Tooling up the factory of the future

Article Abstract:

A new form of management accounting for manufacturing is developed which emphasizes throughput, factory cost, and focal-point costing instead of standard costing, and the direct and indirect concept. Under the new method, overall factory productivity is measured by comparing total direct attendance minutes minus breaks to throughput minutes produced. Profit is viewed as a function of the time used to get items to consumers and is inversely dependent on inventory levels. And relative product profitability is determined from the difference of the contribution per minute compared to the total factory cost per minute.

Analysis, Manufacturing industry, Manufacturing industries, Accounting and auditing, Productivity accounting, Managerial accounting

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Secondment: the way to learn from each other

Article Abstract:

The similarities between accounting and marketing departments are greater than they seem, and they have in common the need to promote company profitability and return-on-investment. The accountant and marketer should be briefly cross-trained in each other's on the job functions. The training should be approved and monitored by the CEO. The training should be conducted by the heads of the host departments, lasting long enough to make a real impression. Participants should be given real jobs to do.

Innovations, Human resource management, Accounting, Marketing, Occupational training

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