{"product_id":"the-controllers-function-isbn-9780470937426","title":"The Controller's Function","description":"\u003cb\u003eThe go-to resource managerial accountants can turn to for sustaining their company's competitive advantage\u003c\/b\u003e  \u003cp\u003eFrom flex budgeting to detailing the more sophisticated skills like throughput analysis for capital investments and the fast close for public companies, \u003ci\u003eThe Controller's Function, Fourth Edition\u003c\/i\u003e offers numerous real-world examples, expertly balancing both the technical and managerial sides of the job.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eProvides an overview of the functions and responsibilities of the controller\/management accountant in a corporation\u003c\/li\u003e \u003cli\u003eExplores how controllers can better perform their jobs\u003c\/li\u003e \u003cli\u003eOffers a solid foundation for those who are new to this area\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eComprehensive and practical, this book fully defines the role, functions and responsibilities of the managerial accountant in a corporation.\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: The Controller’s Job 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMain Job Functions 1\u003c\/p\u003e \u003cp\u003eJob Description 2\u003c\/p\u003e \u003cp\u003eJob Qualifications 5\u003c\/p\u003e \u003cp\u003eOrganizational Structure of the Accounting Department 6\u003c\/p\u003e \u003cp\u003eEthics 11\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Internal Control 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBasic Elements 13\u003c\/p\u003e \u003cp\u003eControls to Use in Your Business 20\u003c\/p\u003e \u003cp\u003eElements of Internal Accounting Control 48\u003c\/p\u003e \u003cp\u003eLevels of Controls 49\u003c\/p\u003e \u003cp\u003eFraud 50\u003c\/p\u003e \u003cp\u003eAuditing for Fraud 54\u003c\/p\u003e \u003cp\u003eNotes 55\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Planning and the Strategic Plan 56\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStrategic Plan Overview 56\u003c\/p\u003e \u003cp\u003eSystem of Plans 59\u003c\/p\u003e \u003cp\u003ePlanning Cycle 60\u003c\/p\u003e \u003cp\u003ePlanning Roles 62\u003c\/p\u003e \u003cp\u003ePlanning Timing and the Planning Period 63\u003c\/p\u003e \u003cp\u003eBusiness Mission 65\u003c\/p\u003e \u003cp\u003eDeveloping Long-Range Objectives 67\u003c\/p\u003e \u003cp\u003eDeveloping Long-Range Strategies 69\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Long-Range Financial Plan 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLayout and Purpose 73\u003c\/p\u003e \u003cp\u003eTrends of Revenues and Profits 75\u003c\/p\u003e \u003cp\u003eCapital Investments 76\u003c\/p\u003e \u003cp\u003eCash Flows and Financing Requirements 77\u003c\/p\u003e \u003cp\u003eRisk Analysis 78\u003c\/p\u003e \u003cp\u003eBreakdown by Business Unit\/Product Line\/Geography 81\u003c\/p\u003e \u003cp\u003eFinancial Position 81\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Annual Plan 87\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSystem of Plans 87\u003c\/p\u003e \u003cp\u003eAdditional Budget Modeling Topics 100\u003c\/p\u003e \u003cp\u003eAnnual Planning Cycle 102\u003c\/p\u003e \u003cp\u003eRole of the Controller 103\u003c\/p\u003e \u003cp\u003eSales Planning: The Base of All Business Plans 103\u003c\/p\u003e \u003cp\u003eSteps in Developing the Near-Term Sales Plan 104\u003c\/p\u003e \u003cp\u003eMethods for Determining the Sales Forecast 105\u003c\/p\u003e \u003cp\u003eChanges in the Sales Mixture 109\u003c\/p\u003e \u003cp\u003eChanges in the Sales Price 111\u003c\/p\u003e \u003cp\u003eChanges in the Cost 112\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Sales 114\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRole of the Controller 114\u003c\/p\u003e \u003cp\u003eSales Analysis 116\u003c\/p\u003e \u003cp\u003eSales Standards 120\u003c\/p\u003e \u003cp\u003eSales Reports 122\u003c\/p\u003e \u003cp\u003eProduct Pricing 125\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Distribution Expenses 132\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRole of the Sales Manager 133\u003c\/p\u003e \u003cp\u003eAnalyzing Distribution Costs 133\u003c\/p\u003e \u003cp\u003eAnalyzing by Application 135\u003c\/p\u003e \u003cp\u003eSetting the Distribution Budget 141\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Direct Materials and Labor 148\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eObjectives 148\u003c\/p\u003e \u003cp\u003eRole of the Controller 149\u003c\/p\u003e \u003cp\u003eTypes of Cost Systems 152\u003c\/p\u003e \u003cp\u003eMeasuring Direct Material Costs 153\u003c\/p\u003e \u003cp\u003eControlling Direct Material Costs 154\u003c\/p\u003e \u003cp\u003eControlling Direct Material Quantities 155\u003c\/p\u003e \u003cp\u003eMeasuring Direct Labor Costs 158\u003c\/p\u003e \u003cp\u003eControlling Direct Labor Costs 159\u003c\/p\u003e \u003cp\u003eTarget Costing 165\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Overhead 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNeed for Overhead Controls 168\u003c\/p\u003e \u003cp\u003eResponsibilities of the Controller 169\u003c\/p\u003e \u003cp\u003eAccount Classifications 170\u003c\/p\u003e \u003cp\u003eFixed and Variable Costs 172\u003c\/p\u003e \u003cp\u003eCost Allocation 178\u003c\/p\u003e \u003cp\u003eControlling Overhead 186\u003c\/p\u003e \u003cp\u003eProduction Reports 190\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: General and Administrative Expenses 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFunctions Involved 193\u003c\/p\u003e \u003cp\u003eAccounting for and Allocating Administrative Expenses 194\u003c\/p\u003e \u003cp\u003eResponsibility Accounting 196\u003c\/p\u003e \u003cp\u003e“Unique” Expenses 197\u003c\/p\u003e \u003cp\u003eControlling Costs 199\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Cash and Investments 202\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eObjectives of Cash Management 202\u003c\/p\u003e \u003cp\u003eRole of the Controller 203\u003c\/p\u003e \u003cp\u003eCash Collections 204\u003c\/p\u003e \u003cp\u003eCash Disbursements 207\u003c\/p\u003e \u003cp\u003eInvestment of Short-Term Funds 208\u003c\/p\u003e \u003cp\u003eAccounting for Records of Investment 210\u003c\/p\u003e \u003cp\u003eCash and Investment Controls 214\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Receivables 221\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFunctions of the Credit Department 221\u003c\/p\u003e \u003cp\u003eShortening the Receivables Cycle 225\u003c\/p\u003e \u003cp\u003eReserve for Doubtful Accounts 227\u003c\/p\u003e \u003cp\u003eReceivables Fraud and Control 227\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Inventory 229\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInventory Management Systems 229\u003c\/p\u003e \u003cp\u003eInventory Tracking 235\u003c\/p\u003e \u003cp\u003ePhysical Inventory Procedure 241\u003c\/p\u003e \u003cp\u003eInventory Valuation 244\u003c\/p\u003e \u003cp\u003eInventory Fraud and Controls 247\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Property, Plant, and Equipment 251\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRole of the Controller 252\u003c\/p\u003e \u003cp\u003eCapital Budgeting 253\u003c\/p\u003e \u003cp\u003ePostproject Appraisals 267\u003c\/p\u003e \u003cp\u003eOther Aspects of Fixed Assets 268\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: Liabilities 271\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eObjectives 271\u003c\/p\u003e \u003cp\u003eControls 272\u003c\/p\u003e \u003cp\u003eCredit Agreement Provisions 274\u003c\/p\u003e \u003cp\u003eDebt Capacity 275\u003c\/p\u003e \u003cp\u003eBond Ratings 276\u003c\/p\u003e \u003cp\u003eLeverage 278\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16: Equity 281\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRole of the Controller 281\u003c\/p\u003e \u003cp\u003eCost of Capital 282\u003c\/p\u003e \u003cp\u003eDividend Policy 290\u003c\/p\u003e \u003cp\u003eLong-Term Equity Planning 291\u003c\/p\u003e \u003cp\u003eRepurchasing Common Shares 298\u003c\/p\u003e \u003cp\u003eCapital Stock Records 299\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17: Operational Accounting 301\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCreate Departmental Job Descriptions 301\u003c\/p\u003e \u003cp\u003eCreate a Departmental Training Program 303\u003c\/p\u003e \u003cp\u003eClear Out Excess Documentation 306\u003c\/p\u003e \u003cp\u003eStreamline the Accounting Workflow 307\u003c\/p\u003e \u003cp\u003eDocument All Major Processes 309\u003c\/p\u003e \u003cp\u003eSchedule the Department 310\u003c\/p\u003e \u003cp\u003eCorrect the Underlying Causes of Errors 312\u003c\/p\u003e \u003cp\u003eUse of Best Practices 314\u003c\/p\u003e \u003cp\u003eOutsourcing Selected Accounting Functions 316\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18: The Fast Close 322\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDifferent Types of Fast Close 323\u003c\/p\u003e \u003cp\u003eHow to Achieve a Fast Close 324\u003c\/p\u003e \u003cp\u003eEnhanced Closing Process 339\u003c\/p\u003e \u003cp\u003eSummary 339\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19: SEC Filings 341\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eForm 8-K 341\u003c\/p\u003e \u003cp\u003eAnnual 10-K and Quarterly 10-Q Reports 348\u003c\/p\u003e \u003cp\u003eTiming of Annual and Quarterly Report Filings 350\u003c\/p\u003e \u003cp\u003eForm S- 1 351\u003c\/p\u003e \u003cp\u003eForm S- 3 352\u003c\/p\u003e \u003cp\u003eForm S- 8 353\u003c\/p\u003e \u003cp\u003eForms Requiring Payment to the SEC 354\u003c\/p\u003e \u003cp\u003eFedwire Payments 355\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20: Performance Measurements and Trends 356\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePerformance Measurements 357\u003c\/p\u003e \u003cp\u003eTrends 373\u003c\/p\u003e \u003cp\u003eInterrelationship of Ratios 375\u003c\/p\u003e \u003cp\u003eJust-in-Time Ratios 375\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21: Financial Analysis 378\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAnalyzing Financial Statements 378\u003c\/p\u003e \u003cp\u003eAnalyzing Working Capital 385\u003c\/p\u003e \u003cp\u003eAnalyzing Financing Options 391\u003c\/p\u003e \u003cp\u003eServices Profitability Analysis 394\u003c\/p\u003e \u003cp\u003eThe Throughput Analysis Model 397\u003c\/p\u003e \u003cp\u003eProduction Outsourcing Decision 399\u003c\/p\u003e \u003cp\u003eNew Product Decision 401\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22: Cost Reduction 404\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTypes of Reports Used for Cost Reduction Analysis 404\u003c\/p\u003e \u003cp\u003eSpend Analysis Overview 408\u003c\/p\u003e \u003cp\u003eSpend Database 409\u003c\/p\u003e \u003cp\u003eSupplier Consolidation Analysis 410\u003c\/p\u003e \u003cp\u003eParts Consolidation Analysis 412\u003c\/p\u003e \u003cp\u003eMaintenance, Repair, and Operations Item Analysis 412\u003c\/p\u003e \u003cp\u003eSpend Compliance 413\u003c\/p\u003e \u003cp\u003eSpend Analysis Reports 414\u003c\/p\u003e \u003cp\u003eWorkforce Reduction Analysis 417\u003c\/p\u003e \u003cp\u003eWorkforce Reduction Issues 421\u003c\/p\u003e \u003cp\u003eWorkforce Reduction Alternatives 422\u003c\/p\u003e \u003cp\u003e5S Analysis 423\u003c\/p\u003e \u003cp\u003eCheck Sheets 424\u003c\/p\u003e \u003cp\u003eError Quantification 424\u003c\/p\u003e \u003cp\u003eFixed Cost Analysis 426\u003c\/p\u003e \u003cp\u003eIshikawa Diagrams 427\u003c\/p\u003e \u003cp\u003eValue Stream Mapping 427\u003c\/p\u003e \u003cp\u003eWaste Analysis 430\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 23: Taxes 432\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTax Strategy 433\u003c\/p\u003e \u003cp\u003eTax Organization 434\u003c\/p\u003e \u003cp\u003eRole of the Tax Manager 436\u003c\/p\u003e \u003cp\u003eTax Records 437\u003c\/p\u003e \u003cp\u003eTax versus Book Accounting 440\u003c\/p\u003e \u003cp\u003eSales and Use Taxes 441\u003c\/p\u003e \u003cp\u003eProper Classification of Accounts 442\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 24: Selecting a Financial Information System 444\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReasons to Purchase Software 445\u003c\/p\u003e \u003cp\u003eDefining Systems Requirements 445\u003c\/p\u003e \u003cp\u003eExisting System Documentation 448\u003c\/p\u003e \u003cp\u003eJoint Sessions 449\u003c\/p\u003e \u003cp\u003ePreparing the Request for Proposal 452\u003c\/p\u003e \u003cp\u003eDistribution of the Request for Proposal 457\u003c\/p\u003e \u003cp\u003eReview of the Vendor’s Completed Proposal 458\u003c\/p\u003e \u003cp\u003eReference Calls 462\u003c\/p\u003e \u003cp\u003eDemonstration 463\u003c\/p\u003e \u003cp\u003eSite Visits 463\u003c\/p\u003e \u003cp\u003eCost of the System 464\u003c\/p\u003e \u003cp\u003eFinal Selection 465\u003c\/p\u003e \u003cp\u003eContract Negotiations 465\u003c\/p\u003e \u003cp\u003ePostimplementation Review 466\u003c\/p\u003e \u003cp\u003eAppendix New Controller Checklist 469\u003c\/p\u003e \u003cp\u003eAbout the Author 477\u003c\/p\u003e \u003cp\u003eIndex 479\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSteven M. Bragg\u003c\/b\u003e, CPA (Centennial, CO), has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst \u0026amp; Young and auditor at Deloitte. He is the author of over 30 books primarily targeted toward corporate financial leaders (controllers, treasurers, and CFOs) and their needs. Bragg received a master's degree in finance from Bentley College, an MBA from Babson College, and a bachelor's degree in economics from the University of Maine.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePraise for \u003ci\u003eThe Controller's Function\u003c\/i\u003e, Fourth Edition\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Clearly written and full of outstanding examples, Steve Bragg covers the controller's job function in a way I haven't seen before, with strong guidance on controls, ethics, fraud, and much more. Well done!\"\u003cbr\u003e\u003cb\u003e—Joel M. Ungar,\u003c\/b\u003e CPA, CFE, Silberstein Ungar, PLLC\u003c\/p\u003e \u003cp\u003e\"The challenges facing businesses over the past few years, ranging from ethics violations to major recession, have highlighted the need for strong financial leadership. In his book \u003ci\u003eThe Controller's Function\u003c\/i\u003e, Steven Bragg provides a framework of strong financial systems and controls that, if fully utilized, will greatly enhance a company's ability to safeguard its assets and successfully navigate through all business cycles and challenges.\"\u003cbr\u003e\u003cb\u003e—Timothy E. Scullin,\u003c\/b\u003e CPA, Chief Financial Officer, SIG Sauer, Inc.\u003c\/p\u003e \u003cp\u003e\"The book has everything needed to be a successful controller in a broad spectrum of companies and industries. It has the most comprehensive description of the controller's function I have seen and should be considered a must-have for anyone in, or desiring to be in, a controller position.\"\u003cbr\u003e\u003cb\u003e—Nathan D. Ford,\u003c\/b\u003e Senior Manager, Strothman \u0026amp; Company PSC\u003c\/p\u003e \u003cp\u003e\"Steven has done a great job in the \u003ci\u003eFourth Edition\u003c\/i\u003e of this book in covering the additional roles and responsibilities of the modern controller. Modern controllers are expected to perform more than just traditional accounting functions such as recording transactions and issuing financial statements but also must add value in other ways such as recommending improvements and cost savings to management. This book can be the one source that the reader can use to guide them in all aspects of their role as controller.\"\u003cbr\u003e\u003cb\u003e—James O. Bailey,\u003c\/b\u003e CPA.EA, Co-owner, Ann Arbor Properties LLC\u003c\/p\u003e \u003cp\u003e\"Are you a novice or a seasoned-pro controller at a small business or publicly traded company? \u003ci\u003eThe Controller's Function: The Work of the Managerial Accountant, Fourth Edition\u003c\/i\u003e will provide you with the latest knowledge required to perform your position at the highest level, especially the new chapters: Fast Close, SEC Filings, and Cost Reduction.\"\u003cbr\u003e\u003cb\u003e—Geoffrey Garland,\u003c\/b\u003e Consulting Controller, G3 \u0026amp; Associates\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990198927589,"sku":"NP9780470937426","price":105.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470937426.jpg?v=1761786874","url":"https:\/\/k12savings.com\/products\/the-controllers-function-isbn-9780470937426","provider":"K12savings","version":"1.0","type":"link"}