Steven M. Bragg

The Essential Controller (eBook, PDF)

An Introduction to What Every Financial Manager Must Know

• Format: PDF

Produktbeschreibung

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. * 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 Edition 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.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 288
• Erscheinungstermin: 23. Februar 2012
• Englisch
• ISBN-13: 9781118226858
• Artikelnr.: 37346291

Autorenporträt

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.

Inhaltsangabe

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