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A fool with a tool is still a fool….
How true is that statement! I just returned from the National IMA (Institute of Management Accountants) conference in Las Vegas, Nevada. As usual, there were many captivating and educational sessions...
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How’s Your Level of Comfort?
I have been told by many marketing people that “unless people are uncomfortable with their current product, service, etc, they don’t care about what you have to offer. Your “sales” job is to increase...
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The Components of a Successful Job Costing Model: Part Two – Segregating Costs
As mentioned in my previous blog, when preparing a cost model in today’s manufacturing environment, there are several key steps that should be followed to have an effective, comprehensive and accurate...
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The Difference Between Genius And Stupidity Is That Genius Has Its Limits
This may come off has harsh, however it is true. I was holding a conversation with someone yesterday, (I will refer to her as “Sarah”) who was talking about a mutual friend who owns a business. The...
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Post Production Costs
I had a conversation yesterday with the Senior VP of one of my largest clients and we talked about several items related to their job costing system. One of the items that came up during this...
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A Distorted Costing Reality
Recently I was speaking to a CEO who presented me with the facts related to a new process that they are developing. This process is unique in the industry and involves some research and development as...
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What Is The Primary Reason To Understand Your Product Cost?
I can answer that with one succinct statement: knowing your product cost is not so important for setting a price as it is to manage your costs for operational purposes. Cost based pricing has many...
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It’s Engineering’s Fault . . .
Have you ever heard someone say this phrase? Regardless of which side of the fence you are on (the accountant or the engineer), there is likely some truth to that comment. When we ultimately discover...
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Job Costing In The Service Industry
Most of our assignments in job costing relate to manufacturing companies and assisting them in getting their job cost systems in order. In many of those businesses, a large portion of their product...
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Outdated Cost System Impacting Profitability
A few weeks ago, I met with a potential new client regarding a costing matter related to their manufacturing company. The company had been in business for number of years and was profitable, but not...
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