The authors showed how the ABC application was used in the construction industry, comparing three types of rebar used for specific construction projects. It was shown that the company had undercosted two of the types of rebar, while the third type of rebar was overcosted. With this example in mind, consider the following issues.
Why is the ABC described in the reading, unacceptable for external financial reports?
In what fundamental ways does ABC differ from traditional costing methods, such as those described?
Why are top management support and cross-functional involvement crucial when attempting to implement an ABC system?
As you read your peers' posts, check to see if they came up with different answers from your own. Ask for clarification to resolve the differences. Provide explanations for how you arrived at your conclusions. Cite the textbook when necessary, providing page numbers.
You were asked to access a number of videos and websites. These are great resources to help you learn the materials this week. Consider what type of resource you find most helpful in learning new materials (videos, examples, text, etc). Then consider which topic you struggled with the most this week. Complete an online search for a new resource that will help you with that topic. For example, if you learn best from videos and you struggled with the topic double entry accounting, then complete an online search for "double entry accounting videos". If you learn best by examples, search for "double entry accounting examples". Select one of the items you find in your search that you found particularly helpful in learning the topic you struggled with the most and post a summary of the resource and a link to the resource.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.