Accounting Manufacturing Accounting – A Simple Guide Manufacturing accounting is an internal business management process that helps managers keep an eye on the fiscal performance of a manufacturing operation. This post looks at the basic processes that inform manufacturing accounting and defines its most relevant terms. By Mattias Turovski 15 min read
AccountingManufacturing TipsSales Job Order Costing in 6 Easy Steps Job order costing allows companies to allocate manufacturing costs to specific jobs, thereby helping them to give more accurate quotes, measure production efficiency, determine the profitability of specific jobs, and draw better budgets. By Madis Kuuse 10 min read
AccountingERPManufacturing Tips Product Costing in 7 Easy Steps Product costing is a necessity not only for accountants but also for managers. Understanding the costs related to manufacturing your products gives you the chance to determine optimal selling prices and take steps toward cost reduction. Here is a simple guide to performing product costing. By Madis Kuuse 8 min read
AccountingInventoryManufacturing Tips Inventory Valuation Methods – Finding the Right Approach For the financial departments of manufacturing companies, few things are as important as inventory valuation. Due to the effect on the gross profit of a company, choosing the right inventory valuation method is a crucial step in ensuring the financial health of your company. By Mattias Turovski 10 min read
AccountingManufacturing Tips Production Costs – A Simple Guide There are many metrics available for measuring the financial side of the manufacturing process. Whereas production managers mostly make do with the total manufacturing cost KPI, management and accounting often need a wider perspective. By Madis Kuuse 8 min read
AccountingManufacturing Tips What Is Manufacturing Overhead and How to Calculate It? Manufacturing overhead is comprised of indirect costs related to manufacturing products. It is an essential part of manufacturing accounting and as such, it should be one of the key factors in determining the prices of your products. By Madis Kuuse 6 min read
AccountingInventoryManufacturing Tips Inventory Costs – A Quick Overview Inventory costs make up a substantial part of any manufacturing or distributing company’s total expenses. To ensure the good financial health of your business, it is necessary to know how to make sense of these expenses and how to balance them. By Madis Kuuse 9 min read
AccountingERPManufacturing Tips What Is Job Costing and How to Do It? Job costing means tracking the costs related to individual orders. This allows accounting to measure the profitability of each project separately and to use it as a basis for customer quotes and financial planning. By Madis Kuuse 9 min read
AccountingManufacturing TipsProduction planning Capacity Planning – An Essential Guide for Manufacturers Capacity planning is a strategic process aimed at determining the production capacity required to meet forecasted demand. It is a prerequisite for efficient production scheduling, supply chain planning, and inventory management. By Karl H Lauri 17 min read