The Monetary Value of Time: Why Traditional Accounting Systems Make Customers Wait - Hardcover

by Joyce I. Warnacut (Author)

Although there are many books on alternative accounting methods, such as Lean accounting, none focus on the impact of time and how accounting practices can be modified to acknowledge the power of time. This book addresses this need. It presents a framework for assessing the value of time in terms of organizational strategy and competitive advantage. The framework presented will enable organizations to develop consistent measures and ensure that their cost accounting system isn't motivating behaviors that add to lead time and make customers wait. The framework outlined in this book is relevant to the managerial and cost accounting practices in today's manufacturing environment.

Author Biography

Joyce I. Warnacut has over 30 years of experience in manufacturing firms serving as controller, CFO, and vice president. Warnacut is a graduate of Indiana University with a degree in accounting. She completed the requirements for her license as a certified public accountant in Wisconsin in 1983. Additionally, Warnacut completed the requirements for the APICS (The Association for Operations Management) certificate in production and inventory management in 1990. More recently, Warnacut attained the leadership level of certification in QRM (Quick Response Manufacturing) as awarded by Tempus Institute. Warnacut currently serves as Director of Finance for Germanna Community College in Locust Grove, Virginia.