Book Description

Praise for Executive’s Guide To Web Services

"Finally, a very readable book about how Web services operate in the real world.This is a must-read primer for all C level executives who want to understand how Web services are fundamentally changing how enterprises integrate, collaborate, innovate, and dominate."
–Peter Dupre, Chief Technical Strategist, Edgewater Technology, Inc.

"Following along the brilliant analytical path that he blazed with the release of his first book on IT, Business Darwinism: Evolve or Dissolve, Marks, with coauthor Mark Werrell, continues to observe, digest, analyze, and clearly explain the latest trends in IT innovation. The Executive’s Guide to Web Services is a must-read companion for any IT manager, technology innovator, or corporate executive committed to successfully navigating through the maze of technology change. With this book, Marks and Werrell deliver a timely and valuable analysis of an important IT innovation at the ideal moment–just as the necessary confluence of technology, standards, and industry acceptance is starting to make the Web services vision a reality."
–Barry Zellen, CEO and Founder, TechnologyReports.net

"Marks and Werrell have captured the true essence of Web services in their provocative new book Executive’s Guide to Web Services. Their overarching emphasis on business issues over technology issues makes Executive’s Guide essential reading for any business executive looking for new sources of competitive advantage."
–David R. Brousell, Editor-in-Chief, Managing Automation Magazine ... Read more

Reviews (6)

Good, clear read
A good primer, clearly defined concepts and a writing style that cuts thru the jargon right to the point. Others have expounded the overall virtues of the book, I'll only echo the earlier review praising Chapter 2's definitions.

If you are an executive, senior manager, or just an IT professional looking for the "no BS" answer, and need a clear, concise overview of this sometimes complicated subject so you can make informed decisions on utilizing (or recommending) web services in your business, this book is for you.

Executive guide is right.
There is not enough detail here to make this book worth the money. Don't waist your time, there are many other books here that will fill in the details, this is not one of them.

Make Business Sense of Your Web Initiatives
Web-based initiatives can be as simple or complex as looking at the night sky. The technology choices from programming languages to servers to networks to security can be overwhelming. Add to the mix the types of Internet-based business systems desired and demanded by customers along with the ability to implement them and you can find a state of confusion and uncertainty.

Eric and Mark do a superb job of helping executives understand how to take realistic steps to solve the technology conundrum and how best to approach Web-based initiatives that will bring the greatest value to achieving business goals. Without such a book, this journey can be daunting.

The thought leadership presented in the book takes the reader from the application of innovative uses of current technologies to the leading edge of future applications and architectures; all compartmentalized into four phases of adoption.

A great dissertation that is ahead of the pack in toning down the hype of Web Services while presenting a realistic view of the tremendous value that can be achieved.

A must read for anyone venturing into Web Services!
Given the wide spread industry hype surrounding Web Services, and the appearance that every software vendor has their own definition and perspective on what really constitutes a Web Service, what do you get - A whole heap of confusion!!

In tackling this confusion "Executive's Guide to Web Services," does a great job of explaining what Web Services are, and separating the business realities from the overblown hype. As such this book is recommended reading for anyone who is looking for a foundation upon which to really understand this emerging subject space.

In this book Marks and Werrell discuss:

- What differentiates Web Services from previous IT trends
- The concepts and standards that make Web Services possible
- The rational for using Web Services to increase organizational flexibility and agility
- Current and future business scenarios for reducing costs and increasing revenues
- How and where to begin using Web Services (as well as where not!)
- Predominant software vendors in the Web Services space, and their market positions

Overall the book avoids technical discussions, favoring a business centric perspective, from which strategic and tactical business considerations are examined. If you are looking for a guide on how to code your first Web Services program, this is not the book for you, this topics is left to the numerous implementation books already out there.

In this book you will find a solid Web Services foundation that will arm you with a good perspective on what Web Services are, as well as where and when to use them today. You will also gain the knowledge and understanding necessary to discern Web Services reality from hype - do not underestimate how valuable this knowledge is for early forays into implementation of Web Services!

Great job explaining Web Services
"Executive's Guide to Web Services" starts out by providing real world examples of how and where Web services are being used today (e.g. Dunn & Bradstreet, Dell etc). These examples are used as a backdrop from which Web services concepts are introduced. Chapter 2, "Standards, Concepts and Terminology" is without doubt the most readable and comprehensive Web services primer that I've yet to find - it's worth buying the book for this chapter alone!

CONTENT:
Using chapter 2 as a foundation, later chapters further explore what Web services are, and what they can (and can't) do for businesses. Key topics covered include:
o Web Service Adoption - Looks at the hype surrounding Web services and outlines what's really achievable today. Also, details what the authors refer to as the "Web services Adoption Lifecycle," which maps the likely adoption and business usage of Web services over the next 3-5 years.
o Where to Begin - A step by step analysis of how, where, and when to use Web services for your business.
o Strategic/Vertical Market Implications - The medium to long terms strategic implications of Web services adoption.
o Architecting for Competitive Advantage - A conceptual discussion of how Web services can be used to create a more agile and flexible infrastructure, which is more adaptive to the fluidity of today's market dynamics.

CONCLUSIONS:
Overall, "Executive's Guide to Web Services" does a great job of explaining what Web services are, where and when to use them, and how they can be used to improve internal and inter-company operating efficiencies. The book covers each topic comprehensively, and does a good job of explaining complex concepts in a plain, easy to understand language.
Whether you are only just beginning to look into Web services, or you want to gain additional insights into how your business should look to use Web services, "Executive's Guide to Web Services" will be a good choice.

Good Choice - Highly Recommended. ... Read more

Book Description

Dividends are king in today's uncertain stock market, with more investors every day looking to add the stability and long-term performance of dividend-paying stocks to their portfolios. All About Dividend Investing takes a clear-eyed look at this new environment, then provides a comprehensive, step-by-step dividend-investing approach designed to reduce short-term risk while maximizing long-term growth. This timely book introduces popular methods for screening dividend-paying companies, explains how the new tax laws will affect corporate policy and investor behavior, and more.

Book Description

An entertaining introduction to a very serious and complex issue

Internal control is no longer the exclusive domain of highly trained accountants on the internal auditing staff. Corporate boards, CEOs, and employees at virtually every level are now seen as responsible for designing, implementing, and monitoring these controls; few, however, have the training and background needed to fulfill this complex responsibility.

Through the entertaining story of a manager’s visit to the Caribbean, Internal Control: A Manager’s Journey illustrates how control can be managed throughout an organization. In each chapter, Operations Manager Bill Reynolds learns the key concepts and techniques of internal control and discovers how to design, document, install, and monitor an innovative, efficient internal control policy. He discovers that effective internal control is based on risk assessment and should encourage innovation. He also learns important techniques for preventing, detecting, and correcting fraud.

This unconventional, extraordinarily useful guide is peppered with practical examples and workable solutions that can be used to institute improved control and accountability in any company of any size. It’s the ultimate resource for CEOs, CFOs, operations managers, and anyone involved in the design, implementation, review, or reporting of internal controls. ... Read more

Reviews (3)

Very Good General I/C Coverage
This book did an excellent job of covering the entire gamut of internal control from the enviroment to procedure writing. The chapter on concepts of control was particularly well written.

This book definitely prepares you for the next step-writing an I/C policy for your business.

Good book, worth the time and money.
This book will benefit both the new and seasoned professional. Its good for new managers and auditors wanting to get a broad understanding of internal control. The Picketts touch on just about every element of control and give good examples on application. New professionals can use this book as a development tool. I expect they will need to research some of the topics more.

I found the book beneficial because it helped me bring together my understanding of control and the link to our changing business environment. That is, a business environment that wants to balance control with creativity.

I found the writer's style enjoyable and made reading on a dry topic bearable.

Topics covered include: Objectives, Risk, Policy, Internal Control Elements, and how they fit together.

serious but less entertaining
Spencer Pickett did an excellent job in explaining internal control. It's a broad introduction covering most aspects of the issue. The business novel style, successfully used by Blanchard, Goldratt, Landsberg etc. starts with a promising, crisp first chapter of 15 easily digestable pages. However, the remaining chapters are chunks of about 50 pages of nearly endless discussions of topics in the context of a dreadlock holiday. It's like half a bottle chilled high quality red wine in the morning. The high quality is in the examples and topics, the less digestable part is the story. On the other hand, without the story, it would be as dull as a Cobit or Basel2 manual.
Fair introduction! ... Read more

Book Description

This book provides a comprehensive up-to-date survey of the field of accounting information systems control and audit.Presents the most up-to-date technological advances in accounting information technology that have occurred within the last ten years. New material reflects the latest professional standards. The book covers essential subjects and topics, including conducting an information systems audit; frameworks for management and application controls; audit software; concurrent auditing techniques; and evaluating data integrity, system effectiveness, and system efficiency.An essential resource on information systems management for accounting professionals. ... Read more

Reviews (5)

ITS REALLY IMPRESSIVE
I being a first time reader of this book actually fell in love with the book. It is self explanatory and will leads u to become a good IT auditor if u got a comprehensive auditing back groud. i appreciate the effort by mr weber.

A Student Perspective
As a student, I have found this book to be a very difficult read. The chapters were filled with impossible to understand details. Perhaps for a practitioner the book is useful, but as an introductory textbook in a university course, it proved to be a very thick volume with litte useful information.

RON WEBER -AGIN ON IS AUDIT
I HAVE READ THE EARLIER BOOK 1988 OF THE SAME AUTHOR.THIS BOOK(EARLIER) HAS HELPED A LOT IN MY PROFESSION. NO BOOK HAS THIS MUCH DETAIL RIGHT FROM THE PROGRAME DESIGNING STAGE TILL THE MAINTENANCE. ESPECIALLY FOR THEAUDIT TEAM WHO ARE IN FIs AND BANKS THIS WILL SERVE AS A POWERFUL TOOL IN WRITING REPORTS CONTROLS. ETC. IT WOULD BE BETTER IF THE EDITION COMES OUT WITH ASIAN EDITION SO THAT WE CAN ACCESS TO THIS BOOK BY RON WEBER

Information Systems Control and Audit
a very good book if you are not a techie. this book has all the gritty details that one will ever need for IS auditing for the moment. however i tend to get bogged down by all the details in the book. also, as IT is evolving at a tremedous rate, therefore expect an updated version very soon. the MCQs and review questions at the end of every chapter are very comprehensive and ensures that you can really understand the material that has been discussed in the chapter.

THE textbook for cutting-edge auditing courses.
An excellent textbook that is both comprehensive and enjoyable. Numerous up-to-date examples make the material come alive, and the use of varied theoretical approaches transcends more traditional textbooks. ... Read more

Book Description

Full of valuable tips, techniques, illustrative real—world examples, exhibits, and best practices, this handy and concise paperback will help you stay up to date on the newest thinking, strategies, developments, and technologies in balanced scorecard.

"This book provides the executive with a balanced view of the motivation, leadership, process, and technology required to enable Balanced Scorecard.Filled with examples and insights, it is a must—read."
–John V. Harker
Chairman and CEO, InFocus Corporation

"Balanced Scorecard can be a challenge to implement, especially in small companies.This book has mastered the art of communicating how to do it successfully in both small and large businesses as well as in government.Rich with content–yet simple to read, understand, and, most importantly, implement–this book makes Balanced Scorecard understandable and relevant to creating success."
–Patrick M. Cox
Chairman and CEO, Qsent, Inc. ... Read more

Reviews (1)

Cuts to the chase - practical approach
I've read a number of BSC books, from Kaplan & Norton's original classic, to later works, and this is one of the very few that goes into practical implementation and management of a balanced scorecard.

What makes this book better than the others I've read is the way the author points out the pitfalls as well as the advantages of implementing and using this tool. He is objective and, more importantly, experienced, which is evidenced by how he places the BSC in context. This context is shown in the gap he uncovers between strategic themes, mission/vision/values, competencies, and purpose, and initiatives, objectives, measures and targets. The BSC fills that gap - if properly done and all of the key factors are understood.

I liked the way this book uncovers subtle key factors, such as the differences between strategy and operational effectiveness (often mistakenly viewed as the same thing), and what you should and should not be measuring. I also liked the way strategic themes were defined as a concept, as well as the use of tool called a paradox map to verify the alignment of tasks to strategy.

The bulk (and value) of this book is the implementation plan, which is governed by six critical success factors necessary to implement a BSC. It is here that the book shines because the implementation is laid out as a project (in fact, one of the six CSFs is to treat the implementation as a project), and is achievable with no non-value added steps.

If you want to gain an objective view of balanced scorecards and their value, and a pragmatic approach to implementing one, this book is the one I recommend. ... Read more

Book Description

Praise for Activity-Based Cost Management

"Business leaders are always being presented with proposals to ‘improve’ corporate performance. Cokins turns ABC/M into an objective tool for forecasting the actual costs in an improved environment. Every executive should follow Gary's methods to predict benefits before risking company and career on a multimillion-dollar program."––Hugh D. Pinkus, Executive Consultant, Industrial Sector, Business Innovation Services, IBM Global Services

"Gary Cokins advances Activity-Based Cost Management the next step.In addition to providing the roadmap for ABC/M implementation success, Gary reveals the real strategic applications of ABC/M."––Joe Kosinski, Director, Corporate Manufacturing Accounting, Abbott Laboratories

"ABC/M is lucky to have Gary Cokins as its advocate. Gary has the gift to take the concept that many view as complex and reduce it to its simplest terms, and he has done so again here.After reading this book, you will have an understanding of the power of ABC/M as a tool to understand costs and make better business decisions."––John F. Morrow, CPA, AICPA Vice President, The New Finance

"Gary Cokins has helped light the way for cost and profitability analysis practitioners for many years.His wit and vivid metaphors engage a broad audience of managers and executives, helping generate not only new levels of understanding but also genuine enthusiasm for applying ‘accounting’ tools to improve bottom-line performance."––Tim Jordheim, Manager, ABC/M Center of Expertise, Cargill, Inc.

"Making sense of complex end-to-end business processes can hinder timely and substantive improvements.This thorough and engaging book shows how processes can be reduced to activity-level building blocks where resource consumption relationships can be identified and evaluated. Insights gained from these evaluations can then be used to motivate and prioritize changes that bring actual process-related costs into balance with other organizational goals such as productivity, cycle time, quality, and customer satisfaction."––Hal Thilmony, Senior Manager, Financial Business Process Improvement, Cisco Systems ... Read more

Reviews (10)

Activity-Based Cost Management -- An Exucutive's Guide
This is an excellent, informative, easy-to-read reference book. I refer to it as a reference book as opposed to an end-to-end text book because you don't have to start at the beginning and read the chapters sequentially in order to understand what you are reading. In today's business world of capitalilzing on your supply chain by measuring internal processes as well as customer/vendor performances, executives need a tool such as this book to use as a quick "help desk" to learn how to measure complete processes to see how profitably resources are being deployed. Having a tool that explains how to figure out which of your customers, vendors, and internal processes are profitable to your business is invaluable.

Activity-based Cost Management: An Executive's Guide
Not only does this book provide managers with a wealth of essential information but more importantly, Gary Cokins challenges managers to think differently. He provides a framework for managers to make better decisions based on data and sound assumptions. The volume of information on the variety of aspects of ABC/M presented in a clear, easy-to-understand manner, makes this book a great investment for any manager.

Great starting point and continuing reference
This book is an excellent resource for learning and understanding ABC accounting. Unlike many web articles and white papers, Gary's book is a practical not academic approach from someone who has been there, done that, and has the t-shirt. It's filled with lots of explanatory diagrams which help to visualize the concepts presented and are useful when presenting on a high-level to executives under time constraints for reading. Chapter 1 clearly presents ABC basic concepts while Chapter 2 is a direct follow-on expanding the depth and breath of those basic concepts. Chapter 3 addresses the question that all senior management wants to know: Are all your trading partners worth it to you? Subsequent chapters focus on typical ABC modeling applications most relevant to organizations. Chapter 6 gives a very good cross-comparison of project/work order costing vs. ABC that is very helpful to project-centric organizations in understanding how ABC differentiates itself. Chapter 7 succinctly places ABC software in the reengineering software spectrum without getting lost in a technological morass. Chapter 9 addresses rapid prototyping for getting initial results from the methodology that can be tweaked iteratively to grow a more sophisticated ABC model. In conclusion, I highly recommend this book and look forward to Gary's "ABC Management - Making it Work" which is next on my ABC must-read list.

Outstanding Executive's Guide to Understanding ABC/M
Gary does a wonderful job in explaining not only what is ABC/M but also why it is needed is today's competitive environment. I enjoyed the discussions on defining and measuring capacity as well as the cost of quality. If you're looking for a book that describes ABC/M and it's uses, this is it!

Activity-Based Cost Management
it is an amazing book on the subject. it provides valuable practical insights to issues faced by any practitioner of ABC/M.
Anyone who is closely related or has been involved with the implementation of ABC or wants a good understanding of ABC should definitely read this book. ... Read more

Book Description

"A valuable resource for anybody interested in understanding how financial fraud occurs in an organization and what to do when it is found or suspected. While delivering comprehensive coverage, the authors do a commendable job making the material accessible and highly readable. In this post-Sarbanes era, this is a must-have reference for every business professionals bookshelf."
—Mark S. Schweiker
President, Greater Philadelphia Chamber of Commerce
Forty-fourth Governor, Commonwealth of Pennsylvania

A thorough guide to forensic accounting and investigation for the non-expert

Forensic Accounting and Fraud Investigation for Non-Experts is a dependable, up-to-date resource for detecting, preventing, and successfully prosecuting financial fraud. The authors address all phases of forensic accounting, complete with actual examples demonstrating applications in the real world.

In one conveniently organized volume, non-experts get access to all the critical accounting principles and investigative techniques that help protect any organization from fraud, including insightful advice on where an organization is most susceptible to fraud and how to implement effective investigation processes when fraud is suspected. ... Read more

Book Description

Written to create a collection of teaching cases that are interesting, thought-provoking and relevant to contemporary business situations and decisions, this book advocates broadening and strengthening the management dimensions of management accounting and control courses—doing so without sacrificing essential accounting content. Challenging yet concise cases are presented in a manner that minimizes reader preparation requirements. Topics and materials demonstrate how costs, cost analysis, and planning and performance measurement can be useful to managers in making operating and strategic decisions. This edition includes cases intended to build a foundation of basic concepts like cost behaviors, standard costing, and relevant costs.It also includes cases intended to address more comprehensive and complex issues such as activity-based thinking, balanced scorecards, transfer pricing, the use of ROI versus Residual Income to measure performance, flexible budgeting, and revenue and expense variance analysis. For anyone in management accounting, cost accounting, strategic cost management, and/or management control systems professions. ... Read more

Reviews (1)

Horrible book, errors galore
This is the worst textbook I've ever come across. Tons of grammatical errors and inconsistencies with monetary units, such as using British pounds and Dollar signs intermixed when they shouldn't be.Basic math skills seem to be lacking from the authors because many of the numbers don't add up. This is totally inexcusable for an accounting-based text.No website for the errata either. Avoid at all costs.
... Read more

Book Description

The latest best practices for the inventory function

"I don’t know how he does it, but Steven Bragg makes reading about a subject such as inventory interesting, informative, and very useful. Reading and implementing even some of the best practices in this book will improve your company. I highly recommend this book for people who deal with inventory and for their managers."
–– Gail W. Sevier, CPA
Member/Manager, Marrs, Sevier & Company LLC

Inventory Best Practices is a powerful tool for selecting best practices that will result in measured improvement in a full range of industry-specific issues and inventory flow concepts.

Nearly 200 best practices from today’s leading companies address every phase of inventory activities:

• Purchase
• Receipt
• Storage
• Picking
• Shipment

Inventory Best Practices provides controllers, inventory managers, and CFOs across a broad range of industries with expert methodologies and techniques for driving costs down. ... Read more

Book Description

Hilton/Maher/Selto (HMS) addresses traditional cost concepts, but makes cost accounting functional by focusing on measuring and managing costs. HMS maintains that, Costs don't just happen, and with a pro-active approach toward costs, accountants can add value to an organization. Faculty will appreciate the new and more conventional chapter organization in the first two sections of the text. The real-world approach of this text, including the use of focus companies and the new accompanying focus sites, provides a realistic business environment, and aids in student comprehension and interest in the subject. ... Read more

Book Description

Move Beyond the Routine to the Innovative

From processing accounts payable and closing the books in a timely fashion to making recommendations for improvements that will enhance a company's overall performance, corporate controllers and financial managers have a wide range of responsibilities. But these tasks also represent a wide area of opportunity. The controller who has developed skills beyond that of routine accounting management to include innovative financial analysis can become a highly valued member of a company's infrastructure. This opens the door to a variety of promotions and high-level interactions with other departments. Financial Analysis: A Controller's Guide is designed to help the controller acquire and apply top-notch financial analysis skills. In addition to covering the traditional aspects of the field, here are thorough analyses of such advanced topics as:
* Evaluating acquisition targets
* Increasing shareholder value
* Determining the break-even point
* Forecasting future business conditions
* Using sample analysis reports
* Determining the cost of capital
* Analyzing risk

Here is hard-to-find coverage of management performance review systems, process cycle analysis techniques, and capacity analysis methods-plus checklists, advice, and detailed examples and comprehensive explanations of many internal areas. This guide will be an indispensable tool for the controller who is interested in enhancing career opportunities in the field.

Benefit Your Company-and Your Career

As a corporate controller, financial manager, or treasurer, companies rely on your judgment in order to run smoothly and to grow both strategically and financially. But when it comes to your own personal career growth, moving past the often mundane functions of the job requires sharpened financial analysis skills. Financial Analysis: A Controller's Guide addresses both the classical aspects of the field, including capital purchase and acquisition target analysis, as well as comprehensive information on the analysis of many internal areas. Here is invaluable guidance regarding:
* How to improve a corporation's overall performance
* When to buy assets
* How to increase shareholder value
* How to recognize indicators of specific underlying problems
* How to use financial analysis reports, including electronic spreadsheets
* How to determine future business conditions . . . and much more, to help raise your visibility within the company, and earn the recognition, promotions, and career success you deserve. ... Read more

Reviews (6)

The Best Textbook I Ever Read!
I purchased the book as part of my CPA Continuing Education credit program. I was pleasantly surprised. Relevant information with sufficient explanations in clear and concise language. A definite must read and must keep as reference material for any controller or financial analyst.

Too simple for the real world
This book does not provide any information that could not be found in a college level textbook. The assumptions and examples provided in the book are over simplified. If you are anything higher than a junior accountant I would suggest you purchase something else. Calling this book a "Controller's Guide" is just plain wrong.

A MUST HAVE...PRACTICAL, EASY TO USE; INSIGHTFUL!
After over 10 years in the field serving as a Controller, Business Manager, and Consultant, finally a practitioner's book that hits the target. Given the vast topic, Bragg nails the critical issues...gets you in & out of each topic quickly and provides an array of useful tools for analysis, presentation, and discussion. The KISS principle at work! Other books may cover more detail, present more elaborate formulas and in general overwhelm the reader. Bragg doesn't. You'll find his summaries quite helpful: Commonly Used Ratios; Symptoms & Solutions; and Exhibit 6.11 Recommended Analyses by Type of Acquisition, for example. Full of practical, hands-on topic reviews, examples, and analytical thinking. Numerous Exhibits showing practical layouts for presenting information...have saved me time & eliminated the need to reinvent the wheel. A must have for my reference tools...and could have eliminated several books in my MBA. Do what's in this book & do it well and you'll build a solid reputation for you and your team. I liked this book so much that I added Bragg's books "Sales & Operations For Your Small Business" and "Accounting & Finance For Your Small Business" to my tools, too...and have been equally pleased.

Great Guide for a Controller
This is the only guide I am aware of that is specifically tailored to the needs of the practicing controller. The chapters on breakeven analysis, capacity utilization, and (especially) the use of an electronic spreadsheet are perfect. I find myself taking this book off the shelf for reference purposes at least once a week. Highly recommended.

Too simple, too young & too naive
Too simple assumption on work of a controller.

Too young to call himself a 'controller' if he works like the book quoted

Too naive if you think the real world would be like that. ... Read more

Book Description

Since its initial publication in 1987, Revelance Lost has gone through nine printings, won two major awards from the accounting profession, and had a profound impact on how management accounting systems operate in the 1990s. It has become a manifesto for managers in accounting and control. By exploring the evolution of management accounting in American business from the early textile mills to present-day computer-automated manufacturers, Johnson and Kaplan reveal why modern corporations must make major changes in the way they measure and manage costs. In a world of rapid technological change, vigorous global and domestic competition, and enormous information-processing capabilities, it is critical that managers receive information that is timely, accurate, and relevant. ... Read more

Reviews (5)

this is a book that revolutionized management accounting
Relevance lost of a book about the history of management accounting. The book is very well documented in that in times they were able to deduce different conclusions made by others. They start from the very beginning exploring as far back as the 18th century. They start out by discussing how textile mills started recording in their books accounting information. They begin from the very beginnings of accounting. Accounting emerged as a discipline in the early 18th century, but their underlying purpose in not for internal uses but it was created so that stakeholders can gauge the value of their investment in the firms that put out these financial statements. In the book there are a number of firms they highlight that made important contributions to management accounting. The first company they highlight is DuPont corporation in the nineteenth century. There is a theme to the development of management accounting. DuPont first staterted out as a manufacturer of gunpowder but went on to become bigger. The first companies that innovated their way of internal controls in management accounting grew out of a necessity. DuPont first came out with a measure of their business which was the return on investment measure. Because Dupont was becoming bigger and it needed to measure return on investment to measure the profitability of individual business units. It was a measuring rod to asses the different business activities of it business units. With this measure the managers of DuPont could make decisions such us which business units to invest on and do away with units that are performing poorly.
In the 1920's at General Motors they have been experimenting with using variances to measure how well they are doing in their manufacturing. In to the picture is a man named Alfred Sloan, he is one of the most brilliant thinkers in management. With implementing variances GM was able to have a uniform way to impose standards to its managers. With this system, GM's growth became remunerative.
Then there came a period as the authors put it when relevance was lost. Financial accounting accounted for the bulk of the innovations in accounting leaving behind management accounting. This is like the "dark ages" of cost accounting when companies and academics did not innovate methods and processes to advance management accounting. There were a number of reasons for this, first is the requirement imposed in companies to generate financial statements for the stakeholders of the companies. Second, the cost of putting together the necessary information was prohibitive. Technology has not yet grown mature enough to allow managers to go through the trouble of compiling the information needed to make the decisions.
The beauty of this book is that it traces beginnings of topics that are familiar to us now. Topics like variances, discounted cash flow analysis, return on investment, sunk cost, and even just-in-time inventory systems. The next evolution of management accounting is to be led by academicians according to the authors. In this stage of the life of management accounting arose discounted cash flow analysis. This is a step ahead of the return on investment method. This is also a time when economist started to innovate management accounting further. The concept of sunk cost is introduced by economist in the London School of Economics. Innovations also arose by way of the field of operations research. Operations research deals primarily of mathematics. And about this time management accounting was taking hold as a discipline of its own. Along with discounted cash flow analysis, opportunity cost is introduces as well as agency theory and residual income. Residual income is interesting in that it was a step backward in the innovations of theories. Even though, GM started using this instead of the return-on-investment measure. The driving force of this period of the growth of management accounting is the need to have better decision making. This is why economics along with operations research contributed to the growth of management accounting.
Next up, management accounting in its evolved form before 1980 falls short. Management accountants make a couple of theoretical mistakes. They are no longer providing managers of the critical information needed to make decisions. Management accounting has become obsolete in a sense. The next development is what happened after 1980. Because of bitter and growing competition because of global forces and deregulation there needed to be more changes. In this period arose what is now called total quality management, and its progeny just-in-time systems. Manufacturers needed to control their work-in-process inventory. Meaning the Japanese where beating Americans by having zero inventory. This led to changes in management accounting systems throughout the United States.

Historical backgrounds of BSC, ABC & EVA
If you want to understand everything about the historical backgrounds of such now well-known management instruments like the balanced scorecard, activity based costing and EVA, there is no better book to read than this book. This book started off a transformation of management accounting and of organizational performance management. Essential reading for controllers, students of management and management consultants.

Broad History of Mgmt Accounting
Good in-depth survey of the history and purpose of Management Accounting. Classic book. You see Kaplan's thought processes as he develops the basis of his later works on new forms of accounting such as the Balanced Scorecard and EVA.

If you are a management accountant this book will put your work into perspective as well as caution you about the pitfalls of doing things the way theu have always been done.

A good read for discouraged management accountants.
For those management accountants who feel less than totally appreciated (the real ones will know this to be a common feeling) then this book shows how financial accounting usurped management accounting when the bean counters went looking for shareholders and needed to tell less than the truth about what was going on inside their firms.

If auditors are just hookers with a degree, then financial accountants are then just politicians without a cause - you cannot run a business on late and averaged data from the financial perspective.

This book reminds us that knowing what things cost to make and cost to sell is what keeps a firm on the black ink side of the ledger.

Worth a read.

Excellent treatment of subject
This is a small book which puts forward the idea that we must return to a better use of product cost data to make decisions. The authors review the literature going back to the first industries in the 1700's that used cost data in a managerial way. The work quotes heavily A. Chandler, J.M. Clark and Vatter for their contributions. It then reformulates their idea's and other historical data to come to the author's conclusion. In summary, it is well done for those interested in the subject and have an appreciation for business history ... Read more

Book Description

An action-driven approach to assessing, creating, and protecting value

"The timing for publication of Eleanor Bloxham’s Economic Value Management is providential. We are assailed by the reality that the board of directors of leading companies have approved, no, have directed, accounting practices that inflate the reported earnings but that lack economic substance. Audit firms in search of personal wealth have been selling‘earnings’ from their consulting division to their full client list. This volume is uniquely couched to restore integrity to the financial understanding of corporate functioning. If you want–and you should–to start getting American business back on the right track, you should read this book."–Robert A. G. Monks, Publisher of www.ragm.com and several books about corporate governance

"Educated investors are essential to successfully functioning capital markets. At this critical time in our financial history, restoring the confidence in our financial system lost over the past year will depend upon financial advisors and investors truly understanding the companies they invest in. As Economic Value Management shows, being educated means more than understanding the unique language of the stock market, it is more than reading a prospectus or an annual report, it is more than listening to an analyst’s opinions. Being educated requires a genuine understanding of the value of a company."– Mary L. Schapiro, Vice Chairman, President, Regulatory Policy and Oversight, NASD (National Association of Securities Dealers)

"Economic Value Management would have limited much of the economic turmoil we have experienced in the last eighteen months. It is the way a company should be managed."– John McCoy, Chairman of Battelle Memorial Institute, retired Chairman and CEO of Bank One Corporation

"Nothing could be more appropriate and needed at this time in history than understanding how decisions affect corporate economic value. Eleanor Bloxham’s exploration of this issue is clear, easy to follow, and thorough in its breadth. Had corporate officers used economic value management techniques throughout their organizations and investors focused on such issues, there would have been much greater rationality in the stock market with much less eventualbloodletting. Indeed, in the aftermath of recent disclosures, the focus on Economic Value Management metrics should increase substantially, and this book provides a solid foundation for understanding such an approach."–Joseph A. Alutto, Dean and John W. Berry Sr., Chair in Business, Fisher College of Business, The Ohio State University ... Read more

Reviews (6)

This Book is a Must Read to Understand Economic Profit
When practitioners, who have actually rolled up their sleeves and implemented, write a book, it is usually a good read. In Eleanor Bloxham's case, this is a great read.

There is so much confusion about what operational and strategic levers an organization should push or pull to create rather than destroy shareholder wealth. Most articles slip into gross platitudes and sloganeering and sidestep the "how to."Bloxham's book dives in but explains adnmittedly complex interelationships in a way you can understand them. She does a fine job integrating the component tools, like the balanced scorecard and activity based costing, into economic value management.

Some day boards of directors may find this to be the standard book for assisting their shareholders make, not lose, money.

Cutting Through the Confusion about Performance Metrics
Corporate senior executives are subjected to pressure for performance from many constituents - shareholders, customers, employees, governmental and regulatory authorities, rating agencies, board members, and securities analysts.And, since these are by definition high achieving individuals, some of the greatest pressure is from within.The existence of many constituents, many with conflicting objectives, often makes it very difficult for CEO's, CFO's and board members to focus on key performance goals and metrics.Over the course of my 34 year career as a corporate banker, I've seen many confused executives, pressured for EPS growth, revenue growth, ROE, but not necessarily understanding the long run impact of any or all of these performance metrics.

Ms. Bloxham has produced a superb book that takes a "holistic" view of the process of identifying performance criteria for senior executives, and not just for those in the private sector.She and I share common views about the benefits of economic value added metrics, but she has gone well beyond this to address many of the conflicts for performance faced by executives.She provides an excellent framework for establishing a set of logical goals and performance metrics for managing complex businesses and non-profit organizations.

essential, but enjoyable reading for excecutives
A friend of mine recommended this book to be, but when I first saw the title of the book I wasn't sure what it was going to
be about. It seemed a bit intimidating. However, the book is very easy to read, has incredible insights and having read it, I now can certainly understand why the book was named a late addition candidate to "ONE OF THE BEST BOOKS of 2002" and a CEO "RECOMMENDED READ" by CEO refresher, an independent editorial board recognized by the Harvard Business School and
the Wall Street Journal. I think it is one of the best books on business I've ever read.

I'm on my second reading of this book and as I go through it I'm revising my business unit's plans for the coming fiscal year.As Bloxham points out, change is a difficult process, but worth it, so I'm sure I'll be referring to this book for years to come.

essential reading - but enjoyable reading for executives
A friend of mine highly recommended this book to be, but when I first saw the title of the book I wasn't sure what it was going to be about. It seemed a bit intimidating. However, the book is very easy to read, has incredible insights and having read it, I now can certainly understand why the book was named a late addition candidate to "ONE OF THE BEST BOOKS of 2002" and a CEO "RECOMMENDED READ" by CEO refresher, an independent editorial board recognized by the Harvard Business School and
the Wall Street Journal. I think it is one of the best books on business I've ever read.

I'm on my second reading of this book and as I go through it I'm revising my business unit's plans for the coming fiscal year.As Bloxham points out, change is a difficult process, but worth it, so I'm sure I'll be referring to this book for years to come.

Economic Value Management
This book is a winner!It emphasizes stewardship of resources, and explains in detail with excellent examples, how to implement a new way of thinking about responsibility.The book is an enjoyable read and packed with suggestions for action. ... Read more

Book Description

An updated manual for an evolving industry

The Fourth Edition of this classic resource shifts from an exclusive university emphasis to include all businesses and industries, reflecting the changing demands of this dynamic field.Revised and updated material includes procedural reviews of internal controls, tests of conformance to acceptable accounting principles, and reviews of the application of rules and procedures to ensure consistency and reliability.You can turn to this revised standard for a step-by-step plan to prepare pertinent and accurate accounting manuals, determine which formats to use, as well as maintain and update information.Other contents include details on the general accounting manual, a policy/procedure statement, forms manual, data processing manual, user manual, and information release system.Packed with over 150 examples of actual documents, this Fourth Edition offers comprehensive guidance on repairing and maintaining effective accounting manuals. ... Read more

Book Description

Accounting is about decision making using financial information.The text focuses on developing a students the ability to critically analyze accounting information and make informed business decisions.Students are exposed to a lot of real-world examples where they can see the effect that accounting information has on the decisions made by real companies.Also chapters are split into basic and expanded material so that the professor can easily cover the basics of a topic or, if he or she prefers, delve deeper into a selected topic. Finally, analysis is incorporated throughout the text so that students can learn to use accounting information as they learn how that information is prepared. ... Read more

Book Description

Provides and integrated, action-oriented roadmap to all the control system tools and techniques that are needed to manage a business effectively.New accounting techniques including profit wheel analysis, and Strategic profitability analysis. Provides the most comprehensive presentation of the Balances scorecard approach by one of its originators. A carefully integrated structure.For managers and MBAs who are interested in learning more about Management Control Systems. ... Read more

Reviews (2)

Absolutely Fantastic
WITHOUT QUESTION this book is the best practical business text I have ever read. Thank you Robert for unequivocally adding value - in a meaningful and tangible way that can be taken to the market and capitalised on. It's books like this that inspire me to invest (what would otherwise be leisure) time in learning & continuing my education.

The book is clear, concise, comprehensive & practical, and helped wrap together many general strategy concepts into an effective action based set of implementation tools. VERY, VERY HIGHLY RECOMMENDED.

Comprehensive Integration with Strategy, Easy to Implement
I rarely get excited about textbooks, but this particular treatment of strategy, balancing leading and lagging indicators with a view of past, present and future, was enlightening. This book should be a "must read" for any mid- or senior- level manager. It shows how to make your decisions more fact-based and less 'art'. With the coming of age of "management of knowledge" this is a great tool to use to improve business processes. Definitely worth every single penny spent - but especially if you are interested in learning tangible methods! ... Read more

Book Description

* Details how cost accounting systems work and how the resulting information can be used.
* Includes a list of the most common costing problems, along with recommended solutions.
* Provides case studies on costing issues and sample journal entries for the most common cost entries.
* Includes a dictionary of cost accounting terminology.
* Includes flowcharts and control point listing for several types of costing systems. ... Read more

Reviews (5)

Horngen's book better
I am currently inplementing a project/job accounting system. This book was fine as an overview but of little use otherwise. Horngren's Cost Accounting - A Managerial Emphais was also purchased. Horngren's book was better as an overview and for the theory and details of implemtation.

Cost Accounting & Beyond
This really is a COMPREHENSIVE guide to the numerous and varied aspects of the subject matter. It is a MUST READ for all professionals whose responsibilities are impacted by the cost accounting needs of their organization.

An Excellent and Practical Guide to Cost Accounting
In today's economic environment the role of the cost accountant has become more complex and vital to an organization's success. Cost Accounting: A Comprehensive Guide is a practical resource for the professional. How refreshing to have a cost accounting book that addresses the daily issues encountered in the operations of a company rather than a theoretical approach to the subject. I recommend this book to the entry-level cost accountant through the well-seasoned practitioner. Excellent!

Complete and up to date
Comprehensive is the right word. It's been twenty years since I took cost accounting and the fundamentals haven't changed, however, the world has. Bragg's comprehensive guide is up to date and complete. It's a solid addition to our library and has practical ideas for using systems and technology that we need in the real world. Well worth the price.

This Cost Accounting book can make you a Hero!
As a practicing cost accountant for over 20 years, I know that in tough times, companies need cost accounting and control to remain (or become) profitable. It is as cyclical as the economy. If you are in such a situation, this book will guide you through the process. The payoff can be very big and, once in place it is easily maintained. Five star recommendation for this book. Keep it on you desk.

The book is written primarily for the practicing ( or would-be) cost accountant or accounting manager. It starts with a discussion of how cost accounting (CA) can be used most effectively to help management. The crux of CA is to improve costs in the organization. Why you need it, what data to collect, how to collect it, what to do with it.

There are 7 parts to the book covering 40 chapters. The shorter segments allow the reader to quickly locate important information without digging through the index. This is a very handy feature that most accounting tomes don't address. The book addresses;

The Purpose of Cost Accounting, Role of Cost Accounting, Cost Accountant's Job, Ethics (Really!), Costing Systems and Data Collection, Data Collection Systems, Timekeeping, Chart of Accounts, Cost Accounting Software, Paper-based documents, Costing Methodologies, Job Costing, Process Costing, Direct Costing, Standard Costing, Last-in-first-out (LIFO), FIFO and Average costing, Throughput Costing, Joint and by-product costing, Activity-based costing, Target costing, Costing systems summary (which is most (and least) useful, Using Costs in Pricing, Variance and Operational Analysis, Variances, Spoilage, waste and scrap, Cost-volume-profit, Analysis reporting, Managing Costs, Control Systems, Capital budgeting, Capacity management, Material requirements planning (MRP), Just-in-time (JIT), Quality, Cost variability, Pricing Issues, Transfer pricing, Pricing laws, Corporate strategy, Benchmarking, Valuing inventory, Best practices, Budgeting, Service environments, Spreadsheets, Taxation, Fraud, and a Bibliography and Glossary. Very comprehensive.

This is a quite an array of problems the book addresses. It is a highly recommended reference for the practicing Cost Accountant, or anyone for that matter who wants to know where to start controlling their own costs. Let's face it. All the really easy problems, in your company, have probably been resolved long ago. What's left are opportunities waiting to be discovered. ... Read more

Book Description

This reader contains thirty-nine recent business press and academic articles--all representing state-of-the-art thinking and examples on a wide variety of management accounting topics in many types of service and manufacturing contexts.Includes readings from many cutting-edge sources (e.g., The Wall Street Journal, Management Accounting, Journal of Cost Management, Harvard Business Review, and others) on topics in such areas as Management Accounting: Information That Creates Value. A Framework For Management Accounting And Control Systems. Cost Management Concepts And Cost Behavior. Traditional Cost Management Systems. Activity Based Cost Management Systems. Using Management Accounting Information For Activity And Process Decisions. Using Management Accounting Information For Pricing And Product Planning. Using Management Accounting Information For Investment Decisions. Management Accounting And Control Systems For Strategic Purposes: Assessing Performance Over The Entire Value Chain. Motivating Behavior In Management Accounting And Control Systems. Using Budgets To Achieve Organizational Objectives. Organizational Design, Responsibility Centers And Financial Control.For Cost and Management Accountants. ... Read more

Book Description

This comprehensive guide provides all the necessary concepts of capital investment evaluation, capital budgeting, and decision analysis. Mian takes the reader step-by-step through the decision-making process, providing comprehensive coverage of all decision analysis tools currently available while outlining how investment decisions are made under different stages of risk. Further, he focuses on practical application, using a straightforward approach with solved "real-life" examples and solutions, end-of-chapter problems, and illustrations throughout the book.

Key Features & Benefits

Become familiar with the practical applications of various capital budgeting techniques (the deterministic phase) and decision analysis methods (the probabilistic phase)

Intelligently interpret the profitability measures as applied to oil & gas projects

Assess the risks when investing in the oil & gas business

Assess the face value of the reports issued by planning/economic engineers

Model the presented methods on their computer ... Read more

Book Description

Praise for Strategic Corporate Tax Planning

"Business decision-makers need to think bottom line, and that means after taxes. This book does a fine job of helping managers get to the bottom line without getting bogged down in the details of taxes." –Donald H. Dye, Dean, the Graduate School of Management at the University of California, Riverside, former CEO, Callaway Golf

"This book is a must for any engineer who goes into management, or goes out on his own." –John N. Friend, Vice President and Chief Engineer, Delta Scientific Corp., Valencia, California

"Perhaps the books greatest value is in providing a window into the American business mind." –Kelvin Ketteringham, Managing Director, Caversham Ltd., Reading, England

"Strategic Corporate Tax Planning is a great handbook for entrepreneurial professionals." –Steve S. Gupta, MD, La Canada-Flintridge, California ... Read more