Strategic Cost Transformation: Using Business Domain Management to Improve Cost Data, Analysis, and Management
“As a CPA with over 30 years of accounting experience, I certainly had to swallow my pride as I read this book. Dr Lee provides compelling evidence that you cannot rely on accounting information alone to make cash decisions.” —Michael Hales Chief Financial Officer, Northern Kentucky University
“Epictetus, a Greek Stoic philosopher, is reported to have said that many things in this world are not and yet appear to be. Such is the case with many of our traditional definitions and descriptions of ‘cost savings’ as described in so many accounting texts. Dr. Lee has taken a page from Epictetus in pointing out that we need a new paradigm of defining a cost saving if we are going to really provide the necessary information needed to manage a business or use accounting information to make more informed business decisions. This book is clearly a game changer in that regard.” —Dr. Joseph F. Castellano Professor Emeritus, University of Dayton
Your product costs $2.86 to make. What does the number tell you about your operations, how effectively they were run, demand, or how much money you spent on capacity? Nothing. Shouldn’t you know?
Accounting information creates a limited picture of operations and true cash performance. Strategic Cost Transformation offers a new framework, business domain management, which creates a comprehensive picture of your organization for improved cash based decision-making.