In part three, the final post of this series, we will complete our conversation with the final four MMAS Standards of the Key Elements of Material Management and Accounting System Compliance Audits. We will highlight how to maintain consistent, accurate, and adequate controls to ensure your project manufacturing business can remain compliant. We will focus on Material Costing and Borrow Paybacks, Inventory Allocation for Common Inventory and Commingled Inventory, Compliance and the Consequences of Non-Compliance.
What if I told you that everything you learned in school was wrong.. Ok, not everything but most things as it relates to accounting in manufacturing. Let's dive into the three most common myths people have about accounting in manufacturing - myths that, often throw your business off balance and create major problems.
Inventory is an asset
Direct labor is consistent
Making (or Buying) more...
In our second installment of our three-part series on “Why now is the best time to migrate to Deltek Costpoint,” we discussed the technology behind GCS Premier and the greater reporting and customization offered by switching to Costpoint.
Previous Post: Why now is the best time to migrate to Deltek Costpoint – Part 2 Insight
Now, we will discuss our final benefit gained by switching from GCS to...