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The Road To Costing: What is Next?
One of the inevitable outcomes of our cost forums are those questions related to the likelihood of doing future seminars on various cost accounting subjects. It seems there is little continuing...
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Management Accounting: Why Do I Need This Information?
I attended the 7th Spring Management Conference presented by the Detroit Chapter IMA yesterday. The topic was “21st Century Financial Planning and Analysis” presented in tandem by Doug Hicks and Gary...
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Our First Cost Forum for 2013 is Full
This Wednesday afternoon, William Vaughan Company will have our first scheduled cost forum for 2013. Normally we try to limit attendees to approximately 15 so that every participant has the opportunity...
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Is 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...
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When Do I Need to Review My Cost System?
One of the questions we hear most frequently at our cost forums is, “how frequently should my cost system be updated?” Some people ask the question directly while for some it is apparent from their...
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Getting To Know Your Company
The other day we had a meeting over lunch where everyone from William Vaughan Company got together to briefly talk about the various specialty services we offer. We recently acquired another accounting...
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Barriers to Transitioning Your Cost System?
A frequent topic in today’s business news relates to current management’s unwillingness to accept new and more robust cost systems and how the delay in adopting a new cost system is expensive to...
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Change A Number, Change Views
Even though my true passion lies in costing models and the profitability of businesses, during tax season I must return to my true job, tax returns! This week, I made a mistake. Well, actually two! I...
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Management Accountants: Thinking Outside the Box!
I have been working in a public accounting firm for 21 years. Although I am a CPA, I am also a CMA. When I give my 30 second “about myself spiel”, those who have already heard, know that I never really...
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Taking it to the Next Level
This was the first Saturday “post-wrestling” season. Last Saturday, my son was awarded the prize for points leader in his age group for Monroe County wrestlers. He won first place at every tournament...
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Cost Accounting as a Profession
I am constantly amazed by the broad diversity of costing systems that are in use in American businesses today. Different industries, different products, different regions of the country all give rise...
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Is a Central Body a Must for Cost Accounting Professional Growth?
When you think of cost accounting as a profession, you quickly realize it is not really recognized like you would a lawyer, nurse, teacher, etc. I believe one of the items of importance related to the...
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Recognition of Cost Accounting as a Profession: Standard #2
The creation of professional standards The creation of professional standards will likely be the most difficult part of the entire process of recognizing cost accounting as a profession. This is true...
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Recognition of Cost Accounting As a Profession: Standard #3
Professional Recognition Virtually all professions that I can think of have some method of recognizing professional proficiency achievements of their members. Examples include recognition in the form...
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Recognition of Cost Accounting As a Profession: Standard #4
The creation of an oversight board. Another component that occurs frequently in other professional organizations is the creation of an oversight board as part of the overall entity controlling the...
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Recognition of Cost Accounting As a Profession: Standard #5
Continuing educational requirements for the profession of cost accounting. In my opinion, progressive professional accountants are constantly being encouraged and/or required to maintain and expand...
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Transparency vs. Complexity
This service company includes a group of highly paid professionals and a team of technicians that offer technical support for the services the company provides. These skill levels were generally...
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Simple or Better? Which Costing Information Is King?
You have heard us argue time and again that simplicity is better than complexity in the spirit of transparency. I am not arguing against this notion, but instead, I believe sometimes there is better...
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William Vaughan Company Costing CPE
The William Vaughan Company consulting team is proud to announce Why Guess? Mastering the Fundamentals of an Accurate Cost System, a CPE course unlike any other that finally takes an in-depth look into...
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Are Your Costs Really Variable?
Recently I met with the CFO from a large manufacturing company and we were discussing some of the costing issues related to his company. In his case, the company was about to make a major shift in...
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