Last week we had a critical discussion on the use of BI tools and embedded analytics in decision-making. This week we dive deeper and explore BI tools and cost-volume-profit (CVP) analysis. COVID is an excellent example of how business processes and the business environment are changing in Canada and around the world. You have discussed in detail the risks associated with business processes. Within these diverse dynamics (i.e., COVID, risks, fraud, etc.), managers are de-risking their business model to create new levers of profitability. As managers leverage different revenue sources, cost reductions are being driven by various means. Part of this change meant that accounting is also changing. CVP, in particular, is becoming increasingly crucial in managerial decision-making. Do you think managers will still have use for the CVP income statement with the increased use of BI and embedded analytics? Does your company (or any other company) that you previously worked for require a CVP income statement?
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