Activity Based Costing

Activity Based Costing for Higher Education

Simitive ABC-HE (Activity Based Costing for HE) is being developed with extensive consultation with over a dozen University Finance Leaders:

It is a comprehensive planning, modelling and reporting tool specifically designed to meet regulatory and strategic reporting needs.
As all Simitive modules it integrates seamlessly with other University systems to remove the manual effort normally associated with Financial reporting.
The unique rules based Activity costing engine allows standardised parameters to be infinitely varied to meet detailed analysis and reporting needs within a controlled permission based environment.
It producers TRAC and TRAC(T) returns as required by the Office of Students.
Enables clear visibility of positive and negative contribution from activities.
Allows Leaders to better visualise the resource and cost implications for the delivery of programmes, modules and projects.

There is a significant reduction in the cost and effort associated with planning and producing reports like TRAC and TRAC(T).
There is significant increase in consistency, transparency and speed of accurate cost allocation.
Modelling enables year on year as well as future planning.
The relative contribution of activities is easily visible.
Past performance trends, current progress and future planning options are all simultaneously available.
There is a much clearer understanding of the resource and cost implications for programmes, modules and projects.
There is the clear ability to identify and deliver continuous improvement.