Cost standard system updating

Waste stays in the tank long enough for solids to settle out as sludge and for grease and oils to float to the surface as scum.

Specially designed outlets in the tank hold back sludge and scum, while allowing the relatively clear middle layer — known as effluent — to enter the drain field.

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What seems worthwhile should be retained, what is worthless should be rejected, and what needs changing should be adapted to the needs of the readers and their organizations.

Thanks are in order to Tony Gambino, who accepted our article, Updating Standard Cost Systems, for the Journal of Accountancy as well as some earlier work in the cost management area.

Many complex systems nowadays can cost billions of dollars to acquire, take decades to develop and will last several more decades in service, needing constant repair and support.

Can a point estimate at the beginning of a big acquisition program stand the test of time?

However, we believe the material provides a starting point for accountants and managers who struggle with the effect of advanced technologies on their firms' cost accounting procedures.

The academic world in which we function is less of an ivory tower than some would believe.

Microbes in the soil digest or remove most contaminants from waste water before it reaches groundwater.

In recent years standard cost systems have been criticized by many theorists.

Septic systems are like miniature waste treatment plants.

They’re most common in rural areas, where public sewer access is not readily available.

Traditional standard cost systems came out of the production-driven past, when favorable price and efficiency variances were achieved through large volumes of material and intensive labor.

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