Controllership: The Work of the Managerial Accountant by Janice M. Roehl-Anderson, Steven M. Bragg

By Janice M. Roehl-Anderson, Steven M. Bragg

The whole consultant for today’s controller The controller–the leader accounting government of a corporation–has numerous fundamental tasks. those contain making plans and regulate (i.e., budgeting), monetary reporting and reading, tax management, management-level audits and accounting approach improvement, and overseeing inner and EDP audits. Controllership, 7th variation presents an entire assessment of all of the management-level accountant’s capabilities in an organization. The 7th version positive aspects new and revised chapters on e-business, stock valuation, accounting top practices, company making plans, strategic making plans, and tax making plans. All expertise chapters were cited so far in addition. rather than offering a tedious catalog of presidency and regulatory criteria, Controllership, 7th version emphasizes easy methods to meet activity standards. the focal point is still on what function the controller may still play within the corporation, with dialogue outlining significant accounting strategies, monetary instruments, and pertinent tax concerns. the data is geared to the objective of aiding controllers or different accounting-trained monetary executives use their technical services to guide the expansion and improvement of a company on a valid monetary foundation. Like prior versions, the 7th version presents the highbrow instruments wanted for the controller to conform from a monetary truth recorder to a strategic analyst thinking about making plans and keep an eye on. Controllership, 7th version is the main accomplished advisor to today’s occupation.

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To avoid this problem, the controller should create and enforce a code of ethics. This document may not originate with the controller—many chief executive officers (CEOs) prefer to take on this task. However, the controller can certainly push for an ethical code to be developed higher in the organization. fm Page 8 Monday, December 8, 2003 12:14 PM 8 Ch. 1 Accounting in the Corporation • Hazardous waste disposal • International boycotts • Leave for military or other federal service • Meals and entertainment • Political contributions • Preservation of assets • Restrictive trade practices • Standards of conduct • Use of company assets • Workplace and product safety The wide range of ethical topics, some going well beyond the financial arena, make it obvious that the CEO really is the best source of this document, rather than the controller, though the controller can certainly contribute to those portions relating to financial issues.

A senior company officer would have difficulty forcing the controller to adopt a different course of action than what is prescribed by the code of ethics, since this would go against a directive of the Board of Directors. If the controller feels it is necessary to take a course of action contrary to what is stated in the code, then the reasons for doing so should be thoroughly documented. If there is no code, then proceed to the next step. • Discuss with immediate supervisor. The controller’s immediate supervisor is probably either the Chief Financial Officer (CFO), Chief Operating Officer (COO), or CEO.

4 CONTROL FUNCTION The management function of control is the measurement and correction of performance so that business objectives and plans are accomplished. Management control seeks to compel performance to a plan or standard. 6 Accounting Function 13 of each function, so that they can enforce control-related issues. The controller cannot enforce control issues in other departments, since there is no managerial oversight of those areas, but the controller does correct control-related problems within the accounting function.

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