I love this line about bureaucracy:
“One of Peter’s Principles is that bureaucracy defends the status quo long past the time when the quo has lost its status. Cost accounting does not deserve to be the apotheosis of pricing, nor firm management. It focuses leaders’ limited attention on absolutely the wrong things.”
“The goal is to generate cash profit, not accounting profit.”
Reginald Tomas Lee also wrote Lies, Damned Lies, and Cost Accounting.