Brian O’Kane: Pioneering Property Development in Calgary

 

To know more, click the link below:

https://www.youtube.com/@brian-o-kane

https://www.facebook.com/okane615


Comments

Post a Comment

Popular posts from this blog

Choosing the Right Costing Method: Activity-Based Costing vs. Traditional Costing

Costing systems play a critical role in how businesses measure expenses, allocate resources, and set prices. Two of the most commonly used approaches are Activity-Based Costing (ABC) and Traditional Costing. While both serve the purpose of assigning costs to products or services, they differ significantly in methodology and accuracy. Understanding these differences is essential for managers who want to improve profitability and efficiency. Understanding Traditional Costing Traditional costing is the older and more straightforward approach. It typically assigns overhead costs based on a single cost driver, such as direct labor hours or machine hours. The assumption is that production volume is the main factor driving costs. For example, if one product requires twice as many labor hours as another, it will absorb twice as much overhead. This system works well in industries where overhead is relatively small, and production processes are uniform. However, in modern business environment...
Read more

Unlocking Business Success by Breaking Down Fixed and Variable Costs

Every business strives to improve profitability and make smarter financial decisions . To achieve this, understanding how costs behave is vital. Costs typically fall into two categories: fixed and variable. Distinguishing between these types reveals how expenses change with production or sales levels. This knowledge empowers business owners and managers to plan more effectively, control spending, and optimize pricing strategies to maximize profits. Understanding Fixed Costs and Their Predictability Fixed costs are expenses that remain constant regardless of changes in production volume or sales. These costs remain the same irrespective of the company's production volume. Examples include rent, salaries of full-time employees, insurance, and loan payments. Because these costs are consistent, they create a baseline expense that businesses must cover to stay operational. This predictability makes fixed costs easier to plan for, as companies can anticipate these payments on a monthly o...
Read more

Dollars with Direction: How Cost Accounting Keeps Budgets on Track

Why Budgeting Alone Isn’t Enough Creating a budget is a crucial step for any organization aiming to manage its finances, but it’s only the beginning. A budget sets expectations—it estimates how much a business will earn and spend over a period. Yet, what really determines whether those financial goals are met is how well the organization tracks , analyzes, and responds to actual spending. That’s where cost accounting becomes a game-changer. Budgeting provides the “what,” but cost accounting supplies the “why” and “how.” It translates raw spending into meaningful insights, ensuring that financial planning is not just aspirational but executable. Most businesses run into the same challenge: unexpected expenses, underestimated project costs, or departments that consistently overspend. Without a system to monitor these deviations and reveal their sources, organizations risk financial inefficiency or worse—operational instability. Budgeting sets the rails; cost accounting ensures you don’t ...
Read more