Cost Accounting Maryland

Cost accounting is the accounting process of recording, tracking and analyzing the costs associated with an organization in Maryland. There are three basic approaches to cost accounting explains this site will explain all three in detail.


1. Local Companies

Baker Financial Services, LLC
(301) 630-7220
2134 N. Anvil Lane
Temple Hills, MD
Jeffrey Press, Inc.
800-533-5050
7106 Milford Industrial Road
Baltimore, MD
Alpha Financial Services
240-403-1291
1002 Copperstone Court
Rockville, MD
M.D. Oppenheim & Company, P.C.
(301) 585-7990
8403 Colesville Road
Silver Spring, MD
Benelogic
443 322 24 94
2118 Greenspring Drive
Timonium, MD
Ellis & Associates, CPA's PA
410-256-9298
8336 Belair Road
Baltimore, MD
Finac Associates
(301) 762-1310
14816 Physicians Lane
Rockville, MD
BUSINESS SERVICES
1-800-844-2951
211 EAST LOMBARD ST.
BALTIMORE, MD
M. Alexander & Associates, Inc.
301-248-2044
3004 Merva Court
Fort Washington, MD
Aronson & Company
(301) 231-6200
700 King Farm Boulevard
Rockville, MD


2. Cost Accounting - Info

Cost Accounting - Info An accountant who keeps records of the costs of production and distribution.

or

Cost accounting is the process of tracking, recording and analyzing costs associated with the activity of an organization, where cost is defined as 'required time or resources'. Costs are measured in units of currency by convention.

There are now at least three approaches: standard costing, activity-based costing (discussed here), and throughput accounting.

3. Fixed Cost

A cost that remains constant, regardless of any change in a company's activity.

A good example is a lease payment. If you are leasing a building at $2,000 per month, then you will pay that amount each month, no matter how well or how poorly the business is doing.

4. Origins

Costs were originally considered fixed (the term comes from a Latin root meaning "constant"). In larger organizations, some costs tend to remain the same even during busy periods, while others rise and fall with volume of work. A more convenient way of categorizing these costs is to define them as either fixed or variable. Fixed costs were associated with the business administration, and did not change during quiet or busy times. Variable costs were associated with productive work, and naturally rose and fell with business activity.

In the early twentieth century, as organizations began getting more complex, managers needed a simple way to make decisions about products and pricing. Since most costs at the time were variable, managers could simply total the variable costs for a product and use this as a rough guide for decision-making.

For example: In order to make a railway coach a company needed to buy $60 in raw materials and components, and pay 6 laborers $40 each: total variable costs of $300. If managers knew that making a coach required spending $300, then they couldn't sell below that level without losing money. Any price above $300 became a contribution to the fixed costs of the company (say $1000 per month for rent, insurance and owner's salary). So the company could sell 5 coaches for $3000 or 10 coaches for $4500 and make a profit of $1500 in both cases.

5. Featured Local Company

Sturn Wagner Lombardo & Company, LLC

410-263-4120
201 Defense Highway
Annapolis, MD
http://www.swlco.com

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