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Question: Discuss About The Engagement Activities Redesign Initiatives? Answer: Introduction The Time-Driven Activity Based Costing System (TDABC) is a modern budgeting system that aims to simplify the entire process of costing. This particular study aims to focus on evaluating the suitability of the Time-Driven Activity Based Costing System from the perspective of a graduate consultant, who has been employed in a management consultancy firm. The particular assumption that has been undertaken is one of the major clients of the firm has been Boral Limited. Boral Limited is one of the top manufacturing firms of the nation (French 2016). The suitability of the Time-Driven Activity Based Costing System (TDABC) has been assessed in terms with the Boral Limited. The inner business operations of Boral Limited have been aimed to have an overview into. Next, the concepts and features of TDABC have also been discussed. The final step involves the ascertainment of the fact whether the TDABC is suitable for Boral Limited or not (ker and Ad?gzel 2016). Description of Boral Limited The name Boral Limited is much well-known as it is a multinational company. The company deals in the manufacture and supply of iron and other construction materials. The conglomerate is based out of Australia and has extended its business operations in USA as well as in Asia. In 2017, the total sales revenue of the organization has been amounted up to 4.39 billion AUD. The total employee count of the organization has been 16,000. The operating sites of the company have been 700, approximately. The names of the segregated divisions of the organization have been Boral Australia, Boral North America and USG Boral. The management of Boral Limited has chosen to implement TDABC in the organization. The organization manufactures a number of products like asphalt, quarry and concrete, bricks, masonry, softwood and hardwood. Time-Driven Activity Based Costing (TDABC) its concepts and features The Time-Driven Activity-Based Costing has been found out to be laden with a number of issues. For the purpose of overcoming these issues, the TDABC system of costing has been developed. In comparison to the activity based costing this particular system of costing has been found out to be simpler and cheaper. The model of TDABC is useful in apportioning the costs of resources to the cost objects. This has been particularly carried out with the help of an improved framework that essentially requires two groups of estimates (Parekh 2016). The fundamental features of TDABC can be listed down as follows: The particular costs that are associated with the resource costs are accurately computed by the TDABC. To understand this more clearly, a department of Boral Australia has been taken into consideration. The department primarily deals in the orders that are placed by the customers. Now, the system of the TDABC accurately determines the costs of the resources like the occupancy, supervision, resource personnel and equipment that is acquired for the process of production. The costing system also incorporates the segregation of the total cost by the time that is available to the workers in the department for arriving at the rate of cost capacity (McLaughlin 2014). TDABC system has been associated with the utilization of the capacity cost rate to link the resource costs with the particular cost objects. This is essentially executed with the projection of the demand in regards to the resource capacity. The considered department of the organization in implementing the TDABC has to determine the time that will be taken to process the order of the customer. However, it has to be noted here that it is not at all mandatory for the system to match the order of the customers. The system permits the estimated time to vary in accordance to the different demands by the different customers. The order may be in the nature of manual or automated orders like the expedited orders, global orders, orders related to fragile products and new customer orders. Therefore, the simulation of the essential procedures is executed by the system which results in the smooth flowing of work across the organization. The TDABC system can also capacitate the high-level complica tions and variations in relation to the estimation of the data and processing or storage capacities (Akhavan, Ward and Bozic 2016). Differences between TDABC, activity based costing and traditional costing systems Robert Kaplan had developed the TDABC and ABC systems of costing in the year of 1890. It had been ascertained that the conventional system of costing is not effective enough to distribute the costs among the different heads and has effectively failed to identify the profitable customers. Such a drawback gave rise to the models of TDABC and ABC costing. It should be noted here that both TDC and ABC costing leads to the accurate calculation of the whole profitability of the customer. This would further benefit the firms by the gathering of the potentially correct information through the realization of the cost drivers (Thaker, Frank and Feeley 2015). Traditional Costing System Numerous organizations make use of the traditional costing system in the recent times. This involves the allocation of the manufacturing overheads in accordance to the units produced. The traditional costing system essentially believes that the volume metric is the major cost driver that is associated with the manufacturing overhead. This particular system involves the cost accountants allocating the manufacturing costs in regards to, only the products. The traditional method of costing does not take into consideration the non-manufacturing expenses that are related to the process of production of like the administrative expenses. The traditional costing system will soon become obsolete and as the organization using them have resorted to computers and machines for ensuring optimum production. This is because the computers and machines that are being used are technologically improved to be used with the current system. This may lead to inaccurate results as the cost driver that has been selected is not at all appropriate. The traditional costing system does not take into account the different drivers of cost that has been used in that might be included in the total cost of a particular product (Hooze and Hansen 2014). Activity Based Costing The Activity based costing is a reliable costing system that gives a proper overview into the product cost. The particular bases that have been used for allocating the costs in this particular system is different than the bases that are used in the traditional costing system. The activity based costing essentially involves the identification of the different activities that are involved in the process of production of a particular product and associates these processes with different activity costs. The costs that have been allocated to the activities are next allocated to the products that are required for the overall production. The major benefit provided by the activity based costing is that it does take into account the product costs that are not relevant. However, ABC costing is an expensive and time-consuming system of costing (Siguenza-Guzman 2014). Time-Driven-Activity-Based Costing (TDABC) system: The TDABC system of costing has been a further developed version of ABC costing. This is because this particular system of costing provides certain benefits that are not provided by ABC costing (Inverso 2014). These benefits are as follows: The TDABC system works in association with the customer relationship management and enterprise resource planning The system can efficiently deal in a huge number of transactions in much less time The system also alerts the management of the organization about the unused resources This system of costing facilitates a look into the capacity in regards to the time units Appropriateness of TDABC to Boral Limited The conclusion that can be arrived at, after the comparative study between TDABC and two other models of costing, is that TDABC is the most appropriate costing method for Boral Limited. This is particularly because the TDABC costing system provides an overview into the efficiency rate of the capacities along with the capability of the organization to estimate the demand of the future resources. The firm has been facing extreme competition in relation to its fellow competitors. Thus, it is advisable that it reduces its cost of production. This system of costing also allows Boral to eliminate the costs that are irrelevant in nature. The TDABC costing system can also be applied to the online services. In case of other systems of costing, these benefits cannot be acquired. The administration of the organization can particularly benefit by analyzing the data related to costs, online. These may include higher indirect costs like website designing, research and development and other related services. But the per unit cost will always be lower. The management of the organization can also benefit by using the TDABC system by lowering the service cost that is incurred in facilitating the providence of online products like cement and lime. The TDABC system of costing would help the organization to develop its online services in a better way in comparison to the other systems of costing. The proper scrutiny of the overhead costs is also facilitated by this system as it provides detailed information into the activates that have been executed for providing the online services. The TDABC costing system also facilitates the service of transferring relevant and crucial information to the managers of the organization in a fast and cheaper way. The TDABC system does not depend on the nature of business for which it is being utilized and provides information that is cost effective. Therefore, Boral Limited should consider adopting the TDABC costing technique for reducing the production costs and ensuring increased dominance and revenue. Conclusion Thus, as it can be obtained from the discussion in the preceding paragraphs, the TDABC system of costing is a developed and highly suitable costing system. 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