The Controller's Manual for Overheads, Direct and Indirect Costs, and their Allocation Methods 1 Credit
The Controllership Series
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Managing expenses is key for business success, and overhead costs play a pivotal role in realizing favorable profit margins. Almost all companies have some form of overhead consisting of specific categories of indirect expenses. The better organizations can manage overhead costs, the more competitive they are in the marketplace. It is incumbent in the Controller's role to effectively manage, monitor, and perform an ongoing assessment of overhead costs, allocations, and rates.
Overhead refers to the ongoing business expenses not directly attributed to creating a product or service. A company must pay overhead on an ongoing basis, regardless of how much or how little the company sells. It is important for budgeting purposes but also for determining how much a company must charge for its products or services to make a profit.
Overhead can be fixed, variable, or a hybrid of both. There are different categories of overhead, such as administrative overhead, which includes costs related to managing a business. In short, overhead is an expense incurred to support the business while not being directly related to a specific product or service.
Join this CPE/CPD course of our controllership series with Lynn Fountain to discuss everything about Overhead, Direct, and Indirect Costs along with their allocation methods.
Major topics discussed in this CPE Accounting Webinar:
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Lynn Fountain has over 39 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.
Ms. Fountain is currently engaged in her own consulting and training practice. She has successfully executed on several consulting assignments spanning areas of accounting, risk, ERM and internal audit. She is a highly sought-after trainer and international speaker and has produced hundreds of courses delivered through seminars, conferences and on-demand training. She is the author of three separate technical books.
Ms.
Fountain obtained her BSBA from Pittsburg State University and her MBA from
Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.
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AB
Webinar on Overhead Allocation and Activity Based Costing and Controller responsibility in Allocating the overhead Costs and minimizing the overall cost by variance analysis and budgetary control and GAAP reporting is very important to learn as a Controller
NV
The overall learning experience was great. The platform worked well, and the presenter was knowledgeable, and clear in her presentation. Thank you!
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