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Your Cost System Warning Label. What Does It Say?
I was looking around LinkedIn this morning and I came across a really interesting graphic that read “if we were all forced to wear a warning label, what would yours say?” What a thought provoking...
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The Dreaded Audit
Even though my primary focus is cost accounting, I still prepare a number of income tax returns for my compliance clients I find difficult to let go. However, I do not participate in any audits....
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Does Your Costing System Have Purpose?
I recently read an article where the author discussed how contemporary American businesses focus their energy on the type of cost system being utilized rather than the purpose of the costing system. He...
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Where Does Costing Fall On Your Priority List?
I was reading an article the other day by someone with who I am acquainted. It was a really interesting article about the benefits of the IMA (Institute of Management Accountants). The author wrote...
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Is Your Costing System in Code?
I was looking around LinkedIn this morning to see what topics were popular and to get some ideas about what to write. Today is my birthday, but I figured you didn’t want to hear my life story. Instead,...
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What Type of CFO/Controller Are You?
Over the last few years, I have worked on a large number of costing assignments and spoke with many CFOs, controllers, and cost managers of medium to large sized companies about their costing issues....
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GAAP and Inventory
We were recently called in to consult with an accounting firm on a costing issue involving one of their manufacturing client’s. This firm is located out West and had a manufacturing client in the...
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What Happened to Variance Analysis
A few weeks ago I was talking to a CFO of a publicly traded company about the evolution of cost accounting. We were specifically talking about the change associated with variances. We discussed how...
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Two Identical Lines, Two Different Prices?
We have all run into a similar situation: You are at a store where an item costs $20, and then you go to another store where the same item costs $35. The same can be found in a manufacturing...
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The Costing Value Proposition
I was recently with a group of other accounting professionals at a conference for LEA http://www.leadingedgealliance.com/. During a meeting specifically for accountants involved in manufacturing, we...
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