Finance Articles
Expect More from Your Annual Audit

Expect More from Your Annual Audit

Many manufacturing executives consider their annual audit to be a process that adds little value and distracts from management’s priorities. However, despite time-consuming procedures that are part of every audit due to regulatory and professional standards, a good...

Double-Digit High

Double-Digit High

The situation A few weeks ago, a quote request arrived for a new product.  It had high volumes, and it was an excellent fit for your facility. You ran it through your estimating program, submitted your price, and then you got the dreaded call.  The buyer told you,...

Planning is great, but budgeting???

Planning is great, but budgeting???

It’s mid-October, and as I write this I’ve had an item on my to-do list for a month that says “Update 4th quarter plan”, and another that says, “Prepare 2021 plan”.  My brain tells me that I should do it, but I always seem to find something else that is supposedly...

Should we kill this product line?

Should we kill this product line?

I hear it all the time.  We're losing our tail on this product.  Should we kill it?  The question is well-intended, but often the analysis that leads to the answer is misguided.  Companies that rely on standard cost systems to understand product costs, which is the...

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