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Essential Controller An Introduction to What Every Financial Manager Must Know

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ISBN-10: 1118169972

ISBN-13: 9781118169971

Edition: 2nd 2012

Authors: Steven M. Bragg

List price: $72.00
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This book is designed to give the new controller a firm foundation in the concepts of managing the accounting department, locating GAAP information, analyzing and knowing what to do with key accounting information, and setting up controls systems that reduce a company’s risk of loss. These core areas are essentials to a controller’s success. New to this edition will be a discussion of finance strategy; introduction of the accounting standards codification, update of the taxation strategy; and a new controller checklist will be added as an appendix.
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Book details

List price: $72.00
Edition: 2nd
Copyright year: 2012
Publisher: John Wiley & Sons Canada, Limited
Publication date: 4/10/2012
Binding: Paperback
Pages: 288
Size: 6.00" wide x 9.05" long x 0.78" tall
Weight: 0.748
Language: English

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