METHODS OF COST CALCULATION AND PRODUCT COSTING IN THE FIELD OF INFORMATION AND INTERNET TECHNOLOGIES
Journal Title: Ancient Land - Year 2024, Vol 6, Issue 3
Abstract
Abstract In the realm of information and Internet technologies (IT), the computation of costs and the determination of product costs are fundamental components of financial management. Diverse techniques are used to precisely ascertain expenses and distribute them across items or services. Activity-based costing (ABC) is a frequently used approach that entails the identification of individual activities inside an organization, the allocation of costs to these activities, and then assigning costs to products based on their utilization of these activities. This approach offers a more precise representation of expenses in contrast to conventional costing methodologies. The total cost of ownership (TCO) strategy is another way used in IT. Total Cost of Ownership (TCO) encompasses both the initial acquisition cost of IT assets and the continuous expenditures associated with maintenance, support, and training during the full lifespan of the system. This holistic perspective enables firms to make well-informed choices on investments in information technology and evaluate the actual cost implications. The advent of cloud computing has also brought out novel approaches to cost calculation, including pay-as-you-go and subscription-based models. These models enable firms to adjust the size of their IT resources based on their need and only pay for the amount they use, therefore minimizing initial expenses and offering adaptability. In summary, the domain of information and Internet technologies use several cost calculation techniques, including Activity-Based Costing (ABC), Total Cost of Ownership (TCO), cloud-based models, and Activity-Based Modeling (ABM).
Authors and Affiliations
Davud Abdullayev
Keywords
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- EP ID EP748960
- DOI 10.36719/2706-6185/33/202-206
- Views 57
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