Details

The Essential Controller

An Introduction to What Every Financial Manager Must Know
Wiley Corporate F&A, Band 582 2. Aufl.

von: Steven M. Bragg
38,99 €
Verlag:	Wiley
Format:	PDF
Veröffentl.:	23.02.2012
ISBN/EAN:	9781118226858
Sprache:	englisch
Anzahl Seiten:	288

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Beschreibungen

Titelbeschreibung

Quick-reference guidance showing new controllers how to enhance performance while avoiding pitfalls Designed 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. <ul> <li>Offers new coverage of finance strategy</li> <li>Updates taxation strategy</li> <li>Includes a new controller checklist</li> <li>Quick reference guide that controllers can turn to</li> <li>Also by Steven M. Bragg: The Controller's Function: The Work of the Managerial Accountant, Fourth Edition</li> </ul> The 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.

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 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 Internal Audit Objectives 203 Internal Audit Activities 206 Managing the Internal Audit Function 209 Chapter 10 Recruiting, Training, and Supervision 215 Importance of This Chapter 215 Recruiting Sources 216 Factors to Consider When Recruiting 219 Factors to Consider When Promoting 221 Importance of Reduced Turnover 223 Importance of Developing Career Plans for Employees 228 Importance of Communications with Employees 231 How to Motivate Employees 233 Chapter 11 Controller’s Role in Investor Relations 235 Importance of This Chapter 235 Objectives of the Investor Relations Function 236 Evolving Nature of the Function 237 Communication Vehicles for Investor Relations 238 Investor Relations Message Recipients 239 Information Needs of the Financial Analyst 240 Information Needs of Other Groups 243 Disclosure Policy 243 Organization Structure for Investor Relations 245 Role of the Controller and Other Principals 246 Some Suggested Financial Market Objectives 250 Some Suggested Methods 251 Chapter 12 Taxation Strategy 253 Importance of This Chapter 253 Accumulated Earnings Tax 255 Cash Method of Accounting 256 Inventory Valuation 257 Mergers and Acquisitions 258 Net Operating Loss Carryforwards 259 Nexus 261 Project Costing 262 Property Taxes 262 S Corporation 263 Sales and Use Taxes 264 Transfer Pricing 266 Unemployment Taxes 269 About the Author 271 Index 273

Autorenportrait

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.

Back cover copy

Your crash course to mastering your new role as controller “Steven Bragg’s The Essential controller: An Introduction to What Every Financial Manager Must know, Second Edition has a broad coverage of topics in the environment of accounting, financial management, financial leadership, and corporate governance, making it a critical resource. The text is written in a clear and concise style with insights into practical situation soften encountered in the world of corporate controllership and the customary financial management role such as policies, procedures, shareholder value, value added reporting, advising management, and compliance that are applicable across a wide industry spectrum.” – John G. Herndon, consultant on accounting, finance, tax, ERP, and venture capital; Adjunct Professor, Accounting and Finance, college of Business and Economics, California State University, East Bay “Mr. Bragg has solved the mystery of what a CFO, controller, and financial analyst are. This book is a must-read for any CEO challenged by financial roles and responsibilities, and what they should expect from their financial staff. It offers clear and concise prose that ensures actionable and achievable results within your financial department. – Ken Koch, CEO, Business Resource Management, Inc. Prolific accounting author Steven Bragg shows us how to: <ul> <li>Implement efficient practices for managing the accounting department</li> <li>Analyze information through the use of ratio and trend analysis</li> <li>Pinpoint the resolve control problems through control systems changes</li> <li>Work with the internal audit group</li> <li>Recruit, hire, promote, and motivate your accounting team</li> <li>Collaborate with company investors, including the use of a standard disclosure policy</li> </ul> This Second Edition of The Essential Controller includes new coverage of accounting standards codification, finance strategy, update taxation strategy, and internal control flowcharts. Learn the ins and outs of controller ship while avoiding potentially catastrophic pitfalls with expert guidance found in The Essential controller, Second Edition.