The Controller's Function

Name: The Controller's Function | The Work of the Managerial Accountant
Brand: Wiley
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The Work of the Managerial Accountant

Steven M. Bragg(Autor*in)

Wiley (Verlag)

4. Auflage

Erschienen am 12. Januar 2011

496 Seiten

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978-1-118-00141-7 (ISBN)

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The Controller's Function: The Work of the Managerial Accountant
Contents
Preface
Chapter 1: The Controller's Job
Main Job Functions
Job Description
Auditing
Budgeting
Control Systems
Cost Accounting
Financial Analysis
Financial Statements
Fixed Assets
Policies and Procedures
Process Analysis
Record Keeping
Tax Preparation
Transaction Processing
Job Qualifications
Organizational Structure of the Accounting Department
Ethics
Chapter 2: Internal Control
Basic Elements
Control Environment
Accounting System
Appraising the Control System
Identifying the Activities, Risks, and Control Objectives
Understanding Control Systems
Controls to Use in Your Business
Cash
Investments
Elements of Internal Accounting Control
Levels of Controls
Fraud
Common Types
Some Causes
Management Override
Auditing for Fraud
Notes
Chapter 3: Planning and the Strategic Plan
Strategic Plan Overview
System of Plans
Planning Cycle
Planning Roles
Planning Timing and the Planning Period
Business Mission
Developing Long-Range Objectives
Developing Long-Range Strategies
Chapter 4: Long-Range Financial Plan
Layout and Purpose
Trends of Revenues and Profits
Capital Investments
Cash Flows and Financing Requirements
Risk Analysis
Breakdown by Business Unit/Product Line/Geography
Financial Position
Chapter 5: Annual Plan
System of Plans
Additional Budget Modeling Topics
Annual Planning Cycle
Role of the Controller
Sales Planning: The Base of All Business Plans
Steps in Developing the Near-Term Sales Plan
Methods for Determining the Sales Forecast
Statistical Methods
Judgmental Methods (Nonstatistical)
Other Methods
Changes in the Sales Mixture
Changes in the Sales Price
Changes in the Cost
Chapter 6: Sales
Role of the Controller
Sales Analysis
Types of Sales Analyses Needed
Deductions from Sales
Sales Department Bottlenecks
Typical Conditions Found by Sales Analyses
Other Uses of Sales Analysis
Sales and Gross Profit Analysis
Sales Standards
Illustrations of Sales Standards
Revision of Sales Standards
Sales Reports
Product Pricing
Cost Basis for Pricing
Throughput Basis for Pricing
Chapter 7: Distribution Expenses
Role of the Sales Manager
Analyzing Distribution Costs
Analyzing by Application
Analysis by Territory
Analysis by Product
Analysis by Customer
Need for Higher Margins for Certain Groups
Analysis by Size of Order
Other Analysis Issues
Setting the Distribution Budget
Five Steps to Set Distribution Standards
Additional Information Needed to Use Standards
Chapter 8: Direct Materials and Labor
Objectives
Role of the Controller
Types of Cost Systems
Measuring Direct Material Costs
Controlling Direct Material Costs
Purchasing and Receiving
Material Usage
Controlling Direct Material Quantities
Measuring Direct Labor Costs
Controlling Direct Labor Costs
Wage Incentive Plans
Target Costing
Chapter 9: Overhead
Need for Overhead Controls
Responsibilities of the Controller
Account Classifications
Fixed and Variable Costs
Using the High-Low Method
Graphic Determination of Fixed and Variable Costs
Cost Allocation
Traditional Cost Allocation
Activity-Based Costing: An Introduction
Developing an ABC Model
Controlling Overhead
Treatment of Bottleneck Overhead
Production Reports
Chapter 10: General and Administrative Expenses
Functions Involved
Accounting for and Allocating Administrative Expenses
Responsibility Accounting
"Unique" Expenses
Controlling Costs
Chapter 11: Cash and Investments
Objectives of Cash Management
Role of the Controller
Cash Collections
Acceleration of Cash Receipts
Value Dating
Cash Disbursements
Investment of Short-Term Funds
Criteria for Selecting Investments
Investment Options
Accounting for Records of Investment
Reports on Cash and Investments
Cash and Investment Controls
Common Methods of Misappropriating Cash
Controlling Disbursements
Bank Reconciliations
Petty Cash Funds
Investments
Chapter 12: Receivables
Functions of the Credit Department
Shortening the Receivables Cycle
Reserve for Doubtful Accounts
Receivables Fraud and Control
Receivables Fraud
Receivables Controls
Chapter 13: Inventory
Inventory Management Systems
Turnover
Reorder Points
Material Requirements Planning
Just-in-Time Systems
Cost of Carrying Inventories
Responsibility for Inventory
Inventory Tracking
Physical Inventory Procedure
Inventory Valuation
Inventory Valuation Methods
Lower of Cost or Market, and Inventory Reserves
Inventory Fraud and Controls
Inventory Fraud
Inventory Controls
Chapter 14: Property, Plant, and Equipment
Role of the Controller
Capital Budgeting
Establishing the Limit of the Capital Budget
Supporting Information for Capital Expenditure Proposals
Method of Evaluating Projects
Payback Method
Accountant's Method
Discounted Cash Flow Methods
Hurdle Rates
Project Risk Analysis
Inflation
Ranking Capital Projects
Throughput Analysis Method
Postproject Appraisals
Other Aspects of Fixed Assets
Internal Control Requirements
Plant and Equipment Records
Plant and Equipment in Relation to Taxes
Chapter 15: Liabilities
Objectives
Controls
Current Liabilities
Long-Term Liabilities
All Indebtedness Items
Credit Agreement Provisions
Debt Capacity
Bond Ratings
Leverage
Chapter 16: Equity
Role of the Controller
Cost of Capital
Dividend Policy
Long-Term Equity Planning
Repurchasing Common Shares
Capital Stock Records
Chapter 17: Operational Accounting
Create Departmental Job Descriptions
Create a Departmental Training Program
Clear Out Excess Documentation
Streamline the Accounting Workflow
Document All Major Processes
Schedule the Department
Correct the Underlying Causes of Errors
Use of Best Practices
Outsourcing Selected Accounting Functions
Chapter 18: The Fast Close
Different Types of Fast Close
How to Achieve a Fast Close
Documenting the Existing Closing Process
Alter the Timing of Closing Activities
Revise the Financial Statement Contents
Optimize the Use of Journal Entries
Centralize Accounting Activities
Specific Improvements to Functional Areas
Incorporate Automation into the Closing Process
Enhanced Closing Process
Summary
Chapter 19: SEC Filings
Form 8-K
Annual 10-K and Quarterly 10-Q Reports
Timing of Annual and Quarterly Report Filings
Form S-1
Form S-3
Form S-8
Forms Requiring Payment to the SEC
Fedwire Payments
Chapter 20: Performance Measurements and Trends
Performance Measurements
Profitability Measures
Measures of Growth
Liquidity Measures
Debt Measures
Activity Measures
Operating Measures
Cash Flow Measures
Other Nonfinancial Measures
Trends
Interrelationship of Ratios
Just-in-Time Ratios
Chapter 21: Financial Analysis
Analyzing Financial Statements
Analyzing Working Capital
Analyzing Financing Options
Services Profitability Analysis
The Throughput Analysis Model
Production Outsourcing Decision
New Product Decision
Chapter 22: Cost Reduction
Types of Reports Used for Cost Reduction Analysis
Spend Analysis Overview
Spend Database
Supplier Consolidation Analysis
Parts Consolidation Analysis
Maintenance, Repair, and Operations Item Analysis
Spend Compliance
Spend Analysis Reports
Workforce Reduction Analysis
Workforce Reduction Issues
Workforce Reduction Alternatives
5S Analysis
Check Sheets
Error Quantification
Fixed Cost Analysis
Ishikawa Diagrams
Value Stream Mapping
Waste Analysis
Chapter 23: Taxes
Tax Strategy
Tax Organization
Role of the Tax Manager
Tax Records
Tax versus Book Accounting
Sales and Use Taxes
Proper Classification of Accounts
Chapter 24: Selecting a Financial Information System
Reasons to Purchase Software
Defining Systems Requirements
Questionnaires
Executive Interviews
Document Reviews
Outside Sources
Vendor Demonstrations
Existing System Documentation
Joint Sessions
Preparing the Request for Proposal
Cover Letter
General Information/Proposal Guidelines
Background Material
Vendor Questionnaire
Vendor Cost Summary
System Requirements
Distribution of the Request for Proposal
Review of the Vendor's Completed Proposal
Reference Calls
Demonstration
Site Visits
Cost of the System
Final Selection
Contract Negotiations
Postimplementation Review
Appendix New Controller Checklist
About the Author
Index
End User License Agreement

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