By Steven M. Bragg(auth.)
Brand new controllers are not any longer obvious as technicians who approach transactions; they're now obvious as company executives with a wide-ranging wisdom of overall enterprise operations, top practices, and company process. offering a accomplished review of the jobs and tasks of controllers in brand new atmosphere, this 8th version of Controllership maintains to supply controllers and vice presidents of finance with all elements of administration accounting from the controller's standpoint, together with inner keep watch over, revenue making plans, fee keep an eye on, stock, and monetary disclosure.Content:
Chapter 1 Accounting within the company (pages 1–11):
Chapter 2 Controller's tasks (pages 13–22):
Chapter three expense Accounting and Costing platforms (pages 23–56):
Chapter four Ratio and development research (pages 57–88):
Chapter five inner keep watch over structures (pages 89–111):
Chapter 6 inner Audit functionality (pages 113–121):
Chapter 7 Recruiting, education, and Supervision (pages 123–135):
Chapter eight Controller's position in Investor family members (pages 137–150):
Chapter nine enterprise Plans and making plans: Interrelationship of Plans, Strategic making plans (pages 151–179):
Chapter 10 monetary effect of the Strategic Plan: Long?Range financial statement (pages 181–199):
Chapter eleven revenue making plans: Annual Plan (pages 201–224):
Chapter 12 revenue making plans: assisting monetary research for the yearly Plan (pages 225–258):
Chapter thirteen Taxation making plans (pages 259–273):
Chapter 14 basic dialogue of criteria (pages 275–294):
Chapter 15 making plans and keep watch over of revenues (pages 295–337):
Chapter sixteen making plans and keep an eye on of promoting charges (pages 339–365):
Chapter 17 making plans and regulate of producing expenses: Direct fabric and Direct exertions (pages 367–387):
Chapter 18 making plans and keep watch over of producing charges: production expenditures (pages 389–423):
Chapter 19 making plans and keep watch over of study and improvement costs (pages 425–446):
Chapter 20 monetary making plans and keep watch over in a carrier corporation (pages 447–460):
Chapter 21 making plans and keep watch over of basic and Administrative costs (pages 461–475):
Chapter 22 Payroll (pages 477–497):
Chapter 23 making plans and regulate of money and Short?Term Investments (pages 499–532):
Chapter 24 making plans and keep an eye on of purchaser credits and Receivables (pages 533–551):
Chapter 25 making plans and regulate of Inventories (pages 553–584):
Chapter 26 Accounting and Reporting for chosen Investments and worker gain Plans (pages 585–600):
Chapter 27 making plans and keep watch over of Plant and kit or Capital resources (pages 601–635):
Chapter 28 administration of Liabilities (pages 637–657):
Chapter 29 administration of Shareholders' fairness (pages 659–682):
Chapter 30 inner administration studies (pages 683–703):
Chapter 31 exterior Reporting (pages 705–718):
Chapter 32 Mergers and Acquisitions (pages 719–762):
Chapter 33 The Reporting interval and the way to shut It (pages 763–780):
Chapter 34 stock monitoring (pages 781–796):
Chapter 35 Tax files and methods (pages 797–806):
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Additional resources for Controllership: The Work of the Managerial Accountant, Eighth Edition
In this case, the bulk of the data used by the costing system will come out of the accounts payable and purchasing records. Another example is a software company, where the costing focus is on the labor time charged to speciﬁc development projects and the ability of project managers to meet their deadlines, rather than on the minor cost of purchasing compact disks, packaging, and training materials that are shipped to customers. In this case, most Cost Accounting and Costing Systems 25 of the cost accounting data will come from the timekeeping and project-tracking databases.
This generic and very wide-ranging controller job description can be used as the basis for a more customized description that is tailored to individual circumstances. Relationship of the Controller to the Chief Financial Ofﬁcer In a larger company, there is a clear division of tasks between the controller and the CFO. However, there is no clear delineation of these roles in a smaller company, because there is usually no CFO. As a company grows, it acquires a CFO, who must then wrestle away some of the controller’s tasks that traditionally belong under the direct responsibility of the CFO.
A variation on direct costing is throughput costing. This methodology holds that the only direct cost is direct materials, with even direct labor costs being thrown out when making most cost-related management decisions. The main tenet of throughput accounting is that a company must carefully manage the bottleneck operation in its production facility, so that the largest possible contribution margin is created. The main advantage of throughput accounting is that it yields the best short-term incremental proﬁts if it is religiously Cost Accounting and Costing Systems 29 followed when making production decisions, while also tightly focusing capital spending on bottleneck operations.
Controllership: The Work of the Managerial Accountant, Eighth Edition by Steven M. Bragg(auth.)