In this episode, Dr. Reginald Tomas Lee explains why cash and profit are not the same. Cash is the life blood of a business. It drives daily operational decisions. Profit, on the other hand, is a relative metric (not measurement), dependent on the cost formula chosen. Executives and managers need to understand the difference and when to use each one.

About Dr. Reginald Tomas Lee

Dr. Lee is Professor of Operations and Management at Xaiver University. He is the author of five books including Lies, Damned Lies, and Cost Accounting and his latest Strategic Cost Transformation.

Reginald started his career as an engineer at IBM, and then worked in supply chain management at Ernst & Young. His consulting customers include Disney, DuPont, Home Depot and Toyota.

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