Financial decisions are made by answering two key questions:
- Did we make money?
- Will we make money?
However, it’s no secret that conventional, cost-based systems do not answer these questions reliably.
In this presentation we’ll go deep, to the foundation that underlies all cost-based systems to examine the fundamental flaws inherent in each of them. We’ll also demonstrate to what extent these systems have been embedded in the culture of our companies, from the shop floor to the ERP system to the C-Suite.
We will review the following in this event:
- Goldratt’s P&Q Problem
- The fundamentals of Throughput Accounting
- Decision-making with T, I, and OE
Meet your presenters:
Brad Stillahn developed the world’s first comprehensive system for costing, quoting, and pricing to make more money based on the Theory of Constraint’s (TOC) Throughput Accounting as the owner of Adstick Custom Labels in the late 1990s. With Science of Business, he expanded the Velocity Pricing System to ensure that it would work universally for complex custom job shops, machine shops, and custom manufacturers of all sizes, types, in a wide variety of industries.
Brad is TOCIO certified as a TOC Expert, is a Certified Exit Planner (CExP) by the Business Enterprise Institute and has APICS certifications in Production and Inventory Management (CPIM) and Integrated Resource Management (CIRM). He received his MBA from Washington University in St. Louis.
Brad is the founder of the Velocity Pricing System and developed the body of knowledge around Throughput-based Pricing.
Beau Ganas is the Throughput Accounting Guru and a co-founder of the Velocity Pricing System! He’s a CPA, Certified Management Accountant, Certified Information Systems Auditor and is TOCICO certified as a TOC Expert. He holds degrees in accounting, management information systems, and a master’s in taxation from the University of Georgia.
During his tenure in public accounting, Beau specialized in the application of cost accounting to internal decision making and external reporting. He understands every aspect of financial management in great detail, and every costing method in between, both for external financial reporting and internal decision making.
