Benefits of activity-based costing in the financial services industry

doi:N/A

eISSN: 1848-137X / ISSN: None

Journal of Cost Management

Volume 17, Issue 6 : 25-32

Research Article

Benefits of activity-based costing in the financial services industry

Davis Byerly

Eric Revell

Stan Davis

GE Capital Commercial Services, High Point, NC, United States; Truliant Federal Credit Union, Winston-Salem, NC, United States; Wake Forest's Babcock Grad Sch Mgmt., Winston-Salem, NC, United States; Babcock Grad. School of Management, Wake Forest University, Winston-Salem, NC, United States

Abstract

The major differences between traditional cost systems and ABC systems are reviewed and presented two cases of financial services organizations who had successful ABC systems implemented within the past decade. As such, five key takeaways emerge from the ABC experiences of these two financial services organizations. Yet, these two organization found the time and effort necessary to establish and maintain an ABC costing system beneficial for attaining accurate data for various decisions within the financial services industry.

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