Chapter 1
Managing Profit
IN THIS CHAPTER
Exploring the profit-making function of business managers
Scoping the field of managerial accounting
Centering on profit centers
Making internal P&L reports useful
Analyzing profit for fun and more profit
As a manager, you get paid to make profit happen. That’s what separates a manager from the other employees at a business. A manager, of course, should be a motivator, innovator, consensus builder, lobbyist, and maybe sometimes babysitter, but the hard-core purpose of your job is to make and improve profit. No matter how much your staff loves you (or do they love those doughnuts you bring in every Monday?), if you don’t meet your profit goals, you’re facing the unemployment line.
Competition in most industries is fierce, and you can never take profit performance for granted. Changes take place all the time — changes initiated by the business and changes from outside forces. Maybe a new superstore down the street is causing your profit to ...
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