The Most Suitable Costing Model for a Service - Research Paper Example

Primary data collection is crucial to derive comprehensive outcomes based on any study's desired objectives (Onwuegbuzie & Leech, 2007). Based on the determined objective, the population was selected from the Qatar University Centre for Entrepreneurship professionals. With the support of the target population, the study aims to reveal the percentage of the cost factors that the Centre for Entrepreneurship incurs annually to enhance its operation or performance. The survey, therefore, included a total of 34 academic staff, director of the Center, dean, associate dean, professor, associate professor, assistant professor, research assistant, teaching assistants and graduate teaching assistants, who have required knowledge on the costing method and the significance of implementing the same within the Centre, based on which they can provide an opinion regarding the questions.

Qatar University Centre for Entrepreneurship had established in 2013 as a part of the College of Business at Qatar University. The centre aimed to achieve the leading position in Qatar to assist the entrepreneurs in achieving their individual goals and to support the sustainability of small and medium enterprises. The Centre also assists the college and the university to achieve its mission through applied education, research and services (Qatar University, 2016). The university needs to determine the overall performance and enhancement of stakeholders' wealth and the costs factors.

Thus, the traditional costing is not appropriate for the centre, as it also needs to include service-related information and performance and implement decisions accordingly.Based on the conducted survey, it has been revealed that there are four major activities that Qatar University Centre for Entrepreneurship considers as activity resources namely training, research, consultation and incubation, which has been described in the following section. The reliable data acquired were based on respondents' feedback as per the budget of 2013-2014 to implement the ABC costing method.