The Essential Controller: An Introduction to What Every Financial Manager Must Know, Second Edition

Table of contents

1. Cover Page
2. Title Page
3. Copyright
4. Contents
5. Preface
6. CHAPTER 1: Accounting in the Corporation
   1. TASKS OF THE ACCOUNTING FUNCTION
   2. ROLE OF THE ACCOUNTING FUNCTION
   3. ROLE OF THE CONTROLLER
   4. IMPACT OF ETHICS ON THE ACCOUNTING ROLE
   5. EVOLVING ROLE OF ACCOUNTING
7. CHAPTER 2: Controller's Responsibilities
   1. VARIATIONS ON THE TITLE
   2. PLANNING FUNCTION
   3. CONTROL FUNCTION
   4. REPORTING FUNCTION
   5. ACCOUNTING FUNCTION
   6. ADDITIONAL CONTROLLER FUNCTIONS IN SMALLER COMPANIES
   7. CONTROLLER'S JOB DESCRIPTION
   8. RELATIONSHIP OF THE CONTROLLER TO THE CHIEF FINANCIAL OFFICER
   9. FUTURE CHANGES IN THE CONTROLLER'S ORIGINS AND RESPONSIBILITIES
   10. MANAGING RAPID GROWTH
8. CHAPTER 3: Chief Financial Officer: From Controller to Facilitator of Change
   1. UNDERSTANDING WHAT CHIEF EXECUTIVE OFFICERS WANT
   2. TASK OF THE CFO
   3. DEVELOP AND COMMUNICATE A COMPELLING FINANCE AGENDA
   4. BUILD A COMMITMENT TO CHANGE WITHIN FINANCE
   5. CHANGE EXECUTIVE MANAGEMENT PRACTICES
   6. ENLIST THE SUPPORT OF THE CHIEF EXECUTIVE OFFICER
   7. MOBILIZE THE ORGANIZATION
   8. INSTITUTIONALIZE CONTINUOUS IMPROVEMENT
9. CHAPTER 4: Operational Accounting *
   1. CREATE DEPARTMENTAL JOB DESCRIPTIONS
   2. CREATE A DEPARTMENTAL TRAINING PROGRAM
   3. CLEAR OUT EXCESS DOCUMENTATION
   4. STREAMLINE THE ACCOUNTING WORKFLOW
   5. DOCUMENT ALL MAJOR PROCESSES
   6. CORRECT THE UNDERLYING CAUSES OF ERRORS
   7. USE BEST PRACTICES
   8. OUTSOURCE SELECTED ACCOUNTING FUNCTIONS
10. CHAPTER 5: Cost Accounting and Costing Systems *
    1. PURPOSE OF COST ACCOUNTING INFORMATION
    2. INPUT: DATA COLLECTION SYSTEMS
    3. PROCESSING: DATA SUMMARIZATION SYSTEMS
    4. PROCESSING: JOB COSTING
    5. PROCESSING: PROCESS COSTING
    6. PROCESSING: STANDARD COSTING
    7. PROCESSING: DIRECT COSTING
    8. PROCESSING: THROUGHPUT COSTING
    9. PROCESSING: ACTIVITY-BASED COSTING
    10. PROCESSING: TARGET COSTING
    11. OUTPUTS: COST VARIANCES
11. CHAPTER 6: Ratio and Trend Analysis
    1. HOW TO USE RATIOS AND TRENDS
    2. A CAVEAT
    3. MEASURES FOR PROFITABILITY
    4. MEASURES FOR THE BALANCE SHEET
    5. MEASURES FOR GROWTH
    6. MEASURES FOR CASH FLOW
    7. MEASURES FOR NONFINANCIAL PERFORMANCE
    8. INTERRELATIONSHIP OF RATIOS
    9. SETTING UP A SYSTEM OF RATIOS AND TREND ANALYSES
12. CHAPTER 7: Internal Control Systems
    1. OBJECTIVES
    2. RESPONSIBILITY FOR INTERNAL CONTROLS
    3. EXAMPLES OF INTERNAL CONTROLS
    4. WHEN TO ELIMINATE CONTROLS
    5. TYPES OF FRAUD
    6. PREVENTING FRAUD
    7. HOW TO DEAL WITH A FRAUD SITUATION
    8. FOREIGN CORRUPT PRACTICES ACT
13. CHAPTER 8: The Fast Close *
    1. DIFFERENT TYPES OF FAST CLOSE
    2. HOW TO ACHIEVE A FAST CLOSE
    3. ENHANCED CLOSING PROCESS
14. CHAPTER 9: Internal Audit Function
    1. REPORTING RELATIONSHIPS
    2. COMPOSITION OF THE AUDIT COMMITTEE
    3. ROLE OF THE AUDIT COMMITTEE
    4. INTERNAL AUDIT OBJECTIVES
    5. INTERNAL AUDIT ACTIVITIES
    6. MANAGING THE INTERNAL AUDIT FUNCTION
15. CHAPTER 10: Recruiting, Training, and Supervision
    1. RECRUITING SOURCES
    2. FACTORS TO CONSIDER WHEN RECRUITING
    3. FACTORS TO CONSIDER WHEN PROMOTING
    4. IMPORTANCE OF REDUCED TURNOVER
    5. IMPORTANCE OF DEVELOPING CAREER PLANS FOR EMPLOYEES
    6. IMPORTANCE OF COMMUNICATIONS WITH EMPLOYEES
    7. HOW TO MOTIVATE EMPLOYEES
16. CHAPTER 11: Controller's Role in Investor Relations
    1. OBJECTIVES OF THE INVESTOR RELATIONS FUNCTION
    2. EVOLVING NATURE OF THE FUNCTION
    3. COMMUNICATION VEHICLES FOR INVESTOR RELATIONS
    4. INVESTOR RELATIONS MESSAGE RECIPIENTS
    5. INFORMATION NEEDS OF THE FINANCIAL ANALYST
    6. INFORMATION NEEDS OF OTHER GROUPS
    7. DISCLOSURE POLICY
    8. ORGANIZATION STRUCTURE FOR INVESTOR RELATIONS
    9. ROLE OF THE CONTROLLER AND OTHER PRINCIPALS
    10. SOME SUGGESTED FINANCIAL MARKET OBJECTIVES
    11. SOME SUGGESTED METHODS
17. CHAPTER 12: Taxation Strategy
    1. ACCUMULATED EARNINGS TAX
    2. CASH METHOD OF ACCOUNTING
    3. INVENTORY VALUATION
    4. MERGERS AND ACQUISITIONS
    5. NET OPERATING LOSS CARRYFORWARDS
    6. NEXUS
    7. PROJECT COSTING
    8. PROPERTY TAXES
    9. S CORPORATION
    10. SALES AND USE TAXES
    11. TRANSFER PRICING
    12. UNEMPLOYMENT TAXES
18. About the Author
19. Index