Podcasts about managerial accounting

Field of business administration, part of the internal accounting system of a company

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managerial accounting

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Best podcasts about managerial accounting

Latest podcast episodes about managerial accounting

Game Changer - the game theory podcast
When Bonuses Backfire: Rethinking Attendance Incentives | with Timo Vogelsang

Game Changer - the game theory podcast

Play Episode Listen Later May 5, 2025 20:44


In this episode we are talking to Timo Vogelsang about why incentives aimed at reducing absenteeism can sometimes have the opposite effect. Based on a Field Experiment in a German supermarket chain, he explains why offering bonuses for attendance backfired. We also explore how incentives can unintentionally shape beliefs and undermine motivation.   Timo Vogelsang is Associate Professor of Managerial Accounting at the Frankfurt School of Finance & Management. His research focuses on behavioural economics and public policy, with a particular interest in how incentives shape motivation and behaviour in real-world settings. You can find the paper Timo talks about in the episode here.

Paint ED Podcast
Mastering The Numbers: Unveiling Managerial Accounting Secrets: PaintED Podcast

Paint ED Podcast

Play Episode Listen Later Dec 19, 2023 101:48


In this enlightening episode of PaintED, join host Torlando Hakes as he dives into the world of managerial accounting with guest Frank Reardon, the esteemed Financial Controller for the Painting Contractors Association (PCA). Get ready to transform your painting business with financial wisdom that goes beyond the basics. We kick off the conversation by exploring the concept of contribution margin – a pivotal tool for understanding profitability in each project. Frank breaks down how to calculate and interpret this metric, offering insights into optimizing pricing strategies and project selection. Next, we tackle the crucial topic of break-even analysis. Frank guides listeners through the process of determining the break-even point for various projects and the overall business. This segment is packed with practical tips for making informed decisions about scaling operations, investing in new equipment, or venturing into new markets. The episode culminates with a deep dive into financial decision-making. Frank shares his expertise on leveraging managerial accounting to make strategic choices that align with both short-term objectives and long-term goals. Listeners will come away with a robust toolkit for financial planning, ensuring their business remains competitive and profitable. Throughout the episode, Torlando and Frank engage in a dynamic discussion, blending technical knowledge with real-world examples specific to the painting industry. Whether you're a seasoned painting contractor or just starting, this episode is a treasure trove of financial acumen that will empower you to steer your business towards success. Tune in to unlock the full potential of managerial accounting in your painting enterprise! Find More Episodes on PCA Overdrive: https://www.pcaoverdrive.org/painted-show PCA Overdrive is free for members. Not a member? Download the app on the Apple Store or Google Play and enjoy a 7 day free trial! Become a member: https://www.pcapainted.org/membership-resources/

The CMA Show
EP 162: Financial vs Managerial Accounting: Top Differences

The CMA Show

Play Episode Listen Later Dec 14, 2023 8:08


In this episode, I'm taking you through a journey to uncover the core differences between Financial Accounting and Managerial Accounting. With interesting analogies and easy-to-understand examples, I'm excited to share how these two fields contrast and complement each other in the business environment. We'll delve into their unique purposes, from Financial Accounting acting like a history book of past business events, to Managerial Accounting serving as a navigational tool for future business strategies. ---------- RESOURCES & LINKS MENTIONED IN THIS EPISODE:

Nebraska FARMcast - Farm and Ranch Management
Tax Accounting vs. Managerial Accounting with Shannon Sand

Nebraska FARMcast - Farm and Ranch Management

Play Episode Listen Later Sep 15, 2023 9:30


Understanding your farm's finances is critical to making sound decisions and positioning your operation for success. But the accounting methods used for tax purposes don't always provide the information needed to properly manage your business. Our guest today, Shannon Sand, is here to explain the key differences between tax accounting and managerial accounting. Shannon is an agricultural economist with the University of Nebraska specializing in farm management. In a new article up on cap.unl.edu, she lays out how tax accounting focuses on external reporting and follows rules aimed at calculating taxable income. In contrast, managerial accounting looks inward, capturing the data needed to analyze production costs, cash flows, capital investments, and overall profitability. Read more at https://cap.unl.edu/finance/tax-accounting-vs-managerial-accounting-what-difference-and-why-does-it-matter.

Nopadol's Story
EP 1897 (MBA36) เรียนรู้เรื่อง Managerial Accounting กัน

Nopadol's Story

Play Episode Listen Later Sep 14, 2023 17:02


EP 1897 (MBA36) เรียนรู้เรื่อง Managerial Accounting กัน Managerial Accounting คือการทำบัญชีที่มุ่งเน้นที่จะเอาไปใช้ประกอบการตัดสินใจทางธุรกิจ เป็นอีกเรื่องที่นักศึกษาที่เรียน MBA จะต้องเจอ มีรายละเอียดอะไรกันบ้าง มาฟังตอนนี้กันครับ

Herd Quitter Podcast
117: John Haskell - Managerial Accounting

Herd Quitter Podcast

Play Episode Listen Later May 1, 2023 75:52


John Haskell of Ranch Right LLC walks us through his process of helping farmers record and understand their financial information. This financial information is essential for making informed decisions related to our business and enterprises. As always, check us out at Herd Quitter Podcast on Facebook and Instagram as well as at herdquitterpodcast.com. You can also check out Pharocattle.com for more information on how to put more fun and profit back into your ranching business!

The DotCom Magazine Entrepreneur Spotlight
Danielle Diliberti, Chief Executive Officer, Sommsation, A DotCom Magazine Exclusive Interview

The DotCom Magazine Entrepreneur Spotlight

Play Episode Listen Later Apr 18, 2023 26:53


About Danielle Diliberti and Sommsation: Danielle Diliberti is Sommsation's Chief Executive Officer. She is also a Senior Director at diversified holding company Eldridge, with a focus on technology-first companies and ongoing investments, including serving as Chief Technology Officer at The St. James. Prior to joining Eldridge, Danielle was Management Consulting Director for KPMG's US Banking & Capital Markets Group and Vice President of Risk and Portfolio Management at Guggenheim Partners. She began her rise in finance at Deloitte's Financial Services Group. Danielle has also served as an adjunct professor for Corporate Finance and Managerial Accounting, both at UCLA and Santa Monica College. She received her B.A. in Accounting and Information Systems from Michigan State University and M.S in Accounting and Financial Reporting from the Broad Graduate School of Management at MSU. She is a licensed CPA. Sommsation is a marketplace modernizing the way people share experiences over wine by connecting wineries, wine experts, the wine obsessed, and the wine curious in exclusive tastings. Sommsation features a wide variety of unique varietals and virtual tasting experiences highlighting the best in the world of wine. Sommsation also facilitates turnkey event planning for businesses and their colleagues and clients, as well as personal events. Sommsation is an innovative wine experience company bringing together independent wineries, sommeliers, wine experts and those looking to discover new wines, expand their knowledge and have a great time. Uniquely crafted virtual tastings feature hidden gems of the wine industry and the insights of an engaging wine professional. We handle all the details, so it's easy for you to share the experience with friends, family and colleagues.

Future Proof Your Strategic Leadership
110. Mini-MBA Toolbox-9: Managerial Accounting

Future Proof Your Strategic Leadership

Play Episode Listen Later Mar 7, 2023 8:57


This episode features accounting professor, Dr. Phl Rickard, as he provides an overview of this strategic topic.

Paint ED Podcast
Stress Tested Contractor & Principles: Contractor Evolution

Paint ED Podcast

Play Episode Listen Later Jan 11, 2023 58:16


Bookkeeping and accounting have a few key distinctions. Have you ever wondered why the bookkeeping and accounting for your contracting or trades business are so challenging? Well, there is a very real reason, and no it's not because you hated math in high school. A lot of it has to do with the fact that your project lifecycles and the cash inflows and outflows that happen therein don't follow the gridded and calendarized rhythms of accounting cycles. They march to the beat of a different drummer (so to speak) and this can create all sorts of headaches and confusion when it comes to both your books and your bank account. Our guest on this episode of Contractor Evolution is Leeroy Beeby, Co-Founder of Check the Level - an accounting, bookkeeping, and software provider. Check The Level was created for general and specialty contractors to master their pricing, profits, and cash flow. They do this through both managerial accounting as well as their proprietary reporting software. What's unique about Leeroy's perspective is he has back-end access to the budgets, P&Ls, cash positions, and pricing systems of hundreds of contractors all over North America and is able to see large-scale patterns in a way almost no one can. To dive into the common practices that are shared by the top 10% of contractors (as well as the common mistakes made by the bottom segment of contractors) watch this episode. Highlights: -The difference between Financial Accounting vs. Managerial Accounting and why most firms won't do the latter for you (even though you really need it) -The patterns that become evident when you look at 100's contractors' financials, and what the top 10% are doing differently than the rest -How the top 10% of contractors set up their sales contracts uniquely to protect their cash flow -Why do you need to be charging a higher markup on your change orders than your standard rates -How to get your team involved in the financial performance of each job -The typical profile for a financially 'at risk' contracting company Watch the episode on PCA Overdrive PCA Overdrive is free for members. Not a member? Try our 7-day free trial. Download the app on the Apple Store or Google Play. Become a PCA member Contact BTA: https://pca.so/btapcace

Centers and Institutes
Ensuring Integrity: The 17th Annual Audit Conference, Part 2. Quality Management

Centers and Institutes

Play Episode Listen Later Jan 10, 2023 66:31


Moderated by Bonnie Mann Falk, Quality Control Partner in Berdon, the part of this Conference includes experts in corporate cost and quality management. They include Ahava Goldman, Associate Director of AICPA, Jeff Rapaglia, Partner of FORVIS and member of ASB, and Wendy Stevens, Partner in Mazars USA and Board Member of IAASB.

Contractor Evolution
86. Financial 'Reality Check' For a Changing Market - Leeroy Beeby

Contractor Evolution

Play Episode Listen Later Dec 15, 2022 57:15


To learn more about Breakthrough Academy, click here: https://trybta.com/PCEP86 To visit Check The Level accounting click here: https://www.checkthelevel.com/ To Join the ‘Job Costing and Bookkeeping for Contractors Only' Facebook Group click here: https://www.facebook.com/groups/jobcostingandbookkeepingfocontractorsonly Have you ever wondered why the bookkeeping and accounting for your contracting or trades business is so challenging?   Well, there is a very real reason, and no it's not because you hated math in high school. A lot of it has to do with the fact that your project lifecycles and the cash inflows and outflows that happen therein don't follow the gridded and calendarized rhythms of accounting cycles. They march to the beat of a different drummer (so to speak) and this can create all sorts of headaches and confusion when it comes to both your books and your bank account.   Our guest on this episode of Contractor Evolution is Leeroy Beeby, Co-Founder of Check the Level - an accounting, bookkeeping and software provider.  Check The Level was created for general and specialty contractors to master their pricing, profits, and cashflow. They do this through both managerial accounting as well as their proprietary reporting software.  What's unique about Leeroy's perspective is he has back-end access to the budgets, P&Ls, cash positions and pricing systems of hundreds of contractors all over North America and is able to see large-scale patterns in a way almost no one can. To dive into the common practices that are shared by the top 10% of contractors (as well as the common mistakes made by the bottom segment of contractors) listen to this episode. Episode Highlights: The difference between Financial Accounting vs. Managerial Accounting and why most firms won't do the latter for you (even though you really need it) The patterns that become evident when you look at 100's of contractors' financials, and what the top 10% are doing differently than the rest How the top 10% of contractors set up their sales contracts uniquely to protect their cash flow Why you need to be charging a higher markup on your change orders than your standard rates How to get your team involved in the financial performance of each job The typical profile for a financially 'at risk' contracting company See omnystudio.com/listener for privacy information.

Contractor Evolution
86. Financial "Reality Check" For a Changing Market - Leeroy Beeby

Contractor Evolution

Play Episode Listen Later Dec 14, 2022 57:16


To learn more about Breakthrough Academy, click here: https://trybta.com/PCEP86 To visit Check The Level accounting click here: https://www.checkthelevel.com/ To Join the ‘Job Costing and Bookkeeping for Contractors Only' Facebook Group click here: https://www.facebook.com/groups/jobcostingandbookkeepingfocontractorsonly Have you ever wondered why the bookkeeping and accounting for your contracting or trades business is so challenging?   Well, there is a very real reason, and no it's not because you hated math in high school. A lot of it has to do with the fact that your project lifecycles and the cash inflows and outflows that happen therein don't follow the gridded and calendarized rhythms of accounting cycles. They march to the beat of a different drummer (so to speak) and this can create all sorts of headaches and confusion when it comes to both your books and your bank account.   Our guest on this episode of Contractor Evolution is Leeroy Beeby, Co-Founder of Check the Level - an accounting, bookkeeping and software provider.  Check The Level was created for general and specialty contractors to master their pricing, profits, and cashflow. They do this through both managerial accounting as well as their proprietary reporting software.  What's unique about Leeroy's perspective is he has back-end access to the budgets, P&Ls, cash positions and pricing systems of hundreds of contractors all over North America and is able to see large-scale patterns in a way almost no one can. To dive into the common practices that are shared by the top 10% of contractors (as well as the common mistakes made by the bottom segment of contractors) listen to this episode. Episode Highlights: The difference between Financial Accounting vs. Managerial Accounting and why most firms won't do the latter for you (even though you really need it) The patterns that become evident when you look at 100's of contractors' financials, and what the top 10% are doing differently than the rest How the top 10% of contractors set up their sales contracts uniquely to protect their cash flow Why you need to be charging a higher markup on your change orders than your standard rates How to get your team involved in the financial performance of each job The typical profile for a financially 'at risk' contracting company See omnystudio.com/listener for privacy information.

The Soul of Enterprise: Business in the Knowledge Economy

Ed and Ron welcome back Dr. Reginald Lee for the 6th time! Join us for a free-wheeling discussion on a variety of topics.

The Soul of Enterprise: Business in the Knowledge Economy

Ed and Ron welcome back Dr. Reginald Lee for the 6th time! Join us for a free-wheeling discussion on a variety of topics.

The Soul of Enterprise: Business in the Knowledge Economy

Ed and Ron welcome back Dr. Reginald Lee for the 6th time! Join us for a free-wheeling discussion on a variety of topics.

Real Estate Investor Growth Network Podcast
118 - Badass Interview with Yasser Hatab

Real Estate Investor Growth Network Podcast

Play Episode Listen Later Oct 17, 2022 42:09


Personal Branding with The Property Captain   We have Yasser Hatab on the show and if you are working on your personal brand, you do NOT want to miss this episode!  Listen in as Yasser shares why you only get one shot to develop your personal brand.  He discusses why "real attracts real" and your brand needs to be based on your purpose.  And how do you determine your purpose?  Well, what are you waiting for...hit PLAY!   Hi! I'm Yasser Hatab (also known as The Property CaptainTM). I'm also known as The Cashflow Captain (a nickname given to me because of my focus on passive income). I'm an experienced serial entrepreneur and real estate professional with two decades of real estate & business experience serving different markets across the United States. I've served in different roles ranging from realtor, investor, appraiser, and construction manager. I have an MBA in Managerial Accounting from NYU and a BBA in Operations Management from Baruch College in NYC. Alongside my lifetime passion for aviation as an airline pilot, I've focused on my calling...to serve the real estate community. With a great network of relationships built over two decades, I discover ways to solve some of the trickiest situations homeowners may find themselves in. Essentially, I don't stop until I've found a winning solution for everyone involved. I pride myself as the go-to “creative solutions” guy you come to when you need something to get done in real estate and business...and guess what? I love every bit of it!   Social Media Links: @iamthepropertycaptain Website: thepropertycaptain.com   To learn more about Jen Josey, visit www.TheRealJenJosey.com To join REIGN, visit www.REIGNmastermind.com

The Art of Range
AoR 89: Ranch Managerial Accounting with Stan Bevers

The Art of Range

Play Episode Listen Later Aug 24, 2022 70:31


You need a ranch financial team. Keeping ranch financial records for tax purposes is not the same thing as managing the financial health of a ranch. Stan Bevers has been teaching and consulting on ranch finance for decades with Texas A&M Extension, the King Ranch Institute, and now RanchKPI. This is the first episode in a two-part series with Stan on managerial accounting and key performance indicators (KPIs). In this episode, co-hosted with James Rogers and Clay Worden, we discuss tax accounting v. managerial accounting, benchmarking, regional differences in KPI values and expectations, and the relationships among financial stability and environmental sustainability. As Clay says here: "If there's no margin, there's no mission." TRANSCRIPT available at https://artofrange.com/episodes/aor-89-ranch-managerial-accounting-stan-bevers RESOURCES MENTIONED IN THIS EPISODE Stan Bever website, https://www.ranchkpi.com/ King Ranch Institute, Go to https://krirm.tamuk.edu/ to see current learning opportunities. Northway Ranch Services, individualized administrative and financial help. https://northwayranchservices.com/ Heymer Management Accounting Services. Brenda can be reached at brenda@heymermanagement.com or(806) 605-6101.

Common Sense Digest
The Challenges and Opportunities of an Aging Workforce featuring Karen Brown and Alexa Eastburg

Common Sense Digest

Play Episode Listen Later May 6, 2022 29:35


In celebration of Older Americans Month, Common Sense Digest explores the topic of Colorado's aging workforce and the impact it will have on our state's future. Older Americans Month is an annual event dating back to 1963, when President John F. Kennedy designated May as Senior Citizens Month, later renamed Older Americans Month, honoring older Americans, and celebrating their contributions to our communities and our nation. If you'd like to learn more about Older Americans Month, visit Administration for Community Living. Pertinent to this discussion is the recent CSI report: Colorado's Future: The Impact of an Aging Workforce. Chairman and Host Earl Wright welcomes the report's co-authors, Karen Brown, CEO and Ambassador of iAging and Aging2.0 Denver Chapter and Alexa Eastburg, Research Analyst with Common Sense Institute. They discuss their remarkable findings about the current labor shortage, the projected increase in older workers, what the government, corporations and individuals can do about it, and attempt to project a path for the future. It's an episode that impacts business in every single sector, so these insights are germane across industries. Thank you for listening to Common Sense Digest. Please rate, review, and subscribe on your favorite podcatcher. All of our podcasts can be found here. Karen Brown CEO and Ambassador of iAging and Aging2.0 Denver Chapter, a catalyst for Gerontechnology and "Think Different" Aging Solutions. An advocate for the aging population with a mission to seek out, promote and assist in the development and funding of innovations and technologies that improve the lives of seniors, their caregivers, families, and society as a whole.  Alexa Eastburg is a Research Analyst with Common Sense Institute. She graduated from Coe College in May of 2021 with a B.A. in Economics, Managerial Accounting, and Business Administration. She is a Research Analyst at Common Sense Institute. Her experience covers analyzing workforce, crime, and education issues in the state of Colorado.

Cloud Accounting Podcast
4,000-Year-Old Case of Tax Avoidance

Cloud Accounting Podcast

Play Episode Listen Later Dec 10, 2021 49:15


SponsorsOnPay: https://cloudaccountingpodcast.promo/onpayRewind: https://cloudaccountingpodcast.promo/rewindReach Reporting: https://cloudaccountingpodcast.promo/reachNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpeShow Notes01:50 – NASBA stops giving universities info on CPA Exam performance | Accounting Todayhttps://www.accountingtoday.com/news/nasba-stops-giving-universities-info-on-cpa-exam-performance 02:57 – How to Prepare Students Now for the CPA Evolutionhttps://www.accountingweb.com/technology/how-to-prepare-students-now-for-the-cpa-evolution 05:57 – I finished my accounting degree, but the entry level pay is too low.https://www.reddit.com/r/Accounting/comments/r9fekz/i_finished_my_accounting_degree_but_the_entry/?utm_source=share&utm_medium=ios_app&utm_name=iossmf 07:58 – Grant Thornton adds benefits to entice and retain employeeshttps://www.accountingtoday.com/news/grant-thornton-adds-benefits-to-entice-and-retain-employees 12:50 – A 4,000-year-old tale of trade and contraband I Curator's Corner – YouTubehttps://www.youtube.com/watch?v=bQIBf7eeXG8 15:38 – TikToks on how to use Excel spreadsheets are getting billions of views and building one of the best communities on the platformhttps://www.yahoo.com/news/tiktoks-excel-spreadsheets-getting-billions-170843117.html 19:29 – Disgruntled HR executive trashed personnel files and deleted 17,000 resumes after being fired — now faces up to 15 years in prison – MarketWatchhttps://www.marketwatch.com/story/ex-hr-exec-convicted-of-trashing-companys-personnel-records-and-deleting-17-000-resumes-after-being-fired-11629230357 21:45 – New Data Finally Shows Why People Are Quitting Their Jobs. It's Definitely Not Because They're Lazyhttps://www.inc.com/bill-murphy-jr/new-data-finally-shows-why-people-are-quitting-their-jobs-its-definitely-not-because-theyre-lazy.html 25:03 – Thomson Reuters makes plans for new products | Accounting Todayhttps://www.accountingtoday.com/news/thomson-reuters-makes-plans-for-new-products 29:14 –Square Inc. is Now Block; Brand to Remainhttps://www.pymnts.com/news/merchant-innovation/2021/square-inc-is-now-block-brand-to-remain/ 29:24 – SCOTT GALLOWAY: Jack Dorsey has finally stepped down — and a new era of 'superapps' is dawninghttps://www.businessinsider.com/scott-galloway-jack-dorsey-resignation-new-era-superapps-dawning-2021-12 31:26 – Intuit updates tax prep tools | Accounting Todayhttps://www.accountingtoday.com/news/intuit-updates-tax-prep-tools 32:46 – Let a Tax Expert Do Your Taxes for You With TurboTax Live Full Service!https://blog.turbotax.intuit.com/turbotax-news/let-a-tax-expert-do-your-taxes-for-you-with-turbotax-live-full-service-50467/ 35:25 – NoCode Developmenthttps://www.liveca.ca/nocode-development 37:50 – H&R Block Selects Xero as Cloud Accounting Solution Provider for Assisted Bookkeepinghttps://www.crowdfundinsider.com/2021/12/183701-hr-block-selects-xero-as-cloud-accounting-solution-provider-for-assisted-bookkeeping/ 39:00 – Latest product news – December 2021 | Xero Bloghttps://www.xero.com/blog/2021/12/product-news-dec-2021/ 43:08 – Microsoft Teams Essentials is a new standalone version for small businesseshttps://www.theverge.com/2021/12/1/22811605/microsoft-teams-essentials-price-features-availability 44:03 – Apple Introduces Business Essentialshttps://smallbiztrends.com/2021/11/apple-introduces-business-essentials.html 45:20 – Apple introduces device management solution aimed at small businesshttps://techcrunch.com/2021/11/10/apple-introduces-device-management-solution-aimed-at-small-business/Get in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts Podchaser: http://cloudacctpod.link/podchaser Spotify: http://cloudacctpod.link/Spotify Google Play: http://cloudacctpod.link/GooglePlay Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast ClassifiedsFuture Firm: https://futurefirmaccelerate.com/Accounting Podcast Network: https://accountingpodcastnetwork.com/Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the link below to get more info.Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd Full Transcript Available Upon Request - info@cloudaccountingpodcast.com

Grow Theory
Business Finances 101 w/ Brittani Shantel Jackson

Grow Theory

Play Episode Listen Later Sep 13, 2021 42:33


DISCLAIMER: This podcast episode is for educational and entertainment purposes. Please consult with a CPA for your specific financial needs.Social Media:https://www.instagram.com/intrinsicaccounting/https://www.facebook.com/intrinsicaccountinghttps://twitter.com/IntrinsicCPAhttps://www.intrinsicaccounting.com/Helpful Resource:https://mailchi.mp/b47b7b920b0a/the-pay-yourself-srs-framework Business Bio:Intrinsic Accounting, LLC is a virtual accounting firm that offers bookkeeping, accounting, and financial coaching services to Coaches and Creative Entrepreneurs. Intrinsic Accounting, LLC is owned and operated by a father-daughter duo. Our goal is to help our clients create and maintain a profitable and scalable business they financially understand without the headache! About Brittani Shantel Jackson:Brittani Shantel Jackson is a 29-year-old Certified Public Accountant (CPA) based in Detroit, Michigan, her hometown. Her love for accounting started at a young age when she helped her father and now business partner, Lionel Jackson, with the bookkeeping for her grandfather's landscaping and snow removal business.Brittani obtained her Bachelor of Arts in Accounting and Master of Science in Accounting at Michigan State University and Wayne State University, respectively. Throughout her college career, Brittani interned with a Big 4 Accounting Firm, PricewaterhouseCoopers, LLP (PwC), and began her full time career post graduation. She provided auditing and attestation services for private firms throughout the Midwest within multiple facets of industries, such as automotive, technology, and dental. During this time, Brittani obtained her CPA license in the State of Michigan.Before starting her journey towards her Ph.D. in Accounting, Brittani was an accounting teaching assistant at Michigan State University and Wayne State University. Additionally, Brittani was a Visiting Instructor at the University of Toledo, teaching Financial Accounting, Managerial Accounting, and Auditing on the Undergraduate and Graduate levels.What separates Brittani from the traditional CPA is her creative background. Since 2009, Brittani has been a photographer focused on Beauty & Fashion. Her experience with the creative industry allows her to understand the financial struggles and needs of creative entrepreneurs. She seeks to help other creatives maintain and scale their business through proper bookkeeping and accounting.

Finance Facts
What is Managerial accounting ?

Finance Facts

Play Episode Listen Later Aug 30, 2021 1:31


Ok now we’ve previously spoken about Financial Accounting. But you also need to know what Managerial Accounting is, so let’s talk about it!

Wharton FinTech Podcast
Sebastian Kreis, Co-Founder of Xepelin – Blitzcaling your Startup & Empowering LatAm's SMBs

Wharton FinTech Podcast

Play Episode Listen Later Aug 2, 2021 32:54


Miguel Armaza sits down with the amazing Sebastian Kreis, Co-Founder/Co-CEO of Xepelin, a Latin American fintech company that aims to be the leading SME digital bank in the region. Founded in 2019 by Sebastian and Nicolas de Camino, they are one of the fastest growing fintechs in the history of Latam, having loaned more than $400 million in the last couple of years, onboarded over 4,000 clients, and have been doubling in size every three months throughout the last year. They are also backed by some of the best fintech investors, including Kaszek, DST Global, Picus Capital, FJ Labs, Gilgamesh Ventures, Jackie Reses, and many more. In this episode, we discuss - Sebastian's journey and what inspired him to pursue an entrepreneurial career in fintech - The importance of a strong co-founder relationship and how Sebastian and Nico work together - Company culture and why honesty and transparency are at the very center of Xepelin - The dramatic reality that almost 95% of Latin American companies are unbanked or underbanked and how Xepelin is fixing this - Lessons for entrepreneurs, fundraising reflections… And just a lot more! Sebastian Kreis Sebastian is Co-Founder & Co-CEO at Xepelin, a Latin American fintech company that aims to be the leading SME digital bank in Latam. Prior to Xepelin, he was a Consultant at BCG where he led a multidisciplinary team to develop and execute several successful fintech products serving Fintech and Financial Services firms with a focus on digitization and technology. He has dedicated his efforts in leading teams and helping organizations to bring new digital experiences. Sebastian's experience goes across digital functions: digital strategy, at scale digital transformations, product development, omnichannel user experience strategy and advanced analytics. Prior to BCG, Sebastian co-founded and scaled Safecard from an idea to $2.0M in recurring revenue. Before Safecard, he was an Investment Banking VP at IM Trust (acquired by Credicorp) where he led over 30 M&A, capital market and private transactions totaling +$10Bn and the company's international expansion into Peru. Sebastian holds a Master in Business Administration from UC Berkeley Haas School of Business where he was co-president of the Latin American and Hispanic Business Association and co-founded the Haas Fintech Club. He is an Industrial Civil Engineer from Catholic University. He is certified Scrum Master for software development. Sebastian has also been involved in academia, serving in 2010-2013 as part time professor of Managerial Accounting & Corporate Finance in the school of engineering in Catholic University. About Xepelin “We're reimagining financial services in Latam so every company can focus on operating their business and realize their potential.” Xepelin is a Latin American fintech company that aims to be the leading SME digital bank in Latam. The company was founded in 2019 by Nicolas de Camino and Sebastian Kreis. Thousands of businesses use Xepelin to manage their finances. We're proud to serve SMBs from all regions and industries in Mexico and Chile, helping founders, managers and their teams stay focused on what they care about most: operating their business. Xepelin is backed by Kaszek, DST Global, Picus Capital, Kayyak Ventures, FJ Labs, Kavak founder Carlos Garcia and ex-head of Square Capital Jackie Reses. Xepelin has raised over $36 million in equity and $250 million in asset-backed facilities to date. For more information, visit https://www.xepelin.com For more FinTech insights, follow us below: Medium: medium.com/wharton-fintech WFT Twitter: twitter.com/whartonfintech Miguel's Twitter: twitter.com/MiguelArmaza Miguel's Newsletter: https://bit.ly/3jWIpqp

Have You Herd? AABP PodCasts
Improving practice profitability using managerial accounting

Have You Herd? AABP PodCasts

Play Episode Listen Later May 17, 2021 45:36


Dr. Fred Gingrich, AABP Executive Director, is joined by Dick Lewis, a businessman for over 40 years in large and small companies. Dick met AABP member and past president Dr. Roger Saltman on an airplane in 2013 and became involved with our organization, volunteering his time to teach practice management to veterinary practice owners to improve profitability. Veterinarians in rural communities will not be able to provide services to their clients if their practice is not profitable. Unfortunately, many practices only utilize tax-based accounting which is a prescribed treatment of numbers so that every business has some degree of standardization for taxes. Managerial accounting is a system of evaluating revenue and expense categories in a way the helps you dissect your business. Dick suggests setting up 6 to 8 revenue categories and 15 – 20 expense categories in an Excel spreadsheet to monitor trends over time. We discuss COGS (cost of goods) and how to evaluate it within different revenue categories to more accurately evaluate the profitability of each service. Services should continue to increase business profitability to ensure that each category is accretive, meaning the profit margin is not decreasing but is adding to the improving profitability of the practice. He suggests a revenue category of “call fees” or “farm trip fees” and assign a COGS to it to assist owners in designating appropriate fees to this service instead of operating call fees as a loss leader. Dick suggests that all partners sit down and agree to each category to implement managerial accounting principals in their practice and if one partner is managing this each month, assigning a value to that to reflect the partner’s work on managerial accounting versus service revenue. AABP continues to provide business management resources. You can find many resources on the Veterinary Practice Sustainability (VPS) committee resource page. Not a member of AABP? Become an AABP member at this link so that our organization can assist you in making sure your rural practice not only survives but thrives!

Grow My Accounting Practice | Tips for Accountants & Bookkeepers to Grow Their Business
Mark Coudray: The Role of Gross Margin Timing on Profitability

Grow My Accounting Practice | Tips for Accountants & Bookkeepers to Grow Their Business

Play Episode Listen Later Feb 18, 2021 37:39


Mark Coudray is a Mastery Profit First Professional and a well-known business coach recognized for some pretty remarkable profitability results for his clients. In this episode, Mark shares his perspective on why so many small businesses struggle with profitability. He also explains the difference between Financial and Managerial Accounting and the use of Activity Based Accounting. Mark Coudray elaborates on the main topic in this episode, “Gross Margin Timing" and its role in profitability.   Nextiva – VOIP phone providers for small businesses and fully integrated CRM

Cash Kaw - Finance for Everyone!
Financial Accounting VS Managerial Accounting

Cash Kaw - Finance for Everyone!

Play Episode Listen Later Sep 5, 2020 7:11


Welcome to Cash Kaw! In today's episode, let's take a look at Financial Accounting and how it differs from Managerial or Management Accounting.

Financial Floss
Managerial vs Financial Accounting

Financial Floss

Play Episode Listen Later Jul 30, 2020 35:33


Chris Sands and Brent L. Saunier, CPA and Managing Partner of Pro-Fi 20/20 CPAs, discuss the difference between Managerial and Financial Accounting in the dental world.  Most doctors will tell you they want Managerial Accounting, but most are only receiving Financial Accounting. Find out what sets them apart, and what kind you should have for your practice. 

The Dentalpreneur Podcast w/ Dr. Mark Costes
927: Sophisticated Ownership Through Managerial Accounting Pt. 2

The Dentalpreneur Podcast w/ Dr. Mark Costes

Play Episode Listen Later Jun 5, 2020 34:20


If you love diving into the numbers, or are looking to increase the sophistication of your business; this episode is for you. Today we have the partners of the new accounting ...Continue Reading...

The Dentalpreneur Podcast w/ Dr. Mark Costes
926: Sophisticated Ownership Through Managerial Accounting Pt. 1

The Dentalpreneur Podcast w/ Dr. Mark Costes

Play Episode Listen Later Jun 4, 2020 34:33


If you love diving into the numbers, or are looking to increase the sophistication of your business; this episode is for you....Continue Reading...

The My Future Business™ Show

My Future Business Interview with CASSMER WARD #cassmerward  #accounting #businessbooks Hi, and welcome to the show! On today's My Future Business Show I have the pleasure of spending time with business owner, serial entrepreneur, chartered public accountant, speaker and author CASSMER WARD. To give context to today's call, Cassmer teaches Managerial Accounting and Entrepreneurship in the MBA program at the McColl School of Business at Queens University in Charlotte, N.C. and has successfully developed educational platforms that apply real world case-studies to business school concepts. Additionally, for over two decades, Cassmer has served as Chief Financial Officer across various industry sectors, including construction, manufacturing, engineering, real estate, and digital marketing. Using his great depth and breadth of knowledge and experience, Cassmer has helped lead several start-up organizations, including those in engineering, medical devices, consulting, and of course, donut companies. On donuts, Cassmer has recently released his new book called “How Much Does It Cost to Make A Donut?” which delivers accounting knowledge in a series of entertaining and educational short stories. Inside the book, you get to follow a donut shop owner and her partner as they use basic accounting foundations to build a donut company. From concept through five years of operation, and you get to uncover how this aspiring business owner learned how to make decisions using accounting without actually doing any accounting. One of the key takeaways for me, was Cassmer's point around how knowing your numbers can give you insights needed to make informed decisions. Then taking those numbers and actually using them to make business decisions. If you're not an accountant, but need to understand accounting principles so you can make more informed decisions, then this book is for you. To get your copy of the book, or to contact Cassmer directly, click the link below. Thanks again Cassmer, for being my guest on The My Future Business Show! Rick Nuske PS: To get in front of your best audience and stay there, click the book your interview button below. Thanks for joining us on the show today, and if you liked this call, support the show by clicking on our big red YouTube subscribe button below, and share us with your friends. 

Count Me In®
BONUS | Wendy Tietz - Leading Online Learning

Count Me In®

Play Episode Listen Later Mar 27, 2020 13:06


Wendy Tietz, Ph.D., CMA, CSCA, CPA, is a professor in the Department of Accounting in the College of Business Administration at Kent State University, where she teaches financial accounting and managerial accounting. She teaches in a variety of formats, including large face to face, hybrid synchronous web-based, and asynchronous web-based. She authors a blog, Accounting in the Headlines, which has real-world news stories and resources for use in the introductory accounting classroom. Wendy has been published in several accounting journals and is the co-author of two accounting textbooks (Managerial Accounting, Braun & Tietz, 2017, 5th ed, Pearson Education and Financial Accounting, Thomas, Tietz & Harrison, 2018, 12th ed, Pearson Education). She has won numerous teaching awards at the college, university, and national levels and remains involved in IMA at the local, state, and global level, as well as serving as a member of AAA, AICPA, and Ohio Society of CPAs. Wendy is extremely passionate about introductory accounting education, social media, engagement, and educational technology. All these passions have been combined in today's business environment as she, like many others, has been forced to teach exclusively online and incorporate different social media and engagement strategies through educational technology to continue with her accounting curriculum. To learn from Wendy's experiences and hear some practical steps for leading online learning, download and listen to this episode now!

Present Value Podcast
Bias in Decision-Making, Social Media’s Role in Investor Communication, and I-FOMO | Ryan Guggenmos & Kristina Rennekamp

Present Value Podcast

Play Episode Listen Later Feb 6, 2020 42:53


Professor Ryan Guggenmos and Professor Kristina Rennekamp (MS '11 and PhD '12) introduce the field of behavioral accounting by discussing the common biases that individuals, investors, managers, and regulators face when making decisions. From being too overconfident when picking stocks to anchoring on a low number when buying a car - they illustrate the common biases that individuals face and connect these to managerial decisions. They also discuss their research into the evolutions of investment disclosures, including pro-forma earnings, readability, and social media as a new medium. And they describe their newly coined term I-FOMO, Investor Fear of Missing Out, which is used to assess how changing investor communication practices are impacting everyday investors.  Ryan Guggenmos is an Assistant Professor of Accounting at the Johnson Graduate School of Management. His research focuses on how biases in human behavior affect decision processes in accounting contexts. He received his PhD from the University of Massachusetts Amherst and his BA from Seattle University. At Johnson, he teaches the popular elective Managerial Accounting and Reporting. Kristina Rennekamp is an Associate Professor of Accounting at the Johnson Graduate School of Management. Her research examines financial accounting from a behavioral perspective, and particularly how biases affect managers' disclosure decisions and users' judgments with respect to those disclosures. She received her Masters of Science and PhD from Johnson in Accounting and earned her MBA and Bachelor of Business Administration from the University of Iowa. At Johnson, she teaches the Core Financial Accounting class for the Ithaca residential MBA programs and was named one of Poets and Quants Best 40 under 40 Professors in 2017.  Links from the Episode at presentvaluepodcast.com Faculty Profiles: Johnson - Ryan Guggenmos / Johnson - Kristina Rennekamp SSRN Research Profiles: Ryan Guggenmos / Kristina Rennekamp I-FOMO Paper: Mobile Devices and Investment Apps: The Effects of Information Release, Push Notification and the Fear of Missing Out (I-FOMO) Guggenmos Video Lecture: The Impact of Innovation and Technology on Accounting and Accounting Research Poets and Quants: 2017 Best 40 Under 40 Profile: Kristina Rennekamp

The Ag View Pitch
Dick Wittman; Importance of Managerial Accounting

The Ag View Pitch

Play Episode Listen Later Dec 12, 2019 20:30


Chris Barron talks with Dick Wittman on our Recognized 100th episode in Las Vegas on the importance of Managerial Accounting and how to get there in your operation. Dick is an expert in this area, leading some of the original foundations of standardized accounting and teaching this subject for the last 40 years. You can learn more at wittmanconsulting.com. Contact Chris at cbarron@agviewsolutions.com, email us here at agviewpitch@gmail.com, or call at (319)533-5703. Enjoy!

Count Me In®
Ep. 21: Dr. Paul Juras - Industry 4.0 & Management Accounting

Count Me In®

Play Episode Listen Later Oct 14, 2019 10:02


Paul Juras, PhD, CMA, CPA is the Vander Wolk Professor of Managerial Accounting and Operational Performance at Babson College, is a Certified Management Accountant and holds a Certified Public Accountant license from NY. He has expertise in strategic management accounting and his current research interests focus on contemporary cost management and operational performance issues. Industry 4.0 (I4.0) appeared on the scene a few years ago. Whether called the 4th industrial revolution, smart factories, or some other name, the underlying principles of I4.0 are impacting organizations and their supply chains across the globe. In his first episode as a part of Count Me In, Paul Juras, helps us understand just why we, as accounting and finance professionals, can benefit from learning more about this topic.

Accounting Instruction
2 Managerial Accounting-Process Cost System

Accounting Instruction

Play Episode Listen Later Sep 15, 2019 31:59


2 Managerial Accounting Process Cost System --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Accounting Instruction
3 Managerial Accounting-Equivalent Units- Process Cost System

Accounting Instruction

Play Episode Listen Later Sep 15, 2019 30:24


Managerial Accounting Equivalent Units- Process Cost System --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Accounting Instruction
4 Managerial Accounting-Cost Volume Profit Analysis

Accounting Instruction

Play Episode Listen Later Sep 15, 2019 20:17


4 Managerial Accounting Cost Volume Profit Analysis --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Accounting Instruction
5 Managerial Accounting-Cost Variance Analysis, Flexible Budgets, & Standard Costs

Accounting Instruction

Play Episode Listen Later Sep 15, 2019 21:57


Managerial Accounting Cost Variance Analysis, Flexible Budgets, & Standard Costs --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Accounting Instruction
6 Managerial Accounting-Master Budget

Accounting Instruction

Play Episode Listen Later Sep 15, 2019 25:11


Managerial Accounting Master Budget --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Accounting Instruction
7 Managerial Accounting-Payback Period, Accounting Rate of Return, Net Present Value, Internal Rate of Return

Accounting Instruction

Play Episode Listen Later Sep 15, 2019 27:24


Managerial Accounting Payback Period, Accounting Rate of Return, Net Present Value, Internal Rate of Return --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Accounting Instruction
1 Managerial Accounting-Job Cost System

Accounting Instruction

Play Episode Listen Later Sep 15, 2019 52:09


Managerial Accounting Job Cost System --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Accounting Instruction
8 Managerial Accounting-Managerial Decisions, Relevant Cost, Sunk Cost, Opportunity cost

Accounting Instruction

Play Episode Listen Later Sep 15, 2019 29:17


Managerial Accounting Managerial Decisions, Relevant Cost, Sunk Cost, Opportunity cost --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

[MEA] Managerial Economics and Accounting
[MEA01C-ID] Introduction of Managerial Accounting

[MEA] Managerial Economics and Accounting

Play Episode Listen Later Sep 2, 2019 3:50


Credit title: Subject Matter Expert : Sartika Rini, S.T.,M.T. Dokumenter: Binus University Uploaded by: Knowledge Management and Innovation Binus University

[MEA] Managerial Economics and Accounting
[MEA01D-ID] Managerial Accounting and the Business Environment

[MEA] Managerial Economics and Accounting

Play Episode Listen Later Sep 2, 2019 6:39


Credit title: Subject Matter Expert : Sartika Rini, S.T.,M.T. Dokumenter: Binus University Uploaded by: Knowledge Management and Innovation Binus University

OmniStar Beacon
The 3 Profits of the Income Statement, Do you know them? (EP08)

OmniStar Beacon

Play Episode Listen Later May 7, 2019 20:00


THE 3 PROFITS of the INCOME STATEMENT…do you know them? Yes, understanding Financial Statements is an essential business skill. In this Podcast we continue our deconstruction, decoding and deciphering of the key financial statements. Last episode we dug into the Balance Sheet. I hope you found that episode insightful. If you haven’t heard it yet no worries, check it out when we finish here! This Episode is about the INCOME STATEMENT. The Income Statement goes by many other names and aliases, Profit and Loss Statement, the P&L, Revenue Statement, Statement of Financial Performance, Earnings Statement or Statement of Earnings, Operating Statement, or Statement of Operations…geeezzzz, enough already, if one name wasn’t hard enough to remember. I’ll stick with calling it an Income Statement, but my lenders and banker’s always ask me for our P&L. Of all the financial statements this is the one you are probably most aware of and check because is contains one number everyone wants to know…. THE BOTTOM LINE or NET PROFIT. This number is the easiest to locate, because it’s at the bottom line of the Income Statement. You probably dash there when the reports arrive, eager to see how the practice did. Hopefully you don’t find a number bracketed by parentheses signifying a loss. What’s up with that? That doesn’t make any sense, how can one have negative money? You know there is money in the bank account because you just checked! You say to yourself I never understood those dagnabnett accounting reports and financial statements any way and carry on with business as usual. If there is a BOTTOM LINE, there must be a TOP LINE…correct you are! And a MIDDLE too! So let’s starting deconstructing the INCOME STATEMENT! An Income Statement contains three sections: TOP LINE: shows you your total REVENUE or SALES SIDE BAR here, when business folks talk of TOP LINE GROW, that’s secret code for sales growth, plain and simple. MIDDLE SECTION: reveals your COSTS and EXPENSES broken down by category. BOTTOM LINE: shows your NET PROFIT or LOSS; which is REVENUE - EXPENSES. It’s that simple, and as we learned in the Balance Sheet Podcast, it’s the NET PROFIT that connects the INCOME STATEMENT to the BALANCE SHEET since it is added to the RETAINED EARNINGS section of the BALANCE SHEET. An income statement is much like a report card. It is always calculated over a given time period, typically one month. Understanding this, we can better see that the income statement affects the balance sheet much like how an individual grade affects your GPA. The RETAINED EARNINGS section of the balance sheet accumulates all of the profits or losses in the business. This is a critically important point to highlight and understand for it is how the BALANCE SHEET and INCOME STATEMENT are connected. So, back to the most important feature of the INCOME Statement, the calculation of PROFIT! Your MISSION, should you choose to accept it, is to Learn what all the line items on the income statement are, and how to manage them. With this knowledge you will know how to improve and contribute to the profitability of your firm. The income statement measures how profitable your products or services are when everything is added up! Remember, the bottom line Profit number is always an estimate, since estimates and assumptions sneak into some of the line items of the income statement. Just as important is the fact that PROFITS are NOT CASH! You can’t spend PROFIT, you can only spend CASH. We will look in greater detail at CASH in the next podcast on the STATEMENT of CASH FLOWS. Overtime, in a well run and managed firm, PROFITS will turn into CASH! Let’s deconstruct our INCOME STATEMENT a little further. We will start at the top line of the income statement - REVENUE or SALES. A critical element here is when is REVENUE RECOGNIZED or RECORDED. For listeners that are using a Modified Cash Basis Accounting System, then this is easy…your REVENUE is the total Payment from all sources, typically patients and insurance and is RECOGNIZED only when payments are received! For other firms and publicly traded companies that are required to follow GAAP accounting rules, REVENUE RECOGNITION can be more challenging. Let’s keep it simple for our purposes and say that a company can record a sale, or recognize revenue, only when it delivers a product or service to a customer. This is an area where accountants have great discretion and latitude, and where estimates and distortions can sneak in. For Revenue to be recognized it must have been EARNED, either a product shipped, or service work performed. The next section of the INCOME STATEMENT, the Middle Section details all your COSTS and EXPENSES. EXPENSES are divided into 2 distinct categories: Cost of Good Sold (COGS), or Cost of Services (COS) and Operating Expenses, also referred to as Sales, General, and Administrative Expenses (S,G&A), or just G & A for General and Administrative. The COGS or COS includes all the costs directly involved in producing a product or delivering a service. Typically this includes the wages of employees making a product or delivering a service and the materials or supplies used. This distinction between COGS/COS and OPERATION EXPENSES also serves as a dividing line on the income statement. You may hear executives and managers talking about ABOVE THE LINE and BELOW THE LINE. Well, this is where the line is! ABOVE THE LINE there are only 2 items, REVENUE and COGS or COS this is the GROSS MARGIN you hear “Mr. Wonderful” asking about on Shark Tank, or Marcus Lemonis preaching about on The Profit. BELOW THE LINE, we will learn next, are OPERATING EXPENSES, INTEREST, and TAXES. Why is this distinction important? Well, the items ABOVE THE LINE tend to vary more in the short term so attract more attention from managers. So, if an EXPENSE is NOT a COGS or COS then it is an OPERATING EXPENSE and appears BELOW THE LINE. These OPERATING EXPENSES are NOT directly related to making a product or delivering a service. OPERATING EXPENSES are often referred to as OVERHEAD and includes such items as rent, utilities, telephone, internet, advertising, marketing, IT, etc. Buried in OPERATING EXPENSES is DEPRECIATION and AMORTIZATION. This is an area of great confusion so let’s take a closer look at this. The first point to remember is that DEPRECIATION is treated like an EXPENSE, so can dramatically affect the PROFIT on an INCOME STATEMENT. Plain and simple, DEPRECIATION is the “expensing” of a physical asset over its useful life. AMORTIZATION is the same as DEPRECIATION but applies to INTANGIBLE ASSETS like GOODWILL. There is considerable latitude and methods for how one can depreciate ASSETS, consultation with your ACCOUNTANT is critical here. Remember too that even for the same firm, DEPRECIATION can be calculated differently for TAX accounting vs. GAAP accounting. I won’t bore you with the details here, just appreciate that DEPRECIATION can be calculated in many different ways! DEPRECIATION is the best example of what we call a NON-CASH Expense! So, what’s up with that? This is one of the most confusing and misunderstood areas of your financial statements, but critical for you to understand. The key to unlocking this confusing concept is to remember that the CASH for the asset has already been paid out! The vehicle or piece of CAPITAL EQUIPMENT was paid for at the time it was acquired, but the total expense was not recorded in that month. Instead, the expense is divided, or allocated, over its useful life….a little at a time, month by month! That’s DEPRECIATION. Again, it is important to understand there are many ways to calculate the depreciation expense. The method chosen can have a profound impact on your PROFITS reported on the INCOME STATEMENT. KEY POINT HERE! Good financial managers will match the use of an asset, or its depreciation, with the revenue it is bringing in. If the depreciation exceeds its revenue then this asset is creating a loss, if revenue exceeds its depreciation , the asset is returning a profit, a goal we should be striving for. Next, let’s look at the 3 profits; Gross Profit, Operating Profit and Net Profit. GROSS PROFIT is REVENUE minus COGS or COS , and is a key number. It tells us about the profitability of your product or service. If profitability is not achieved here it is unlikely that your business will survive long. GROSS PROFIT must be enough to cover OPERATING EXPENSES, TAXES, FINANCING and of course NET PROFIT. So what is a healthy Gross Profit? How much is enough? This will vary considerably by industry and from one company to another even in the same industry. Having metrics and reports that allow you to follow year-to-year trends will help you identify whether your profit is heading up or headed down. If Gross Profit is decreasing one needs to ask why. Are your COGS or COS rising? Is Revenue decreasing due to lower fees, discounts, or lower insurance fee schedules? Understanding why helps managers determine where to focus their attention. OPERATING PROFIT is GROSS PROFIT minus OPERATING EXPENSES, including DEPRECIATION and AMORTIZATION. This is also know by the odd acronym EBIT (pronounced EE-Bit). This stands for EARNINGS before INTEREST and TAXES. Why are interest and taxes not included you may ask? OPERATING PROFIT is the PROFIT a firm makes from running the business. Taxes don’t contribute to how well you run your business. And interest expense depends on how the firm is financed, i.e., with debt or equity which is termed its CAPITAL STRUCTURE. EBIT is a closely watched metric since it is a good gauze of how well a firm is being managed. Another metric is EBITDA (EE-bid-dah), which is Earning before interest, Taxes, Depreciation and amortization. This is thought to be a better measure of a firm’s operating efficiency since it ignores NON-CASH Charges like depreciation and amortization altogether. We have just reviewed the bias and distortions that can be introduced calculating depreciation, so with EBITDA it is ignored. Finally we have arrived at the BOTTOM LINE, or NET PROFIT, which is what’s left over after everything is subtracted, COGS/COS, operating expense, non-cash expenses, interest, and taxes. This is the same number used to calculate EPS, earnings per share, and the PRICE/EARNINGS ratio used on WALL STREET. Finally, if the INCOME STATEMENT calculates our PROFIT, then it is logical to ask how can we MAXIMIZE OUR PROFIT? That’s a great question. My friend, Jason Andrews in his new book, STARK NAKED NUMBERS, provides us a great and quick analysis of this topic. Quick side bar here, Jason is a Chartered Accountant, who like me, is passionate about business owners extracting value from their financial statement data. You can find his book on Amazon and I will include a link in the show notes for you. I receive no royalties from this endorsement. Please check out his fresh perspective on accounting and finance. Jason identifies several financial levers which one can use to increase profitability; the SALES LEVER; either increase sales volume or increase price, and the COST LEVER; reduce DIRECT and/or INDIRECT COSTS. It is surprising the impact on profitability a 10% change in these levers has on NET PROFIT…listed from greatest impact to least impact and the % change are; Sales Lever, Increase price 10% increases net profit 53%. Direct Cost, decrease 10% increase net profit 37%. Operating Cost, decrease 10% increase net profit 26%. Sales Lever, Increase Sales 10% only increases net profit 16%. So the fastest and easiest way to increase your BOTTOM LINE is to INCREASE YOUR PRICES/FEES. Creating more business, or increasing sales, has the least effect. Let’s wrap this PodCast up with some useful take away points. Only When REVENUE from Services exceeds EXPENSES can profit be achieved. Buying gadgets, gizmos, latest and greatest equipment, a new office, the list can go on and on are all irrelevant, EXCEPT if the gadgets, gizmos, latest and greatest equipment and new office creates GREATER REVENUE, or LOWER EXPENSES. This is also called VALUE CREATION when the PRICE a customer is willing to pay is greater than the COST to make the product or deliver the service. VALUE, like PROFIT, can only be achieved when products are sold and services delivered. The #1 GOAL of any BUSINESS is to CONTINUOUSLY CREATE VALUE for their CUSTOMERS! The hardest part is the CONTINUOUS and CONSTANT need to always be CREATING VALUE! ACCELERATING DEPRECIATION, as in SECTION 179 depreciation we are all familiar with, creates a LARGE DEPRECIATION EXPENSE that reduces your PROFITS, NET INCOME and RETAINED EARNINGS. This is a TAX STRATEGY plain and simple and points out the difference between TAX ACCOUNTING and MANAGERIAL ACCOUNTING. Planning for this DEPRECIATION should be done every time capital equipment is acquired, NOT AT THE VERY END OF THE YEAR at the encouragement of highly motivated SALES PERSONAL. OVERHEAD PERCENTAGE is a metric that dentists can not stop talking about and comparing! As you see from the above discussion, there is no OVERHEAD LINE ITEM on an INCOME STATEMENT. OPERATION EXPENSES come close but what items do you include or exclude? There are as many variations in calculations as there are people calculating it. For me it is a non-precise metric that can be distorted. A better metric to monitor and tract overtime is GROSS PROFIT and OPERATING EXPENSES as a PERCENT OF GROSS PROFIT. Whatever metric for overhead you choose, it becomes more powerful when tracked and compared overtime. PROFITS are not CASH. A profitable firm can run out of cash and a cash rich firm can non-profitable. So that wraps things up for this Podcast.  Hopefully you have a better understanding of the mechanics of the INCOME STATEMENT. We hope that this information has created a few “Ah Ha” moments, or stimulated some additional questions you can direct to your advisers or accountants.  We welcome your inquiry here too at OmniStar Financial.  Our contact information can be found at our website OmniStarfinancial.com  .  You will also find a link to sign up for our newsletter.  Please share this podcast if you found it helpful, and leave a review on iTunes too.  We welcome your feed back and suggestions for future podcast sessions.  You can always find me, your host, david darab, at my twitter handle, @ddarab. Thank you so very much for tuning in and listening.  We are very grateful for your time and attention and so very pleased to have you in our audience. REFERENCES: Financial Intelligence, Revised Edition: A Manager’s Guide to Knowing What the Numbers Really Mean: Karen Berman, Joe Knight, John Case: 8601406238220: Amazon.com: Gateway Stark Naked Numbers: Uncover Your Financials, Unlock Your Cash, and Unleash Your Profits: Mr Jason Frederick Andrew: 9780648424000: Amazon.com: Books

Business Growth Radio - Solutions on Demand
GIP 2019 Article #3 Accounting & Invoicing

Business Growth Radio - Solutions on Demand

Play Episode Listen Later Mar 11, 2019 26:00


In Article 1 we over viewed the documents you should receive monthly; whether provided by an accountant or from a software package. Article 2 focused on Staying Profitable. This article starts at the strategic level on the types of accounting and then moves to how to make it work for you. There are 2 types of Accounting, Financial and Managerial. Financial Accounting is well known to most business owners. It meets the requirements of investors, creditors, and government taxing agencies. The standards for proper Financial Accounting in the United States are set by the Financial Accounting Standards Board (FASB). Financial Accounting is a legal requirement and you must play by its rules. Managerial Accounting is not ruled by any standards except common sense. There are several models employed like ABC (Activity Based Costing) and are unique company to company. So what is it? It takes the same numbers and recasts it to track true costs by step, activity, product / service line, or customer. It provides you with the total cost of each step in a process. At this point you should ask yourself - why do I need to know this? The why is your ability to answer the following questions: Who are our most profitable customers? What are our most profitable products (services)? Are our products (services) correctly priced?

Managerial Accounting Lectures - Professor Myles Bassell

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Managerial Accounting Lectures - Professor Myles Bassell

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Managerial Accounting Lectures - Professor Myles Bassell

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Managerial Accounting Lectures - Professor Myles Bassell

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Managerial Accounting Lectures - Professor Myles Bassell

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Managerial Accounting Lectures - Professor Myles Bassell

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Managerial Accounting Lectures - Professor Myles Bassell

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Managerial Accounting Lectures - Professor Myles Bassell

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Managerial Accounting Lectures - Professor Myles Bassell

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Evolve ETFs: The Innovators Behind Disruption with Raj Lala
Artificial Intelligence (AI) with Stuart Sherman & Raj Lala

Evolve ETFs: The Innovators Behind Disruption with Raj Lala

Play Episode Listen Later May 8, 2018 22:37


Discover how big data has changed over the last 10 years and why it matters, the differences between machine learning and artificial intelligence, what Watson aims to accomplish (an IBM supercomputer that combines AI and analytical software), and more with Stuart Sherman, CEO, IMC Inc., and Raj Lala, President & CEO of Evolve ETFs. • About Stuart Sherman • Stuart runs one of the most innovative AI companies in the world, pioneering two new classes of AI, “Behavioural AI”, an “Simulation AI”. Having studied Managerial Sciences in university, specifically the aspects of Managerial Accounting relating to Behavioural Economics, and Organisational Behaviour. Stuart went on to start an early Management Information Services company and founded one of Canada’s first Digital Agencies. Today you will find him working with some of the worlds’ largest companies, designing and implementing AI designed to change the way they understand their Big Data.

UNL BeefWatch
Managerial Accounting and Key Performance Indicators for the Ranch

UNL BeefWatch

Play Episode Listen Later Mar 21, 2018 32:40


[MAC] Managerial Accounting
[MAC01B-ID] Managerial Accounting, Business Environment, and Cost Concepts

[MAC] Managerial Accounting

Play Episode Listen Later Jan 11, 2018 7:34


Managerial Accounting Course is a strategic business which focus on profits (financial statement), process (customer focus and satisfaction), people (learning and satisfaction), and planet (environmental stewardship). Managerial accounting course describes an overview of the role of managerial accountants in the organization and their skills, include managing risks and implementing strategy, from cost-volume-profit relationships, variable costing, activity-based costing, profit planning, flexible budget, standard cost, segment reporting, relevant cost, transfer pricing. Credit title: Subject Matter Expert : Setiani Putri Hendratno Dokumenter: Binus University Uploaded by: Knowledge Management and Innovation Binus University

Howard Farran DDS, MBA
Day 23: Understanding Managerial Accounting

Howard Farran DDS, MBA

Play Episode Listen Later Nov 25, 2015 67:12


This chapter of Dr. Farran's timeless 1999 "Your 30-Day Dental MBA" will provide the foundation accounting principles. Understand why your accountant should have an incentive to make you understand accounting. Learn how to decrease stress and anxiety per every unit of increase in getting the financial house in order.

The Freelancers' Show
161 FS Budgeting

The Freelancers' Show

Play Episode Listen Later Jun 25, 2015 75:49


02:02 - “Budgeting” 04:01 - Incentive Jesse Mecham 11:09 - Time Cost/Emotional Cost 14:47 - Approaching a Budget YNAB Features (Desktop) YNAB for iPhone YNAB for iPad YNAB for Android 21:31 - Keeping Up a Budget (Discipline) Financial Accounting Managerial Accounting 39:14 - Amending Budgets Budgeting for Taxes Depreciation Expenses 46:19 - Expense Division? Dave Ramsey 54:15 - Getting Started Buy YNAB 55:56 - Default Questions Cash Flow Statement Is it worth it? Do I have enough extra to invest? 59:34 - Reconciling Accounts (Transfers) Using PayPal Picks The Positioning Manual for Technical Firms by Philip Morgan (Jonathan) Econtalk (Reuven) Blair Enns: 5 Reasons You Should Offer Guarantees (Eric) YNAB (Chuck) Serial Podcast (Chuck) Startups For the Rest of Us (Chuck) Aftershokz AS500 Bluez 2 Open Ear Wireless Stereo Headphones (Chuck)  

Devchat.tv Master Feed
161 FS Budgeting

Devchat.tv Master Feed

Play Episode Listen Later Jun 25, 2015 75:49


02:02 - “Budgeting” 04:01 - Incentive Jesse Mecham 11:09 - Time Cost/Emotional Cost 14:47 - Approaching a Budget YNAB Features (Desktop) YNAB for iPhone YNAB for iPad YNAB for Android 21:31 - Keeping Up a Budget (Discipline) Financial Accounting Managerial Accounting 39:14 - Amending Budgets Budgeting for Taxes Depreciation Expenses 46:19 - Expense Division? Dave Ramsey 54:15 - Getting Started Buy YNAB 55:56 - Default Questions Cash Flow Statement Is it worth it? Do I have enough extra to invest? 59:34 - Reconciling Accounts (Transfers) Using PayPal Picks The Positioning Manual for Technical Firms by Philip Morgan (Jonathan) Econtalk (Reuven) Blair Enns: 5 Reasons You Should Offer Guarantees (Eric) YNAB (Chuck) Serial Podcast (Chuck) Startups For the Rest of Us (Chuck) Aftershokz AS500 Bluez 2 Open Ear Wireless Stereo Headphones (Chuck)  

Stories from the Stacks
Stories From The Stacks: Shinichi Korogi on the development of managerial accounting

Stories from the Stacks

Play Episode Listen Later Nov 26, 2014 4:04


In this interview, Dr. Shinichi Korogi discusses his research into the development of managerial accounting, and his use of materials from the DuPont company papers in the Hagley Library for his project. Dr. Korogi is a professor in the Commerce Department of Kurume University. Stories from the Stacks is an ongoing program from the Center for the History of Business, Technology, and Society featuring interviews with researchers who share the excitement of discovering the rich and varied historical materials in the Hagley Library’s collections. Listen to additional episodes at www.hagley.org/storiesfromthestacks.

MBA Essential
MANAGERIAL ACCOUNTING

MBA Essential

Play Episode Listen Later Jul 5, 2014 26:15


Information Systems Implementation - Fall 2010
Intro to Financial Accounting, part 1

Information Systems Implementation - Fall 2010

Play Episode Listen Later Sep 16, 2010 58:02


Financial vs. Managerial Accounting, FI integration within SAP ERP, General Ledger, Reconciliation Accounts

Saint Mary's College MBA Podcasts
302 - Lecture from Managerial Accounting - Part V

Saint Mary's College MBA Podcasts

Play Episode Listen Later Sep 20, 2007 5:07


Managerial Accounting - Dennon

Saint Mary's College MBA Podcasts
302 - Lecture from Managerial Accounting - Part IV

Saint Mary's College MBA Podcasts

Play Episode Listen Later Sep 20, 2007 10:13


Managerial Accounting - Dennon

Saint Mary's College MBA Podcasts
302 - Lecture from Managerial Accounting - Part III

Saint Mary's College MBA Podcasts

Play Episode Listen Later Sep 20, 2007 10:01


Managerial Accounting - Dennon

Saint Mary's College MBA Podcasts
302 - Lecture from Managerial Accounting - Part II

Saint Mary's College MBA Podcasts

Play Episode Listen Later Sep 20, 2007 10:02


Managerial Accounting - Dennon

Saint Mary's College MBA Podcasts
302 - Lecture in Managerial Accounting Part I

Saint Mary's College MBA Podcasts

Play Episode Listen Later Sep 20, 2007 10:01


Managerial Accounting - Dennon

Betriebswirtschaft - Open Access LMU - Teil 01/02
Multi-Period Produktion Planning and Managerial Accounting

Betriebswirtschaft - Open Access LMU - Teil 01/02

Play Episode Listen Later Jan 1, 1991


Tue, 1 Jan 1991 12:00:00 +0100 http://epub.ub.uni-muenchen.de/4872/ http://epub.ub.uni-muenchen.de/4872/1/4872.pdf Küpper, Hans-Ulrich Fandel, Günter (Hrsg.) (1991): Multi-Period Produktion Planning and Managerial Accounting. Theory and Applications, Proceedings of an International Conference, August 20-24, 1990, Fernuniversität Hagen. Betriebswirtschaft