New

Cost Accounting, RIP: Cost Accounting Is Opinion, Cash Flow Is Fact

Code: COST

Space is available, but online registration has closed. Please call 952-831-2707 to register.

Date Tuesday, April 24, 2018
Time 8:30am - 4:30pm
Central Time
Location Minnesota Society of CPAs
1650 W 82nd St Ste 600
Bloomington, MN 55431-1458
Map & directions
 
CPE credits CPE 8.0
Field(s)
of study
Accounting - Technical (8.0)
Instructor Ronald Baker
VeraSage Institute
Fees
Standard member fee $325.00
checkmarkStandard nonmember fee $375.00

Members: Please log in to receive member fee.

Description

Many organizations focus too much on cost accounting data and not enough on understanding the factors that influence the data. As a result, the numbers don't tell the true story, you lose touch with your operations and you risk making poorly informed business decisions. In this thought-provoking course, explore cutting-edge ideas related to cost accounting's deficiencies and the superior methods of cash flow and capacity modeling. Bring an open mind and dive into challenging, eye-opening conversations.

Who should take this program?

CPAs, controllers, CFOs, accountants and financial professionals in all sectors and industries

Major subjects

  • Why cost accounting is a bad practice
  • Cash flow and capacity modeling -- why they work better than cost accounting
  • The adaptive capacity model
  • Metrics vs. measurements
  • Segall's Law -- a person with one watch knows what time it is, but a person with two watches is never quite sure
  • How to use price-led costing and target costing

Learning objective(s)

  • Understand why modeling cash flow and capacity is superior to cost accounting
  • Understand the revolutionary adaptive capacity model
  • Understand how to use price-led costing and target costing

Notes:

Course code Code COST
Sponsor MNCPA
NASBA ID#: 139884
Level Basic
Format Group Live
Prerequisites Prereq. None
Advance
prep
None