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In business, one adage has proven to be true time and time again: "You need to spend money to make money." But there also comes a point when your expenses far outweigh your income--and that's a recipe for disaster. It's unsustainable for your company to always be in the red. While you can't eliminate expenses completely, there are many ways you can decrease your overhead expenses, increase your profit margins, avoid fatal cash flow problems, and keep your business afloat even through economic downturns and low sales periods. The author's 7-stage cost reduction process outlined in the book reveals that in one sense it is easy, in another sense not; it is a matter of having the right philosophy, the right attitude, the right processes and the right expertise. Without all of these ingredients coming together in the right order then companies' cost reduction efforts will fail. This book is a very practical guide written for senior managers and executives of large organisations who want to get serious about reducing their overhead costs.
As industrial companies are placing a higher focus on operations, this book comes at the right time with a compilation of basic concepts of Operational Excellence and their application. Operational excellence allows companies to recover from reductions in gross margins and low profitability, which largely occur due to a rise in agile competition and the short life span of new technologies. This book helps managers and consulting academicians as a ready reference for cross-industry implementation of operational excellence.
Professor Lewis is to be congratulated upon being among the first economists to tackle the tricky subject of controlling the nationalised industries."Financial Times This book analyses some of the difficulties of costing and price formation that arise out of the existence of overhead costs in nationalised industry. Issues such as the law relating to monopoly and the accountability of public enterprise are considered, along with complex questions such as price formation and the problem of policy in public corporations.
Overhead cost management is an increasingly important issue. As production processes become more automated, labor inputs are reduced yet capital and other overhead costs are increased. Traditional methods of overheadapportionment allocate increasingly large sums of money on the basis of a rapidly decreasing direct cost base. The usefulness of product costs calculated in this way is marginal, and methods to manage and control the total overhead cost burden are imperative. In this text, John Innes and Falconer Mitchell guide the reader through the strengths and limitations of traditional cost management approaches in the current environment. new approaches, such as Activity-Based Costing (ABC), are described and their merits assessed, together with more well known techniques such as Zero-Based Budgeting (ZBB), Priority-Based Budgeting, and Target Costing. Whereas in the past cost control could take place on a day-to-day basis because many costs were incurred from day to day, in the modern world much greater reliance has to be placed on product design and production planning. Once a product has been designed and a production process set into operation, the options available for controlling costs become much more limited. Successful cost control now demands a more proactive stance on the part of the manager. This book sets out some of the techniques that are available to help in that task.
A less-expensive grayscale paperback version is available. Search for ISBN 9781680922936. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today's college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the "why" as well as the "how" aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization.