The Essential Controller - An Introduction to What Every Financial Manager Must Know

Informationen zum Autor Steven M. Bragg, CPA , has been the chief financial office or controller of four companies, as well as a consulting manager at Ernst & Young and auditor at Deloitte. He is the author of over thirty books primarily targeted toward controllers and their needs. Bragg received a master's degree in finance from Bentley College, an MBA from Babson College, and a bachelor's degree in economics from the University of Maine. Klappentext Quick-reference guidance showing new controllers how to enhance performance while avoiding pitfallsDesigned to give new controllers a firm foundation in the concepts of managing the accounting department, locating GAAP information, and analyzing and knowing what to do with key accounting information, The Essential Controller, Second Edition is the invaluable primer you can turn to for the foundation you need to succeed. Whether your business is large, small, or medium-sized, this volume provides a complete overview of the controller's responsibilities and the role that today's controllers should be playing.* Offers new coverage of finance strategy* Updates taxation strategy* Includes a new controller checklist* Quick reference guide that controllers can turn to* Also by Steven M. Bragg: The Controller's Function: The Work of the Managerial Accountant, Fourth EditionThe Essential Controller, Second Edition is the go-to handbook that you will use every day for dealing with the everyday issues facing today's controllers. Zusammenfassung Provides new controllers with a foundation in the concepts of managing the accounting department, locating GAAP information, and analyzing and knowing what to do with key accounting information. This title also provides an overview of the controller's responsibilities. Inhaltsverzeichnis Preface ix Chapter 1 Accounting in the Corporation 1 Importance of This Chapter 1 Tasks of the Accounting Function 2 Role of the Accounting Function 5 Role of the Controller 6 Impact of Ethics on the Accounting Role 8 Evolving Role of Accounting 12 Chapter 2 Controller's Responsibilities 13 Importance of This Chapter 13 Variations on the Title 14 Planning Function 14 Control Function 16 Reporting Function 17 Accounting Function 17 Additional Controller Functions in Smaller Companies 18 Controller's Job Description 22 Relationship of the Controller to the Chief Financial Of cer 24 Future Changes in the Controller's Origins and Responsibilities 26 Managing Rapid Growth 28 Chapter 3 Chief Financial Of cer: From Controller to Facilitator of Change 31 Importance of This Chapter 31 Understanding What Chief Executive Of cers Want 32 Task of the CFO 32 Develop and Communicate a Compelling Finance Agenda 33 Build a Commitment to Change within Finance 36 Change Executive Management Practices 40 Enlist the Support of the Chief Executive Of cer 42 Mobilize the Organization 44 Institutionalize Continuous Improvement 46 Chapter 4 Operational Accounting 49 Importance of This Chapter 49 Create Departmental Job Descriptions 50 Create a Departmental Training Program 52 Clear Out Excess Documentation 55 Streamline the Accounting Work- ow 56 Document All Major Processes 58 Correct the Underlying Causes of Errors 59 Use Best Practices 62 Outsource Selected Accounting Functions 64 Chapter 5 Cost Accounting and Costing Systems 71 Importance of This Chapter 71 Purpose of Cost Accounting Information 72 Input: Data Collection Systems 73 Processing: Data Summarization Systems 77 Processing: Job Costing 79 Processing: Process Costing 87 Processing: Standard Costing 90 Proce...

List of contents

Preface ix
 
Chapter 1 Accounting in the Corporation 1
 
Importance of This Chapter 1
 
Tasks of the Accounting Function 2
 
Role of the Accounting Function 5
 
Role of the Controller 6
 
Impact of Ethics on the Accounting Role 8
 
Evolving Role of Accounting 12
 
Chapter 2 Controller's Responsibilities 13
 
Importance of This Chapter 13
 
Variations on the Title 14
 
Planning Function 14
 
Control Function 16
 
Reporting Function 17
 
Accounting Function 17
 
Additional Controller Functions in Smaller Companies 18
 
Controller's Job Description 22
 
Relationship of the Controller to the Chief Financial Of cer 24
 
Future Changes in the Controller's Origins and Responsibilities 26
 
Managing Rapid Growth 28
 
Chapter 3 Chief Financial Of cer: From Controller to Facilitator of Change 31
 
Importance of This Chapter 31
 
Understanding What Chief Executive Of cers Want 32
 
Task of the CFO 32
 
Develop and Communicate a Compelling Finance Agenda 33
 
Build a Commitment to Change within Finance 36
 
Change Executive Management Practices 40
 
Enlist the Support of the Chief Executive Of cer 42
 
Mobilize the Organization 44
 
Institutionalize Continuous Improvement 46
 
Chapter 4 Operational Accounting 49
 
Importance of This Chapter 49
 
Create Departmental Job Descriptions 50
 
Create a Departmental Training Program 52
 
Clear Out Excess Documentation 55
 
Streamline the Accounting Work- ow 56
 
Document All Major Processes 58
 
Correct the Underlying Causes of Errors 59
 
Use Best Practices 62
 
Outsource Selected Accounting Functions 64
 
Chapter 5 Cost Accounting and Costing Systems 71
 
Importance of This Chapter 71
 
Purpose of Cost Accounting Information 72
 
Input: Data Collection Systems 73
 
Processing: Data Summarization Systems 77
 
Processing: Job Costing 79
 
Processing: Process Costing 87
 
Processing: Standard Costing 90
 
Processing: Direct Costing 93
 
Processing: Throughput Costing 96
 
Processing: Activity-based costing 101
 
Processing: Target Costing 103
 
Outputs: Cost Variances 107
 
Chapter 6 Ratio and Trend Analysis 113
 
Importance of This Chapter 113
 
How to Use Ratios and Trends 114
 
A Caveat 115
 
Measures for Pro tability 118
 
Measures for the Balance Sheet 122
 
Measures for Growth 128
 
Measures for Cash Flow 129
 
Measures for Non nancial Performance 132
 
Interrelationship of Ratios 152
 
Setting Up a System of Ratios and Trend Analyses 154
 
Chapter 7 Internal Control Systems 157
 
Importance of This Chapter 157
 
Objectives 158
 
Responsibility for Internal Controls 159
 
Examples of Internal Controls 161
 
When to Eliminate Controls 164
 
Types of Fraud 167
 
Preventing Fraud 169
 
How to Deal with a Fraud Situation 174
 
Foreign Corrupt Practices Act 176
 
Chapter 8 The Fast Close 179
 
Importance of This Chapter 179
 
Different Types of Fast Close 180
 
How to Achieve a Fast Close 181
 
Enhanced Closing Process 196
 
Chapter 9 Internal Audit Function 197
 
Importance of This Chapter 197
 
Reporting Relationships 198
 
Composition of the Audit Committee 199
 
Role of the Audit Committee 201

Product details

• Authors: , Babson College, Bragg, Sm Bragg, Steven M Bragg, Steven M. Bragg, Steven M. (Bentley College Bragg, BRAGG STEVEN M, Bragg Steven M.
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Paperback / Softback
• Released: 10.04.2012
• EAN: 9781118169971
• ISBN: 978-1-118-16997-1
• No. of pages: 320
• Series: Wiley Corporate F&A; Wiley Corporate F&A (Unnumbere; Wiley Corporate F&A
• Subjects: Social sciences, law, business > Business > Business administration; Controlling, Rechnungswesen, Accounting, Corporate/Managerial Accounting