The standard volume, companion to the trilogy
The Friction Economics Standard
IACS-7 Applied Across Twelve Industries, with Worked Books, Audit Files and Board Disclosures
Revenue has an accounting standard. Cost has one. The cost of friction in the customer relationship has none, so a board rarely sees it and nobody signs for it. This volume sets one out: IACS-7, the standard behind the three books of the trilogy.
Inside: The Standard itself, from the register that defines every term to governance and disclosure; twelve industries worked in the same nine sections, so any two can be compared; a 180-day adoption path; and a chapter that states the limits of the Standard and what data would refute it.