Labor

January 25, 2019

(Myth-busting) 3 Common Accounting Myths in Manufacturing

by Colin Quinn

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 reduces per-unit costs Myth No. 1 – Inventory is an Asset…