Management Control Systems

Management Control Systems Performance Measurement, Evaluation and Incentives, 3rd Edition

Edited by Kenneth Merchant · Wim Van der Stede
Financial Times September 2011

Specifications

ISBN-13
9780273737612
Publisher
Financial Times
Publication
September 2011
Format
Paperback , 832 pages
Jurisdiction
International ? Countri(es) for reference only

Details

With its unique range of case studies, real life examples and comprehensive coverage of the latest management control-related tools and techniques, Management Control Systems is the ideal guide to this complex and multidimensional subject for upper level undergraduates, postgraduates and practising professionals.

Features:

  • In-depth analysis of the relationship between management theory and practice, with references to a host of specific decision-making situations.
  • Case studies and real-life examples drawn from an international range of firms and companies, including Toyota, Citibank, and Lincoln Electric.
  • Coverage of ethical and multinational issues, across a variety of businesses, industries and not-for-profit organizations.
  • Assessment of management control-related tools, including Balanced Scorecards and EVA™, as well as non-financial measures of performance.
  • Discussion of the similarities and differences between management control and internal control, with reference to Sarbanes-Oxley and similar movements worldwide.
  • Fresh emphasis on management control systems in relation to corporate governance.

 

New To This Edition:

  • Sarbanes-Oxley - coverage of Sarbanes-Oxley and similar regulatory movements in other countries has been updated.
  • Management verses Internal Control - discussion of the similarities and differences between management control and internal control has been expanded as has discussion of Enterprise Risk Management.
  • Incentive systems - changes to the incentive system since the 2008-2009 financial crisis and subsequent economic recession are covered in chapter 9.
  • Corporate governance - new coverage of corporate governance has been incorporated into chapter 13
  • Balanced scorecards and non-financial measures of performance – coverage of these topics have been revised and updated and a new case study from a major corporation with a very unique approach to this topic has been included.
  • Ethics – new and updated discussion of ethics in a dedicated chapter and several ethics-related examples have also been incorporated throughout the text.
  • Case Studies – many new case studies have been added and others updated. New shorter cases suitable for use in workshops or seminars have also been incorporated.
  • Updated and integrated recent theory and literature throughout the text.

 


Table of Contents

PART I: The Control function of Management
1        Management and Control

PART II: Management Control alternatives and their effects
2        Results Controls
3        Action, Personnel, and Cultural Controls
4        Control System Tightness
5        Control System Costs
 6        Designing and Evaluating Management Control Systems

PART III: Financial Results Control Systems
7        Financial Responsibility Centers
8        Planning and Budgeting
9        Incentive Systems         

PART IV: Performance measurement issues and their effects
10      Financial Performance Measures and their Effects
11      Combinations of Measures and Other Remedies to the Myopia Problem
12      Using Financial Results Control in the Presence of Uncontrollable Factors         

PART V: Corporate Governance, Important Control-related roles and Ethics
13      Corporate Governance and Boards of Directors
14      Controllers and Auditors 
15      Management Control-Related Ethical Issues and Analyses       

PART VI: Significant Situational influences on management control systems
16      The Effects of Environmental Uncertainty, Organizational Strategy, and 
           Multinationality on Management Control Systems
17      Management Control in Non-Profit Organizations

Index

About the Author

Kenneth A. Merchant is the Deloitte & Touche LLP Chair of Accountancy at the University of Southern California. He is well-known internationally in the field of management accounting, and is a part-time research professor at the University of Maastricht.

Wim A. Van der Stede is Professor of Management Accounting at the London School of Economics and Political Science. An author and teacher, he brings a European perspective and a wealth of experience to this book.

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