IMA Decision Costing Four Pack
The Metro Detroit Chapter of the Institute of Management Accountants presents "A Decision Costing Four Pack" March 31, 2009. Four 1.5 CPE Hour sessions addressing 21st Century management accounting issues ...
IMA – Metro Detroit Chapter, March 31, 2009, Automation Alley – Troy, Michigan
PCS Consulting Partners Doug Hicks and Ravi Nayar present four 1.5 CPE hour sessions addressing 21st Century management accounting issues:?
- Designing Cost Systems That Work
- Performance Measurement and Management
- Pricing for Profitability – Because Cost Still Matters
- Accounting for the Lean Organization
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09:00a – 10:15am Designing Cost Systems That Work
Edward Deming once said, “Getting the first 15% of a process correct insures at least 85% of your desired outcome.” This is as true for developing an organization’s cost model as it is for any other endeavor. This session will provide participants with a proven method of insuring that those first critical steps in developing an organization’s cost model will set the organization on a path that leads to a cost system that actually works.
10:30p – 11:45am Performance Measurement and Management
Performance Measurement and Management embraces a wide variety of methodologies, metrics, processes, software tools, and systems that help an organization manage its performance. It is management’s way of translating strategic plans into results. It cannot function well, however, in an organization that bases its measurements on a model of its operation that does not reflect economic reality. This session provides insights into the development of a valid economic model of an organization and how that model plays a critical role in enabling an organization’s management to measure and manage “the right stuff” in its quest to reach its organizational goals.
12:45p – 02:00pm Pricing for Profitability – Because Cost Still Matters
Although cost has nothing to do with price, it is a critical factor in making economically sound pricing decisions. A company that cannot provide accurate and relevant cost information to support pricing decisions cannot insure that it attracts the kinds of business that leads to a profitable future. A mistake in pricing just one major product or service can lead to the demise of an otherwise healthy business. This session will illustrate how the effective use of accurate and relevant cost information will help an organization accumulate a portfolio of profitable business that supports its financial performance goals.
2:15p – 03:30pm Accounting for the Lean Enterprise
The stated goal of lean accounting is to provide accurate, timely and understandable information for measuring performance and motivating the lean transformation throughout an organization. But does this mean that lean accounting should be a company’s exclusive source for management accounting information? This session will explore both positive and negative aspects of lean accounting – including value-stream costing – and how it can best be used to improve an organization’s growth, profitability and cash flow.