate Costing Really Impacts Your Business

Regardless of the size of a business or where it chooses to operate, one necessity remains constant, and that’s the need for accurate costing. ... Read More

  December 16, 2019     

The Challenges of Accurately Calculating Inventory Costs

Accurately calculating inventory costs can be problematic for many businesses. Regardless of the industry you operate in, inventory is often an organisations largest asset and accounts for a significant portion of the business expense account. Therefore, it is essential for companies to accurately assess factors affecting inventory management to he ... Read More

  September 22, 2017     

Accurate Costing for a Profitable Business

Accurate costing of your products can aid you in making well-informed decisions. Business costs must be accurate for several reasons, which we shall explore a little more in this article. Sales and budgeting Firstly, sales prices must be set accurately to ensure that firstly the company makes a profit, and secondly that they make the […] ... Read More

  August 4, 2017     

Accurate Inventory Costing: Why It’s Critical for Success

For most stock-based businesses, inventory is likely to be the business’ biggest asset. Even if a business has some other, high value, assets such as factory plant, inventory is likely to be essential to the business’ ability to trade profitably. Because inventory is so critical to a business’ success, it is useful for business owners [&helli ... Read More

  July 4, 2017     

Why Accurate Costing is Vital for Success

Inaccurate information about your company’s expenditure can greatly inhibit your capacity to make and maintain a successful business. Accurate costing information enables managers to measure profit, so that they can make the best decisions for the company’s future. Below, we summarize precisely why accurate costing is so crucial to the success ... Read More

  June 14, 2017