|
Showing 1 - 1 of
1 matches in All Departments
Although there are numerous books on alternative accounting
methods, such as Lean accounting, none focus on the impact of time
and how accounting practices can be modified to acknowledge the
power of time. This book addresses this need. The Monetary Value of
Time: Why Traditional Accounting Systems Make Customers Wait
presents a framework for assessing the value of time in terms of
organizational strategy and competitive advantage. The framework
presented will enable organizations to develop consistent measures
and ensure that their cost accounting system isn't motivating
behaviors that add to lead time and make customers wait. The
framework outlined in this book is relevant to the managerial and
cost accounting practices in today's manufacturing environment,
which is increasingly moving away from mass production to custom
manufacturing. The framework is supported by high-level metrics,
which are reinforced by operational metrics. This is supported by
accounting data that recognize the value of time. Pricing models
that incorporate the concept of time are presented. The book
provides many examples of how the use of standard costing and
traditional accounting practices in a high-mix/low-volume
production environment can produce contradictory or even inaccurate
results that form the basis for poor decisions that may actually
move your organization farther from its objectives. The book arms
readers with options for overcoming traditional barriers by
applying direct costs at an item level, while applying overheads at
a macro or value stream level. For example, while GAAP requires
overhead application for inventory valuation, a common
misconception is that overhead must be applied at an item level. In
fact, overhead can be absorbed by one journal entry. Demonstrating
the linkages between time-based accounting data and meaningful
business metrics that drive bottom line results, the book presents
methods and metrics that have been successfully applied by the
author in manufacturing environments.
|
You may like...
Hampstead
Diane Keaton, Brendan Gleeson, …
DVD
R66
Discovery Miles 660
Southpaw
Jake Gyllenhaal, Forest Whitaker, …
DVD
R99
R24
Discovery Miles 240
|
Email address subscribed successfully.
A activation email has been sent to you.
Please click the link in that email to activate your subscription.