Accounting & Finance
How-to Part 5 – Developing an Action Plan for Low Profit Products.
Knowing which products are selling below their variable cost is critical to improving profitability. But there may be a strategic reason to continue selling the unprofitable products. The key is to know the “why” and make informed decisions to ensure the loss leaders aren’t loss bleeders.
Gross Profit Improvement “How To” Part 4 – Variable Cost
We lose money on every sale but we make up for it in volume” is an old and tired manufacturing joke. And it is no laughing matter if it is your company. Knowing your variable costs and gross margin is necessary, but not sufficient. Knowing your gross profit by SKU is a key to uncovering hidden profits within your business.
Gross Profit Improvement “How To” Part 3 – Adding Context to a Scatter Plot
Is $1,000 a lot of money? The answer depends on the context. To a 5 year old, it is a king’s ransom. To a $50m manufacturer, it’s 3 minutes worth of revenue. The context matters. In this month’s video, we introduce a variable cost line to our scatter plot chart to add context to our analysis of product and customer profitability. Not all revenue is good revenue. Let the data lead you to the hidden opportunities to improve your profitability.
Gross Profit Improvement “How To” Part 2 – Scatter Plots
Managing strictly from a spreadsheet or a P&L statement is SOOO 20th century. This month’s video shows that data visualization is easier than you think and makes the consumption and digestion of your company’s performance more intuitive. Let the data lead you to the hidden opportunities to improve your profitability.
Gross Profit Improvement “How To” Part 1 -Beware of the Silent Business Killer – Margin Erosion
What’s your number? This is not a cheesy pick-up line or an inquiry about your Sleep Number bed setting. It is a serious question. The
IRS Postpones April 15 U.S. Tax Deadline to May 17
The IRS is planning to push back the deadline for filing tax returns by about one month, originally thought to be May 15, from the
MAP Sponsor Stephano Slack, Certified Public Accountants