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| Preface | |
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| Accounting in the Corporation | |
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| Importance of This Chapter | |
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| Tasks of the Accounting Function | |
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| Role of the Accounting Function | |
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| Role of the Controller | |
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| Impact of Ethics on the Accounting Role | |
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| Evolving Role of Accounting | |
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| Controller's Responsibilities | |
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| Importance of This Chapter | |
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| Variations on the Title | |
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| Planning Function | |
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| Control Function | |
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| Reporting Function | |
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| Accounting Function | |
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| Additional Controller Functions in Smaller Companies | |
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| Controller's Job Description | |
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| Relationship of the Controller to the Chief Financial Officer | |
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| Future Changes in the Controller's Origins and Responsibilities | |
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| Managing Rapid Growth | |
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| Chief Financial Officer: From Controller to Facilitator of Change | |
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| Importance of This Chapter | |
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| Understanding What Chief Executive Officers Want | |
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| Task of the CFO | |
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| Develop and Communicate a Compelling Finance Agenda | |
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| Build a Commitment to Change within Finance | |
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| Change Executive Management Practices | |
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| Enlist the Support of the Chief Executive Officer | |
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| Mobilize the Organization | |
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| Institutionalize Continuous Improvement | |
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| Operational Accounting | |
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| Importance of This Chapter | |
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| Create Departmental Job Descriptions | |
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| Create a Departmental Training Program | |
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| Clear Out Excess Documentation | |
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| Streamline the Accounting Workflow | |
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| Document All Major Processes | |
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| Correct the Underlying Causes of Errors | |
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| Use Best Practices | |
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| Outsource Selected Accounting Functions | |
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| Cost Accounting and Costing Systems | |
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| Importance of This Chapter | |
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| Purpose of Cost Accounting Information | |
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| Input: Data Collection Systems | |
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| Processing: Data Summarization Systems | |
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| Processing: Job Costing | |
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| Processing: Process Costing | |
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| Processing: Standard Costing | |
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| Processing: Direct Costing | |
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| Processing: Throughput Costing | |
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| Processing: Activity-based costing | |
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| Processing: Target Costing | |
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| Outputs: Cost Variances | |
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| Ratio and Trend Analysis | |
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| Importance of This Chapter | |
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| How to Use Ratios and Trends | |
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| A Caveat | |
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| Measures for Profitability | |
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| Measures for the Balance Sheet | |
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| Measures for Growth | |
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| Measures for Cash Flow | |
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| Measures for Nonfinancial Performance | |
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| Interrelationship of Ratios | |
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| Setting Up a System of Ratios and Trend Analyses | |
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| Internal Control Systems | |
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| Importance of This Chapter | |
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| Objectives | |
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| Responsibility for Internal Controls | |
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| Examples of Internal Controls | |
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| When to Eliminate Controls | |
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| Types of Fraud | |
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| Preventing Fraud | |
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| How to Deal with a Fraud Situation | |
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| Foreign Corrupt Practices Act | |
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| The Fast Close | |
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| Importance of This Chapter | |
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| Different Types of Fast Close | |
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| How to Achieve a Fast Close | |
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| Enhanced Closing Process | |
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| Internal Audit Function | |
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| Importance of This Chapter | |
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| Reporting Relationships | |
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| Composition of the Audit Committee | |
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| Role of the Audit Committee | |
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| Internal Audit Objectives | |
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| Internal Audit Activities | |
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| Managing the Internal Audit Function | |
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| Recruiting, Training, and Supervision | |
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| Importance of This Chapter | |
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| Recruiting Sources | |
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| Factors to Consider When Recruiting | |
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| Factors to Consider When Promoting | |
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| Importance of Reduced Turnover | |
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| Importance of Developing Career Plans for Employees | |
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| Importance of Communications with Employees | |
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| How to Motivate Employees | |
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| Controller's Role in Investor Relations | |
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| Importance of This Chapter | |
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| Objectives of the Investor Relations Function | |
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| Evolving Nature of the Function | |
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| Communication Vehicles for Investor Relations | |
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| Investor Relations Message Recipients | |
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| Information Needs of the Financial Analyst | |
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| Information Needs of Other Groups | |
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| Disclosure Policy | |
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| Organization Structure for Investor Relations | |
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| Role of the Controller and Other Principals | |
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| Some Suggested Financial Market Objectives | |
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| Some Suggested Methods | |
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| Taxation Strategy | |
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| Importance of This Chapter | |
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| Accumulated Earnings Tax | |
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| Cash Method of Accounting | |
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| Inventory Valuation | |
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| Mergers and Acquisitions | |
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| Net Operating Loss Carryforwards | |
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| Nexus | |
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| Project Costing | |
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| Property Taxes | |
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| S Corporation | |
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| Sales and Use Taxes | |
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| Transfer Pricing | |
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| Unemployment Taxes | |
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| About the Author | |
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| Index | |