More drivel from WebCPA! In an article entitled In search of lost time: Five ways CPAs can increase their billable hours - and their profitability, Brett Owens (who I am sure is a very nice person) states:

The numbers tell the story and it all boils down to time management. If you bill for your time directly or on an hourly basis, diligent timekeeping is something you must do in order to get paid for all of the work you perform for clients. If you bill on a fixed-fee basis, accurate time records help determine how profitable specific clients and projects really are - and if they're unprofitable, time records help us realize the viability of a client for the long term.

No, no, a thousand times no! Oh, when will this obsession with Marxism end!

Value (or cost) does not equal rate times hours. It never has and it never will.