Abstract: A method of temporal, activity-based cost modeling for an organization is provided. The method includes the steps of (a) determining a plurality of data types contributing to costs related to one or more activities of the organization; (b) capturing data elements corresponding to the data types; (c) Creating an ontological enterprise model based on the data elements, by applying a Temporal Activity Based Costing Model to the organization; testing the applicability of the Temporal Activity Based Costing Model to the organization; and adjusting the Temporal Activity Based Costing Model to the organization, based on the testing; and (d) configuring a computer system to apply the ontological enterprise model to the data elements on an ongoing basis, such that the ontological enterprise model yields information about the costs of the activities for defined periods of time. The method enables derivation of cost knowledge from the cost information, by operation of a profit knowledge utility.