Barcoding: Are There Pitfalls?
At our last cost forum, we had an attendee who was working on implementing bar-coding in their manufacturing facility. Everyone is familiar with a barcode reader, as they are used when shopping at the...
View ArticleIs the Additional Time and Effort Worth It?
There have been many occasions in my career when I’ve had conversations with CFOs or CEOs concerning the state of their cost systems. These conversations are usually aimed at talking about the time...
View ArticleDo 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...
View ArticleMarginal 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...
View ArticleSame 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,...
View ArticleSame 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...
View ArticleSometimes The “Best” is Not Always the Most Suitable
Recently I got a call from a potential client concerned about the accuracy and usefulness of their existing cost system. This potential client knew that there were fundamental changes in their...
View ArticleWhat 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...
View ArticleWhy is Costing Always Last?
I recently met with a potential client to discuss the current state of their costing system. There were numerous problems associated with the system and most of the management team had learned to stop...
View ArticleGeneral 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...
View ArticleMy 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...
View ArticleIt’s Beginning To Look A Lot Like . . . Cost Revision Time
This time of year everywhere you go and practically everything you hear is related to the holiday season. For some, the hustle and bustle of the holidays are filled with excitement and for others, its...
View ArticleThe Evolution of Costing and What Does It Mean For The Future?
One of the topics frequently brought up in my conversations with cost managers is the delayed conversion by today’s manufacturers to alternative costing methods. There seems to be a general lack of...
View ArticleYour Manufacturing Standards And Costs: To Change Or Not To Change?
One re-occurring topic at our cost forums and other seminars involves the frequency in which standards and costs should be changed. I believe this is really a two-part question. The first part should...
View ArticleYour 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...
View ArticleWhat 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...
View ArticleWhere 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...
View ArticleIs 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,...
View ArticleEstablishing Order in Your Cost System
I was having lunch the other day with an old friend who is a CFO for a manufacturing company in northwestern Ohio. He has extensive job costing experience with a number of different manufacturers and...
View ArticleEmbracing Costing Innovation & Change
This past week, I spoke to a number of people about costing. They all felt quite confident about their costs based solely on the fact that it is the way in which they have ALWAYS determined costs! When...
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