ABC Method
Definition
Simply another name for Activity-Based Costing
Example
Example 1:
An accountant at a Lagos manufacturing firm refers to the ABC Method in his report,he simply means Activity-Based Costing, the system used to track exactly where the company’s money is being spent.
Example 2:
A finance professor in New York tells his students to read up on the ABC Method, he’s referring them directly to Activity-Based Costing, a popular cost management strategy used by major firms like Amazon.