Management Accounting Best Practices : A Guide for the Professional Accountant

Management Accounting Best Practices A Guide for the Professional Accountant Today s practicing accountant quickly finds out that a large part of his or her position is more about management decisions and less about accounting standards. Situations eventually arise involving cost allocation systems, cost analysis, profit planning, operational budgeting, and more, requiring a functional understanding of management accounting. Management Accounting Best Practices provides the answers to these situations and over 100 more, showing both the aspiring and seasoned accountant how to set up and manage an accounting department. With proactive and proven best practices in each chapter, this easy to read guide serves as a daily reference manual for every accountant in a management position. Written by Steven Bragg—one of the most prolific accounting authorities in the world—Management Accounting Best Practices is equipped with immediately useful tips and best practices for: Achieving optimal credit granting decisions The specific control to use in major accounting processes The best ways to maintain customer service levels while minimizing total inventory investing The vital decisions and control systems needed during the new product development cycle to ensure optimal profitability of the resulting products Chapters are organized by the different types of decisions to be made in such areas as capacity management, financial analysis, granting or denying credit, managing inventory, product pricing, and more. With best practices concepts woven into each chapter and explained in simple terms, users can review the latest techniques in this handy resource and quickly implement them on the job. This excellent step by step manual of best practices shows CFOs, controllers, accounting managers, and cost accountants how to arrive at the optimum level of investment in productive capacity and, specifically, where to target new investments. Topics and information are easily found through the question and answer format and will make Management Accounting Best Practices a well thumbed addition to any accountant s library.