For Non-Financial Managers & Professionals
Would your life be easier if the financial information provided by your accountants exactly reflected your operations and supported your decision needs? Of course it would! Have you struggled with your finance and accounting department to get the budget and funding for critical operations or significant improvements?
The language of money is a common denominator for communicating with your organization. Why is it that your operations don’t seem capable of speaking that language? And why can’t accountant speak your language? Managers like you and your employee teams are already becoming more efficient and effective; but you struggle to communicate that success with traditional financial terms.
Managerial costing is costing that reflects your operations very clearly with financial information. It brings everyone to the same “page” with the same language. What is that “page”? Well, it isn’t traditional cost accounting used for external financial reporting to regulatory agencies and the investor communities. Managerial costing is costing for internal decision support.
Combined with the application of revenue management principles, better managerial costing practices can provide managers with the information they need to enhance the profitability of their organizations.