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Why Do I Need A Cost System?
I always welcome the opportunity to meet with new clients who are reviewing their current costing issues. I recently had lunch with the Controller and an owner of a very successful company....
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Top 11 Most Common Costing issues: Issue #8
Failure to see how the whole costing process fits together As part of our periodic cost forums, we get a chance to talk to cost managers from a wide variety of manufacturing companies both in diversity...
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Top 11 Most Common Costing issues: Issue #10
Failure to Implement All of the Capabilities of a New Computer System This is probably the most common problem we see in our day-to-day dealings with cost managers from all sizes of business. It is...
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Top 11 Most Common Costing issues: Issue #11
Have FAITH in the system! This misstep is one of, if not THE most common that we encounter in our cost forums, with potential new costing jobs, and even our own client base. Although it is primarily...
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Do Simple Costing Systems Really Exist?
This week, Tara and I were working on one of our relatively smaller manufacturing clients and reviewing their costing revision for 2013. We set up a cost system for this client a few years ago and this...
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Marginal Costing & Its Application
Recently I was talking to a CFO concerning costing methods that might work in his manufacturing plan. We talked about a number of systems and he brought up marginal costing. This CFO was relatively...
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Same Problems, a New Year!
Finance executives were asked to rank in order of importance their top priorities for 2014. There were five different categories with several details within each category. The first two categories,...
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Same As Last Year (SALY) Creeping Up Again?
I was talking to a CEO the other day who was talking about his machined controlled environment that uses labor to apply overhead. I imagine if I only gave you one guess you could probably guess as to...
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What a Markup!
I had the expensive privilege of going to Chicago for the weekend. I have been before several times – it is a fun and beautiful city! I think I had tourist sucker written all over me though with the...
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General Ledger Re-Classification Will Not Determine Your Cost
A few weeks ago I was talking to a CEO who was having difficulty with his costing system and he was looking to make improvements. He mostly wanted to be able to use the system to make management...
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My Costing System Software Cannot Do That!
I have worked with many companies and many different types of software systems over the years. One phrase I commonly hear is, “my system cannot do that”. Based on my experiences, systems are usually...
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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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What Do You Do When Your CEO Says No?
I was having lunch the other day with a CFO who is very versed in cost accounting. He spoke about some of the projects he would like to implement in order to create costing standards. He said his major...
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