Episode 112 - Lies, Damned Lies, and Cost Accounting: Interview with Dr. Reginald Lee

We are pleased to have the chance to interview Dr. Reginald Lee, author of 'Lies, Damned Lies, and Cost Accounting: How Capacity Management Enables Improved Cost and Cash Flow Management,' and the founder of the Cash Flow Innovation Lab. Companies need cash flow to sustain themselves and to grow. Cost accounting was created to help determine the cost of products, services, and activities. For optimal cash performance, cost accounting is not the answer. Allocations and accruals create a gap between cash and what accounting reports. The answer? Don't allocate costs. The Lab's R and D objective is to create models that do not allocate costs and offer the same, and even better cost and cash flow data than you currently have. Join Ed and Ron as they discuss the further loss of relevance of cost accounting to businesses everywhere.