Using Software And Its Integration With Regular Cost...

Reports produced by an ABC system contain information, such as product margins, that vary from the information reported for a traditional cost method. It’s also possible that some activity-based costs may be irrelevant in certain decision-making scenarios; for example, ABC does not conform to accounting standards and should not be used for external reporting. Since traditional cost figures tend to be the norm, interpreting ABC data along with regular accounting information can be confusing and lead to bad decision-making. The use of software can streamline the process of maintaining an ABC system and simplify its integration with regular cost accounting information. (Eileen, nd.) Even for smaller businesses, the implementation of an activity-based costing system can be a substantial undertaking. The added precision of the activity-based system can only be achieved if the small business owner is willing to put in the time to analyse the manufacturing process with enough detail to determine how overhead costs are incurred. Due to the difficulty of implementation, many small business owners don t believe the benefit of an activity-based system outweighs the costs. (John, nd.) Other than ABC, balanced scorecard is also design for the change of the management accounting. According to Olve and Sjà ¨ostrand (2002) a balanced scorecard is a format for describing activities of an organisation through a number of measures for four perspectives: financial, customer, internal processShow MoreRelatedThe Adoption Of Cloud AIS1734 Words   |  7 Pagesof cloud based accounting information system in business I. 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