Webinar: Why Standard Costing Leads to Poor Financial Decisions
February 8 @ 11:00 am – 12:00 pm
Standard costing systems were designed for mass production manufacturing. In a lean company, using the information from standard costing systems to leads to non-lean behavior, poor decisions and:
- Sends the message that “lean isn’t working.”
- Motivates non-lean operational decisions
- Does not measure the impact of improvements
- Leads to poor decision making in pricing and profitability analyses
If you are in the accounting department in a lean company, and your company uses a standard costing system, it is inevitable that you will be faced with confronting how its standard costing system is being used.
Lean accounting departments must be the leaders in proactively evaluating how your standard costing system is being used as your lean journey begins and come up with a plan to methodically simplify and possibly eliminate using standard costing.
In this session you will learn:
- Why standard costing leads to poor financial decisions through case study examples
- Why standard costing should not be used to analyze profitability
- How box scores replace standard costing
Join Nick Katko, of BMA on February 8, 2023, at 11:00 am Eastern US time for this free webinar, which will last one hour.
Don’t worry if you cannot attend the webinar live because of other commitments or the time of the live webinar is not good for you. It will be recorded and everyone who registers will receive and e-mail link to listen to the recorded webinar.
If you have any questions about this webinar, please contact Nick at firstname.lastname@example.org.
Who Should Attend: Chief financial officers, controllers, cost accountants, senior leaders and others who use standard costing information in lean organizations
Field of Study: Specialized Knowledge
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet
CPE Credits Earned: 1 (You must attend the live webinar to receive CPE credit)