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Cost Accounting, R.I.P.: Cost Accounting Is Opinion, Cash Flow Is Fact 2023 WEBCAST


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4.0 Credits

Member Price $159.00

Non-Member Price $209.00


Organizations often focus on cost accounting data but don’t look at all the factors that influence that data. As a result, vast sums are spent to allocate costs that have nothing to do with cash. Instead, start with value, determine price, then justify costs that can incur profits. Since you can calculate different costs using the same data, it’s evident that costs do not represent cash. Cost accounting confuses metrics with measurements. There are three primary reasons cost accounting is a bad practice: You have to create and force math and relationships that do not exist. By doing this, you lose touch with your operations. You make meaningless numbers that people consider as gospel when in reality, they are nothing but opinions. A company needs to start with value, then determine price, which justifies the costs that can be profitably incurred to produce a good or service. It seems obvious to constrain a company with a final price before you incur any costs, yet this practice has yet to be widely followed, despite its proven successes. Costs are undoubtedly essential, but the crucial distinction is when they are viewed and what measures to use.


Modeling cash flow and capacity. Adaptive Capacity Model. Segall’s Law.



Designed For

Accounting and financial professionals.


Identify why modeling cash flow and capacity is superior to cost accounting. Recognize the Adaptive Capacity Model. Determine the difference between metrics and measurements. Recognize Segall’s Law A person with one watch knows what time it is; a person with two watches is never quite sure.






Leader Bios

Daniel Morris, California CPA Education Foundation

Daniel Morris is a sought after global expert in multi-national business structuring, tax optimization, and asset protection. Leveraging over 30 years of holistic accounting, tax, and business advisory services to successful entrepreneurial and family-based enterprises, he serves emerging and middle markets. Dan began his accounting career in 1984 at Ernst & Young in Silicon Valley, California. Today, he coordinates his services by leading Morris + D’Angelo, a Silicon Valley and Los Angeles based accounting and tax specialization firm. Additionally, Dan leads the consulting services for Strategic Global Advisors, a Nassau based global tax and business structuring advisory service, and is a co-founder of the VeraSage Institute, a think tank dedicated to assisting the professions and knowledge workers. As a frequent speaker at conferences, leadership development events, and seminars, and a consultant to professional service firms on ethics, implementing global business strategies, asset protection, emerging technologies, total quality service, cryptocurrencies and the blockchain, and value pricing, his work takes him around the world. He has been an educator with numerous professional associations and has authored, developed, and presented 50 courses, seminars, and conferences. As the Chair of the Regulatory Working Group for the Accountants Blockchain Coalition, Dan is actively engaged in all aspects of the blockchain and its associated parts. He has assisted over a dozen blockchain related enterprises including designing the global structure for DASH along with coordinating multiple ICO and/or pre-ICO engagements. Dan is a Master’s candidate with London Law University in their Private Wealth Advising program (anticipated degree 2019). Dan received his Bachelor of Science from the University of Oregon. Dan is active with the California Society of CPAs and the AICPA. Dan has helped establish a number of Silicon Valley start-ups including Signio that was acquired by Verisign for $1.2 billion in 2000. Dan is regularly interviewed by local, national, and international media and has global responsibilities for client services in the areas of business structuring, tax optimization strategies, asset protection design, distributed ledger technologies, and strategic management consulting for closely-held businesses.

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Non-Member Price $209.00

Member Price $159.00