Controllers as business strategists: a progress report

Article Abstract:

A Management Accounting magazine survey of controllers and CEO's in 272 Fortune 500 companies examined what role controllers play in corporate strategic planning. Participation levels of controllers was much higher than expected, ranging from 73% to 88%, depending on activity. Controllers also showed interest in establishing objectives, developing missions, formulating strategies, and monitoring past plans. CEO's, however, showed less enthusiasm for controllers' strategic planning aspirations. There was a significant difference between controllers' desires and CEO's wishes on all ten of the planning activities listed on the survey. Controllers are definitely a part of the strategic planning process, but must assert themselves more in the future with evidence of their abilities to work in unstructured environments and to contribute to nonquantitative decision-making.

Planning, Surveys, Accountants, Controllers (Persons), Controllers (Accounting), Management Accounting (Periodical)

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To buy or not to buy?

Article Abstract:

Corporate decisions on whether or not to purchase a business should be based on a comprehensive business plan prepared during the investigatory phase before a purchase. The format of the plan is crucial to its utility for decision-making. The plan should contain a prospectus and general business description and the summary projections of the business plan. The plan should also specifically include: the marketing plan; the proposed organizational structure; detailed profit and loss projections; cash flow projections; and management policies and goals. Finally, a detailed transition plan should be delineated for the phase during takeover of the purchased business.

Methods, Business planning

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What controllers should know about employee fringe benefits expense

Article Abstract:

Management accountants have traditionally had difficulty allocating employee fringe benefits expenses. Benefit expenses can be made more understandable by considering the elements of the expense, made up of statutory employee plans, and expense, and supplemental labor costs. Learning about the seasonality of costs, trends in costs, one-time costs, and unusual occurrences will also be valuable. It is a requirement to be able to level month-to-month expenses with total incurred salaries and wages for the year. Other issues to consider include: distribution, who levels what cost, and the salary and wage allocation basis.

Analysis, Finance, Accounting and auditing, Human resource management, Influence, Employee benefits, Allocation (Accounting)

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