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In this interview with Nic Guerra, the unortodox accountant, Stephen an Frank learn about a new type of accounting...cost accounting. Frank never heard the term before.  The biggest learning: cost is proactive. 

The conversation delves into the critical distinction between cost and spend, emphasizing the need for a deeper analysis of variances in financial management. It highlights the importance of recognizing inefficiencies as opportunities for improvement, particularly in the context of cloud computing and resource allocation.

Takeaways

  • Cost is not the same as a spend.
  • There shouldn't be a taboo about inefficiencies.
  • Understanding variances can lead to better financial decisions.
  • Financial management requires a nuanced understanding of costs.


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