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Managerial Accounting and MSPs

                Management accounting refers to accounting that helps business managers make decisions through measurement and analysis (What is Managerial Accounting?, n.d.).   In the managed IT services company where I work, management accounting helps establish a strategy, budget, goals/targets, and key performance indicators (KPIs).  These tools help tie individual and team performance to the business performance.Continue reading “Managerial Accounting and MSPs”

Premium Pricing and Luxury Products

                Two examples of brands that where manufacturing costs are well below selling price are Hermès (luxury fashion) and Beats (high-end consumer electronics).  Beats headphones are often over $200 in stores but cost $20 in materials and manufacturing costs (Schiesser, 2015).  Likewise, a Hermès handbag that costs $4800 in stores only costs $180 to manufactureContinue reading “Premium Pricing and Luxury Products”

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