From the course: Activity-Based Costing
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ABC modeling tools
- When you were designing your ABC model, you might of been wondering how on Earth am I going to build this thing, and what tools are available. These are all fantastic questions by the way, and in my experience there are literally hundreds, maybe even thousands of tools that can support an ABC model, with some even talking directly with finance systems. I've seen Microsoft Access databases used before. Cognos is another product that I've seen successfully adopted. And what about Excel you might be thinking. Sure, Excel is both flexible and powerful, making it a great choice for building basic ABC models. In fact, I've seen several large and complex ABC models used in Excel for many years. So let's take a quick look at Excel, and if you'd like to follow along with me, open up Excel, and go ahead and create a new blank workbook. Now there are several versions of Excel, but I strongly recommend using Excel desktop, given it has the most amount of functionality and flexibility. As you…
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