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• W1569160060 abstract "ABSTRACT This paper discusses cost accounting and its multiple uses in a governmental setting. The paper includes discussions about the applicability of cost data for outsourcing decisions, measuring efficiency, performance appraisal, auditing, and allocation of scare resources. The paper then discusses the implementation of cost accounting. The paper argues that there are multiple, valuable uses for cost data in governmental settings. All too often the financial accounting function including the financial statement preparation receives much more attention than the cost accounting function. It is easy to justify an expense for financial statement preparation because it is required by external forces. For example, GASB 34 on capitalizing infrastructure, there is no question that it will be done and get done. Resources will be expended to comply. Try selling the importance of cost accounting in a governmental setting. Expenses for improvements to the cost accounting system are all too often deferred. However, cost accounting information can be more important for the long run survival of the governmental unit than financial accounting. Costs can become so out of hand that one day you show up to work and find you have been outsourced; and you didn't even have the chance to reduce your cost structure to avoid the outsource. INTRODUCTION Cost accounting, in its simplest form, is knowing how much something costs. For example, a city knowing how much it costs to make a photocopy, to book an inmate to the jail, to build a stadium, or for a round of golf at the municipal course. In the following sections we argue that cost accounting information is helpful for outsourcing decisions, measuring efficiency, performance appraisal, auditing, and allocation of scare resources. We also provide a discussion on the implementation of cost accounting. OUTSOURCING DECISIONS Outsourcing is the term used for contracting out services that were previously performed in house. Outsourcing is a popular and controversial topic these days. The private sector is increasingly taking over public sector activities. Whether we like it or not, outsourcing is increasing. Governmental units are outsourcing education, ambulance services, repair and maintenance services, garbage pickup, landfills, and food services among other things. In the private sector, BP Amoco just outsourced their accounting function to PricewaterhouseCoopers for $1.1 billion. If you are in charge of a governmental service, how will you respond when the city manager/mayor/city council suggests outsourcing your service? It could be the print shop, the fire fighting, ambulance services, police, auditing, accounting, etc. You may be thinking that fire and police would never be outsourced. Would you ever have thought BP Amoco would have outsourced its accounting function? Note the services the military outsources today that they would not have considered outsourcing several years ago. Services such as food, engineering, base security, research and development, and repair and maintenance are contracted out today. Do governmental units have the cost information they need to determine which is the better value, outsource versus in house? It may be cheaper, it may not. The governmental accountants and auditors need to be ready with the costs of their own departments to protect their own positions. There may not be pressure today to outsource because the economy is good and cost cutting is not a major issue, but what if there is a dip in the economy? Are you ready to respond? MEASURING EFFICIENCY Prior to 1992 the city of Indianapolis experienced deficits with increasing expenditures. In 1992 the new mayor pledged to reduce the size of government, hold taxes, and re-invest in the city's infrastructure (Cooper & Kaplan, 1999, p. 48). The mayor noted that while the private sector attempts to improve services while reducing costs to stay competitive and remain in business, the public sector generally spends more money each year without necessarily increasing service or quality. …" @default.
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• W1569160060 title "Cost Accounting: Does It Apply to Government?" @default.
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