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Category Archives: Monitoring & Reporting
The Definition of Success
I recently received a phone call from a client who was a past attendee of one of our cost forums. When he attended, he was not a client! When he left the forum he was adamant that his company had no … Continue reading
Posted in Monitoring & Reporting, Performance Measurement
Tagged accountants in Toledo, accountants maumee, cost accounting, cost structure, cost structure analysis, cost structure of a company, cost structure of a firm, cpa toledo, impact on cost, maumee cpa firm, measuring performance, measuring profitability, william vaughan, William Vaughan Company
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Putting Forth the Effort DOES Pay Off in the End
As Bill mentioned in our previous post, we recently gave a seminar on the current trends in cost accounting. One of the attendees discussed how to determine the allocation of fixed overhead. He acknowledged that around 20% of his company’s … Continue reading
Posted in Monitoring & Reporting, Overhead Allocations
Tagged accountants in Toledo, accountants maumee, allocation of fixed overhead, calculate manufacturing overhead, calculating manufacturing overhead, cost accounting, cost management, cost to cost accounting, cpa firms maumee, definition of manufacturing overhead, manufacturing overhead allocation, monitoring & reporting, overhead allocation, overhead cost analysis, toledo cpa, variable overhead, variable overhead cost, william vaughan, William Vaughan Company
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Capacity Increases…So Costs Decrease??
Last week Tara and I presented an educational program to a group of business professionals on the subject of cost accounting and current trends in cost accounting. As always this was an interesting conversation with a number of participants bringing … Continue reading
Honesty Can Go Down Like a Jagged Pill
I recently read a blog post by Gary Cokins titled “Analytics Takes the Thumb Off the Scale.” In this post Gary talks about an article written by Eric Garland titled, “How So-Called Strategic Intelligence Actually Makes us Dumber.” This particular … Continue reading
Posted in Monitoring & Reporting
Tagged accountant in toledo, accurate reporting, business financial reporting, business leadership management, cpa toledo, good business decisions, good business leader, maumee cpa, maumee cpa firm, reporting and analysis, role of accounting and finance, tools for decision, william vaughan, William Vaughan Company
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“Financial Statements Don’t Mean Anything, No One Understands Them!”
This is a direct quote from Larry White, former IMA Chair, Director of the Resource Consumption Accounting Institute, and Chairman of the IMA’s Managerial Costing Conceptual Framework Task Force. He presented at the Spring Management Accounting Conference in Detroit a … Continue reading
Posted in Monitoring & Reporting
Tagged accountants in, accountants in maumee, accountants in Toledo, costing techniques, cpa firms toledo, financial statements, importance of financial statements, management accounting, management accounting change, management accounting guidelines, maumee cpa firm, responsibility of management accountant, significance of financial statements, william vaughan, William Vaughan Company
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Timing is Everything
I have been working with a client who one month has high profits, and then the next has losses. He is very perplexed as to why this is occurring and of course, to any financial institution, he appears volatile and … Continue reading
Posted in Monitoring & Reporting
Tagged accountants maumee, accountants toledo, accounting for inventory, company inventory system, cost accounting, cpa firms maumee, cpa firms toledo, effective filing system, inventory accounting systems, maumee cpa firm, order system, po purchase order, product costing, purchase of inventory, purchase order requisition, receiver report, toledo cpa, william vaughan, William Vaughan Company
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Worst Cost Accounting System I Ever Saw…
Very early on in my public accounting career I was given the assignment of a assisting a small closely held manufacturer. Not only did I facilitate their compliance work, but I also helped them improve their overall operations of the … Continue reading
Posted in Building the Cost System, Cost Drivers, Monitoring & Reporting, Reconciliation
Tagged advantages of cost accounting, cost accounting, cost accounting articles, cost accounting resources, cost accounting system, cost standards, costing methods, cpa toledo, importance of cost accounting, maumee cpa, standard cost variances, standard costing, william vaughan, William Vaughan Company cost forum
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Does your Cost Reporting Measure Up?
Occasionally cost forum attendees will ask what should I be measuring? My answer is, one of the best ways to measure a cost is to use a variance from an accepted standard of performance. This principle is one of the … Continue reading
Is this the end of Excel?
I sincerely hope I did not give anyone a coronary with my title. I’ll wait for you to put your glasses back on after taking them off to clean them to make sure you read the title correctly, and for … Continue reading
Yet another example of I am making money-all is fine-right?
One of our recent assignments related to job costing, concerns a manufacturer that was producing a relatively narrow line of products and had been very successful over the years by limiting their products to a niche that they thoroughly understood. … Continue reading
