As a CPA with over 30 years of accounting experience, I certainly had to swallow my pride as I read this book. Dr. Lee provides compelling evidence that you cannot rely on accounting information alone to make cash decisions.
—Michael HalesChief Financial OfficerNorthern Kentucky University
Epictetus, a Greek Stoic philosopher, is reported to have said that many things in this world are not and yet appear to be. Such is the case with many of our traditional definitions and descriptions of “cost savings” as described in so many accounting texts. Dr. Lee has taken a page from Epictetus in pointing out that we need a new paradigm of defining a “cost saving” if we are going to really provide the necessary information needed to manage ...
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