Cost accounting has exactly two legitimate roles in manufacturing: delivery of reports suitable for (1) tax reporting purposes and (2) income statements and balance sheets to meet the requirements of the Securities and Exchange Commission. Its application to operations management, on the other hand, underscores the warning, 'Be careful what you ask, for you are likely to get it.'
In this webinar by William A. Levinson, you will learn that operational decisions must be based on engineering economics as opposed to accounting and financial metrics. You will understand the difference between cost accounting reports that are suitable for, and required by, the IRS and SEC, and engineering or managerial economic information that is useful for operations management decisions. You will also recognize the difference between an asset's book value and its practical value.
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Who should attend
William A. Levinson P.E.
William A. Levinson, P.E., is the principal of Levinson Productivity Systems, P.C. He is an ASQ Fellow, Certified Quality Engineer, Quality Auditor, Quality Manager, Reliability Engineer, and Six Sigma Black Belt. He is also the author of several books on quality, productivity, and management, of which the most recent ... More info