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Management Control Systems : Performance Measurement, Evaluation and Incentives,9780273655961
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Management Control Systems : Performance Measurement, Evaluation and Incentives

by ;
Edition:
2nd
ISBN13:

9780273655961

ISBN10:
0273655965
Format:
Paperback
Pub. Date:
1/1/2007
Publisher(s):
Prentice Hall
List Price: $198.66
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Summary

Management control systems (MCSs) is a complex and multidimensional subject, which is comprehensively and clearly addressed by this new book. It assumes a basic level of knowledge of management accounting, but it is suitable for upper level undergraduates who have taken a prior management accounting course, as well as for postgraduates and practising professionals.Features and benefits Combination of an extensive set of case studies, text and real-life examples creates a balanced picture of the concepts, theories and issues surrounding the subject and equips students with the requisite skills to apply them to specific decision-making situations that managers face. Case study selection includes many Harvard Business School cases, as well as a range of original cases covering businesses in Europe, the USA and beyond. Coverage of the latest management control-related tools and techniques, such as EVAtrade; and Balanced Scorecard. Inclusion of findings of empirical research on the effectiveness of MCS design within different organizational settings provides a solid foundation to the subject. Greater emphasis on management control in the context of strategy and planning offers students the opportunity to develop their analytical skills in this area. Focus on the use and effects of 'financial results controls' which dominate at managerial levels in all but the smallest organizations. It also provides a broad treatment of alternative management controls that puts the financially-oriented controls into the proper perspective. The authorsProfessor Kenneth A. Merchant is the current holder of the Deloitte & Touche LLP Chair of Accountancy at the University of Southern California. He is an experienced teacher, consultant and the author of seven books. Professor Wim A. Van der Stede is Assistant Professor of management accounting and control at the University of Southern California. He is an experienced author with his publications appearing in several different journals, and he has taught in many different countries.

Table of Contents

Preface x
Section I THE CONTROL FUNCTION OF MANAGEMENT
Management and Control
3(20)
Management and control
4(3)
Effects of management controls on behavior
7(1)
Causes of management control problems
7(3)
Characteristics of good management control
10(1)
Control problem avoidance
11(3)
Control alternatives
14(1)
Outline of this book
15(1)
Notes
16(7)
Leo's Four-Plex Theater
17(1)
Wong's Pharmacy
18(1)
Private Fitness, Inc.
19(4)
Section II MANAGEMENT CONTROL ALTERNATIVES AND THEIR EFFECTS
Results Controls
23(44)
Instances of results controls
24(2)
Results controls and the control problems
26(1)
Elements of results controls
26(3)
The effectiveness of results controls
29(3)
Conclusion
32(1)
Notes
33(34)
Industrial Electronics, Inc.
34(1)
Visionary Design Systems: Are incentives enough?
35(18)
Armco, Inc.: Midwestern Steel Division
53(14)
Action, Personnel, and Cultural Controls
67(57)
Action controls
67(3)
Action controls and the control problems
70(1)
Prevention versus detection
71(1)
The effectiveness of action controls
72(2)
Personnel controls
74(3)
Cultural controls
77(6)
Personnel/cultural controls and the control problems
83(1)
The effectiveness of personnel/cultural controls
84(1)
Conclusion
85(1)
Notes
86(38)
The Internal Revenue Service: Automated Collection System
88(11)
Alcon Laboratories, Inc. (A)
99(11)
Patagonia, Inc.
110(14)
Control Tightness (or Looseness)
124(53)
Tight results control
124(4)
Tight action controls
128(3)
Tight personnel/cultural controls
131(2)
Multiple forms of controls
133(1)
Conclusion
133(2)
Notes
135(42)
The Lincoln Electric Company
136(22)
Controls at the Sands Hotel and Casino
158(19)
Direct and Indirect Control System Costs
177(38)
Out-of-pocket costs
177(1)
Behavioral displacement
178(5)
Gamesmanship
183(3)
Operating delays
186(1)
Negative attitudes
187(2)
Conclusion
189(1)
Notes
190(25)
Sears Auto Centers (A)
192(15)
Disctech, Inc.
207(8)
Designing and Evaluating Management Control Systems
215(38)
What is desired and what is likely
215(2)
Choice of controls
217(5)
Choice of control tightness
222(1)
Adapting to change
223(1)
Keeping a behavioral focus
224(1)
Maintaining good control
224(1)
Notes
225(28)
Rabobank Nederland
226(12)
Air Tex Aviation
238(15)
Section III FINANCIAL RESULTS CONTROL SYSTEMS
Financial Responsibility Centers and The Transfer Pricing Problem
253(49)
Financial results control systems
253(1)
Financial responsibility centers
254(4)
Variety within FRC types
258(1)
A hierarchy of FRCs
258(1)
Choosing types of FRCs
259(2)
Performance measurement: entities vs managers
261(1)
The transfer pricing problem
262(6)
Conclusion
268(1)
Notes
269(33)
Toyota Motor Sales, U.S.A., Inc.
271(10)
Zumwald AG
281(2)
Axeon N.V.
283(7)
Boise Cascade Corporation
290(12)
Planning and Budgeting Systems
302(32)
Purposes of planning and budgeting systems
302(1)
Planning cycles
303(3)
Forecasting and contingency planning
306(1)
Performance review processes
307(1)
Variations in practice
307(4)
Criticisms of companies' planning and budgeting processes
311(1)
Conclusion
312(1)
Notes
313(21)
Citibank Indonesia
314(7)
Amgen Inc.: Planning the unplannable
321(13)
Financial Performance Targets
334(33)
Types of financial performance targets
334(4)
Major financial performance target issues
338(8)
Conclusion
346(1)
Notes
346(21)
HCC Industries
348(11)
Houston Fearless 76, Inc.
359(8)
Performance-dependent Rewards (and Punishments)
367(42)
Benefits of performance-dependent rewards
367(1)
Forms of rewards and punishments
368(1)
Monetary rewards
369(3)
Group rewards
372(1)
Links between rewards and results
373(1)
Criteria for evaluating reward systems
374(1)
Monetary rewards and the evaluation criteria
375(2)
Designing monetary reward systems
377(1)
Conclusion
378(1)
Notes
379(30)
Catalytic Solutions, Inc.
381(8)
Loctite Company de Mexico, S.A. de C.V.
389(6)
GTE Corporation: Long-term incentive plan
395(14)
Section IV PERFORMANCE MEASUREMENT ISSUES AND THEIR EFFECTS
Accounting Performance Measures and their Effects
409(28)
Value creation
409(1)
Indicators of value creation
410(1)
Advantages of APMs of performance
411(1)
Limitations of APMs of performance
412(2)
Investment and operating myopia
414(1)
ROI measures of performance
415(1)
Return-on-what?
416(2)
Problems caused by ROI-type measures of performance
418(3)
Residual income measures
421(2)
Conclusion
423(1)
Notes
423(14)
Behavioral implications of airline depreciation accounting policy choices
425(2)
Berkshire Industries PLC
427(6)
Las Ferreterias de Mexico, S.A. de C.V.
433(4)
Financial Results Control Remedies to the Myopia Problem
437(23)
Addressing the myopia problems
437(2)
Measure changes in shareholder value
439(1)
Control investments
439(2)
Improve/adjust accounting profit measures
441(1)
Extend the measurement horizon
442(1)
Measure a set of value drivers
443(3)
Reduce pressure for short-term profit
446(1)
Conclusion
446(1)
Notes
447(13)
Chadwick, Inc.: The Balanced Scorecard
448(4)
Bank of the Desert (A)
452(3)
Bank of the Desert (B)
455(5)
Using Financial Results Controls in the Presence of Uncontrollable Factors
460(33)
The controllability principle
461(1)
Types of uncontrollable influences
462(2)
The distorting effects of uncontrollables
464(1)
Controlling for uncontrollables before the measurement period
464(2)
Controlling for uncontrollables after the measurement period
466(5)
Other uncontrollable factor issues
471(1)
Adjusting for uncontrollables
471(1)
Notes
472(21)
Olympic Car Wash
473(1)
Hoffman Discount Drugs, Inc.
474(6)
Formosa Plastics Group
480(8)
Beifang Chuang Ye Vehicle Group
488(5)
Section V IMPORTANT MANAGEMENT CONTROL ROLES AND ETHICAL ISSUES
Controllers, Auditors and Boards of Directors
493(60)
Controllers
493(3)
Auditors
496(5)
Boards of directors and audit committees
501(5)
Conclusion
506(1)
Notes
506(47)
ITT Corporation: Control of the controllership function, 1977 versus 1991
508(16)
Desktop Solutions, Inc. (A): Audit of the St. Louis branch
524(8)
Desktop Solutions, Inc. (B): Audit of Operations Group Systems
532(3)
Vector Aeromotive Corporation
535(7)
Landale PLC
542(11)
Management Control-related Ethical Issues and Analyses
553(34)
The importance of good ethical analyses
554(1)
Analyzing ethical issues
555(4)
Some common management control-related ethical issues
559(4)
Spreading good ethics within an organization
563(2)
Conclusion
565(1)
Notes
566(21)
Two budget targets
568(1)
Conservative accounting in the General Products Division
568(1)
Education Food Services at Central Maine State University
569(2)
Don Russell: Experiences of a Controller/CFO
571(7)
Lernout & Hauspie Speech Products
578(9)
Section VI SIGNIFICANT SITUATIONAL INFLUENCES ON MANAGEMENT CONTROL SYSTEMS
The Effects of Environmental Uncertainty, Organizational Strategy and Multinationality on Management Control Systems
587(50)
Environmental uncertainty
588(2)
Organizational strategy
590(2)
Multinationality
592(8)
Conclusion
600(1)
Notes
601(36)
Lincoln Electric: Venturing abroad
604(16)
TECO Electric & Machinery Co. Ltd.
620(6)
ConAgra Grocery Products Company
626(11)
Management Control in Not-for-profit Organizations
637(53)
Differences between for-profit and not-for-profit organizations
637(1)
Goal ambiguity and conflict
638(1)
Difficulty in measuring performance
639(1)
Accounting differences
640(1)
External scrutiny
641(2)
Legal constraints
643(1)
Employee characteristics
643(1)
Services provided
644(1)
Conclusion
644(1)
Notes
645(45)
Boston Lyric Opera
646(15)
City of Yorba Linda, California
661(11)
Waikerie Co-Operative Producers Ltd.
672(8)
University of Southern California: Revenue Center Management System
680(10)
Index 690


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