Cooper introduced and championed activity-based costing

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In 1987, H. Thomas Johnson and Robert S. Kaplan published Relevance Lost, describing ho management accounting systems had become obsolete. Conventional standard costing is particularly problematic for companies that adopt lean management. What in your opinion is the biggest problem with standard costing for lean management? In response to Relevance lost, Robert Kaplan and Robin Cooper introduced and championed activity-based costing (ABC) For those of you familiar with ABC, does ABC solve the problems of standard costing? Will ABC work for companies adopting lean management?

Reference no: EM131723058

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