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Methodology
Profectus provides the comprehensive
Cost Accounting consulting solution using a tested and proven
approach.
One of Profectus' expert consultants will conduct a series of on site meetings
and interviews with your team to evaluate your costing practices.
When the on site analysis of your
costing practices is complete, the
consultant will write a detail findings report containing
recommendations for embracing best practices, streamlining
cost accounting processes, and maximizing the capabilities of your
management system for capturing and reporting costs.
Our recommendations are backed by first hand
exposure to hundreds of printing
organizations and situations, and our extensive industry
experience in management, production, operations, technologies, and
systems.
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Profectus' Cost Accounting consulting
includes a complete
analysis of the following: |
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Cost accounting and invoicing practices,
processes, procedures, and workflow |
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Accounting and invoicing department structure
and the responsibilities of management, job costing staff, and others involved with the cost accounting
and invoicing processes |
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Cost accounting and invoicing forms, reports,
documents, and other related communications means including production time cards, job cost reports,
estimated verses actual reports, invoices, and work-in-process reports. |
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Communicating job information to the billing
department, identifying and tracking jobs ready to bill, billing turnaround cycles, establishing the job
bill price, and preparing bill/invoice documentation. |
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Accuracy of capturing labor and equipment
time, material transactions, production counts, and other cost information |
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Accuracy of capturing chargeable and
non-chargeable production activities, labor hours, product quantities, good and bad material
consumption, and costs. |
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Methods of analyzing and measuring individual
job costs and profitability including auditing captured data, identifying missing information, editing
or making corrections, and closing out jobs. |
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The utilization of information technology and
the internet for collecting job costs and invoicing customers including the setup of cost centers,
operation/process codes, and shop floor data collection |
Hourly Cost Rates Preparation
Profectus can prepare a budgeted hourly costs analysis of all of
your equipment and labor activities. Our approach distributes 100 percent of your expenses among your cost
centers so that your costs are accurately absorbed in your estimates, actual costs, and pricing.
You receive detail reports of your hourly cost
rates and the information to support our analysis. The reports provide a breakdown of your cost data and
budgeted hourly cost rates based on various productivity levels for each piece of equipment. The reports
identify the distribution of the following expenses:
- Indirect costs
- Direct costs
- Manufacturing Costs
- All inclusive costs
- Gross and net production hours
- Productivity levels
- Cost per productive hour
- and more
You also receive the Budgeted Hourly Rates Software used
by Profectus to develop your hourly cost rates so you can update your hourly cost rates to reflect future
changes without the assistance of Profectus.
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