Add value to services and increase revenue while giving your clients more of what they need

Operational Profitability, Second Edition explains in complete detail how to conduct a management audit that will give clients the essential information they need in today’s fiercely competitive marketplace. At the same time, it enables CPA firms and CEOs to expand their range of services, strengthen business relationships, and increase profits. This newly updated and revised Second Edition walks you through all the steps of a management audit and explains:

• The basic techniques of the management audit, what it involves, how to set it up, and how to establish a clear set of organizational goals
• How to rethink and rebuild an organization from the bottom up
• How to use a full range of analytical tools for identifying problem areas throughout the company
• How to assess the way a firm manages inventory, purchasing, production planning, and operations
• How to evaluate and reduce operating costs

Praise for the First Edition of Operational Profitability…

"A great operating manual for general managers and vice presidents . . . A complete how-to program."
–William Hoban, CEO, Green Bay Drop Forge, Green Bay, Wisconsin

"The most complete profitability program I’ve seen. The examples and checklists are excellent. It has saved my clients millions."
–Chuck Wadowski, CEO, TMQ Consultants, Detroit, Michigan

"[An] outstanding reference source for the modern manager; very impressive."
–Arnold Bradburd, CEO, Interstate Steel Company, Philadelphia, Pennsylvania

"[Operational Profitability] provides valuable data on operational efficiency and additional service opportunity beyond the usual audit . . . [It] provides the basis of helpful recommendations [and] provides much useful reading guidance for the performance of a management audit."
–Alexander A. H. Bohtling, CPA, CPA Journal

The way in which leverage and its expected dynamics impact on firm valuation is very different from what is assumed by the traditional static capital structure framework. Recent work that allows the firm to restructure its debt over time proves to be able to explain much of the observed cross-sectional and time-series variation in leverage, while static capital structure predictions do not. The purpose of this book is to re-characterize the firm's valuation process within a dynamical capital structure environment, by drawing on a vast body of recent and more traditional theoretical insights and empirical findings on firm evaluation, also including asset pricing literature, offering a new setting in which practitioners and researchers are provided with new tools to anticipate changes in capital structure and setting prices for firm's debt and equity accordingly.

With a clear and comprehensive style, this text leads readers through their studies of Financial Accounting step-by-step, perfectly balancing theory and real-life practice. It includes topical coverage of corporate governance, international accounting standards, statement of principles (SOP), e-business, and information technology as they apply to financial accounting. This lively and up-to-date text is perfect for introductory financial accounting modules delivered as part of a business degree or MBA programmes and is full of examples, exercises and cases studies to aid students' understanding of the subject.

This book demonstrates what kind of problems, originating in a management accounting setting, may be solved with game theoretic models. Game theory has experienced growing interest and numerous applications in the field of management accounting. The main focus traditionally has been on the field of non-cooperative behaviour, but the area of cooperative game theory has developed rapidly and has received increasing attention. Intensive research, in combination with the changing culture of publishing, has produced a nearly unmanageable number of publications in the areas concerned. Therefore, one main purpose of this volume is providing an intensive analysis of the intersection of these areas. In addition, the book strengthens the relationship between the theory and the practical applications and it illustrates the two-sided relationship between game theory and management accounting: new game theoretic models offer new fields of applications and these applications raise new questions for the theory.

Advances in Management Accounting (AIMA) is a publication of quality applied research in management accounting. The journal's purpose is to publish thought-provoking articles that advance knowledge in the management accounting discipline and are of interest to both academics and practitioners. As one of the premier management accounting research journals, AIMA is well-poised to meet the needs of management accounting scholars. Featured in Volume 31 are articles on: Competitor monitor and revenue management in hotels; The tie between CEO compensation and the 2008 financial crisis; The inclusion of qualitative measures in CEO incentive compensation; The association between performance-based pay and employee honesty; Managerial ability's linkage to earnings management within discontinued operations; Cash-to-cash and its association with long-term profitability in the manufacturing industry.

With over 40 case studies, Management Accounting: A Cases Approach is an ideal companion for students who want to reinforce and deepen their understanding of management accounting theories by working on real accounting challenges.

The book aims to show what managers need when solving daily problems in management accounting, in a real, practical setting.

It is exceptionally well suited for Master’s programs and Management training programs where participants need to see the usefulness of analysis.

Containing simple to advanced level cases, they are ordered by subject matter such as

·         Budgeting and planning

·         Cost Accounting

·         Internal transfer pricing

·         Corporate capital investment decisions

Environment management and protection are top global priorities. Between cyclones affecting more than 2.6 million people across Mozambique, Malawi and Zimbabwe, and tornadoes ripping through the Mid-West in the United States, climate change is front and centre in the public mind. The six papers in this volume of Advances in Environmental Management and Accounting provide much needed information for academics, practitioners and policy makers about environmental accounting and management in Africa. Despite one of the UN's Sustainable Development Goals (SDGs) being Climate Action, very little is known about environmental accounting and management practices in Africa. Including research based on South Africa and Nigeria, two of the largest contributors to greenhouse gas emissions, the research here is a significant contribution to understanding these practices. This volume asks: how useful is environmental and social information to regulators, investors, financial institutions and practitioners? To what extend do food producers report on their water use given that water shortage is among the top 10 global risks? What influences the adoption of environmental management techniques? How do different environmental management practices affect the financial performance of Small and Medium-Sized enterprises? Are environmental management and reporting regulations complied with and if not why?

The effects of recent economic and financial crises have reached an international scale; a number of different nations have experienced the fallout of these events, calling into question issues of accountability and reform in public management. Global Perspectives on Risk Management and Accounting in the Public Sector is a pivotal reference source for the latest research on current developments and future directions of the regulation, financial management, and sustainability of public institutions. Featuring discussions on risk assessment, transparency, and information disclosure, this book is ideally designed for regulatory authorities, researchers, managers, and professionals working in the public domain.

Advances in Environmental Accounting & Management aims to advance knowledge of the governance and management of corporate environmental impacts and the accounting for these, including issues related to measurement, valuation, and disclosure. It also aims to increase the awareness of management, accounting practitioners, investors and other stakeholders of the financial and social consequences of corporate environmental impacts, encouraging greater environmental accountability and responsibility. The first chapter in this volume (Dr Yousuf Kamal) is set in the context of the Bangladeshi garment industry, while the second chapter (Delphine Gibassier) explores the practice of water accounting. The remainder of this volume presents three chapters from the 3rd French Conference on Social and Environmental Accounting Research, guest edited by Sophie Giordano-Spring, Jonathan Maurice and Charles H. Cho. These chapters consider sustainability in Canadian CPA teaching programmes (Emilio Boulianne and S. Leanne Keddie); mandatory environmental reporting in France (Juliette Senn); and CSR reporting practices in Brazil and South Korea (Hyemi Shin and Adrian Zicari).

In recent years, nonprofit and voluntary organisations have faced challenges and unanticipated pressures as a result of increased competition for funding, technological advancements, the need to comply with government regulations, and increased social and community expectations regarding greater accountability and transparency. Cost accounting and cost management tools are considered to be a means of providing adequate and quality information for management control for all sorts of organisations, including nonprofits. Using empirical evidence from the Australian nonprofit sector, this research monograph offers insight into how nonprofit and voluntary organisations control and manage the costs of their operations and projects through cost accounting and cost management tools. The book will be of benefit to a range of stakeholders in the sector, including financial and management accountants, professional accounting bodies, the government, policymakers, academics, consultants and operational managers.

Many auditors are now encountering Agile management methodologies for the first time. In some cases, this can cause problems for the audit process because the methodology is very different from traditional approaches. Aside from the difficulties faced by the auditor, an ineffective audit can have a negative effect on an Agile project by giving a false impression of its progress. It might even harm the final project outcome. Written for auditors and Agile managers, Agile Governance and Audit bridges the gap between traditional auditing approaches and the requirements of Agile methodologies. It provides an overview of Agile for auditors and other risk professionals who have not encountered the approach before. The book also tells Agile teams what auditors and risk professionals need, and the sort of questions they are likely to ask. Each chapter includes hints and tips for auditors, and a selection of case studies is included to illustrate the practical issues involved in auditing Agile projects. This makes it an ideal book for any auditor encountering the Agile methodology, and any Agile teams preparing for a management audit. This book will enable you to understand how to get the most out of Agile audits, whatever your role.

This work outlines a state-of-the-art project control and trending programme, focusing on advanced applied-cost and schedule-control skills for all phases of a project at both owner and contractor level. It contains information on the three major aspects of the total project programme: the techniques and procedures utilized for a project; the experience and analytical ability of project personnel; and the commitment and teamwork of a project group.

A complete and definitive guide to auditing the security of IT systems for managers, CIOs, controllers, and auditors

This up-to-date resource provides all the tools you need to perform practical security audits on the entire spectrum of a company’s IT platforms–from the mainframe to the individual PC–as well as the networks that connect them to each other and to the global marketplace. Auditing and Security: AS/400, NT, Unix, Networks, and Disaster Recovery Plans is the first book on IT security written specifically for the auditor, detailing what controls are necessary to ensure a secure system regardless of the specific hardware, software, or architecture a company runs. The author uses helpful checklists and diagrams and a practical, rather than theoretical, method to understanding and auditing a company’s IT security systems and their requirements. This comprehensive volume covers the full range of issues relating to security audits, including:

• Hardware and software
• Operating systems
• Network connections
• The cooperation of logical and physical security systems
• Disaster recovery planning

This book provides a critical analysis of the current state of knowledge on the relationship between family firms and a wide range of accounting choices, including earnings management, accounting conservatism, and financial and non-financial disclosure. In examining the choices made in family firms, the authors explore and elucidate the relevance of agency, socioemotional wealth, stewardship, and resource-based theories. Readers will also find close consideration of the impacts of a country's culture and societal values on accounting choices. In particular, further evidence is provided on the impact of different cultures on accounting conservatism in family businesses. Finally, avenues for future accounting research on family firms are discussed, highlighting theoretical and empirical challenges. In addition to offering a revealing analysis of the influence of ownership types and cultures on accounting choices within family firms, the book identifies significant practical implications for the management of family firms and policy implications for regulators and standard setters.

Auditing Fundamentals covers the exciting and developing financial area of both External and Internal auditing in a clear and reader friendly way. This up-to-date textbook examines the fundamentals of auditing in terms of legislation, codes affecting the profession, and the International Auditing Standards.

Advances in Environmental Accounting and Management has three main objectives. First, it enhances understanding of global environmental issues, especially valuation and disclosure of environmental impacts of firms' activities. Second, it makes management, investors and other stakeholders aware of the financial and economic consequences of our failure to address the environmental issues. Third, it encourages management to improve the firm's environmental performance and disclosures.

Research on Professional Responsibility and Ethics in Accounting is devoted to publishing high-quality research and cases that focus on the professional responsibilities of accountants and how they deal with the ethical issues they face. The series features articles on a broad range of important and timely topics, including professionalism, social responsibility, corporate responsibility, ethical judgments, and accountability. The professional responsibilities of accountants are broad-based; they must serve clients and user groups whose needs, incentives, and goals may be in conflict. Further, accountants must interpret and apply codes of conduct, accounting and auditing principles, and securities regulations. Compliance with professional guidelines is judgment-based, and characteristics of the individual, the culture, and situation affect how these guidelines are interpreted and applied, as well as when they might be violated. Interactions between accountants, regulators, standard setters, and industries also have ethical components. Research into the nature of these interactions, resulting dilemmas, and how and why accountants resolve them is the focus of this journal.

This book investigates how corporate governance is directing the internal audit function (IAF) adaptation as a response to enterprise resource planning (ERP) systems. To date, there is insufficient knowledge about the adaptations of the IAF, which are required if it is to maintain its essential role as a governance mechanism. This book extends the reader's knowledge by exploring and theorising the adaptation of the IAF after ERP introduction and points towards future trends. Adopting an institutional approach, it analyses how the IAF responds to the external governance pressures and the internal pressures of the control logic following the introduction of an ERP system. Featuring data from two listed companies in the food and beverage sector and two large banks operating in Egypt, this volume will be of interest to researchers and academics in the field of financing and ERP systems in particular.

Accountants and bookkeepers are working long hours but not making the profits they should. A value pricing strategy can lead to better prices for accounting professionals and better results for their clients. The concept of value pricing is simple to understand but many accountants struggle with the price conversation and lack the confidence to charge higher prices. Value Pricing for Accounting Professionals is a practical guide to building a clear pricing strategy, feeling more confident and increasing earnings. It covers the critical steps to pricing a new client and how to re-price existing clients without losing them by quantifying value. The book's step-by-step approach is backed up by dozens of real-life case studies of firms which applied these methods to get better results, along with benchmarking research based on a survey of thousands of accounting professionals. There is guidance on calculating a profitable price, creating effective packages and managing the 'invisible' cost of scope creep, and new insights into meeting clients remotely and pricing in difficult economic times. Become more profitable and deliver extraordinary solutions to clients with this essential guide to effective value pricing.

Published in 1963, this book about the famous accountant and bookkeeper Luca Paciolo explores his extraordinary contribution to the development of the accounting profession. Paciolo is the first known writer to publish a work describing the double entry process.

This volume explores the impact of good governance upon social sectors' development in India and other selected economies of the world. Economic development in the true sense depends on the development of different social sectors like education, healthcare, gender equality, etc., as well as economic factors. Good governance makes the sectors perform well on the one hand, and helps in economic growth and development on the other. Conversely, bad or weak governance in the form of corruption and low effectiveness of the governments, may lead to poor performance of the sectors, and low growth and backwardness of the economies. This book explores the associations between different social sectors' performances with quality of governance, and growth and development of different economies and groups in detail and establishes theoretical and empirical examinations for the individual economies and groups from the different corners of the globe with the help of new theories and latest data. This book will be useful for students and researchers in the fields of Economics, Sociology, Political Studies, Public Finance, International Relations, Social Sciences as well as policy makers and think tanks.

The derivative practitioner s expert guide to IFRS 9 application Accounting for Derivatives explains the likely accounting implications of a proposed transaction on derivatives strategy, in alignment with the IFRS 9 standards. Written by a Big Four advisor, this book shares the author s insights from working with companies to minimise the earnings volatility impact of hedging with derivatives. This second edition includes new chapters on hedging inflation risk and stock options, with new cases on special hedging situations including hedging components of commodity risk. This new edition also covers the accounting treatment of special derivatives situations, such as raising financing through commodity-linked loans, derivatives on own shares and convertible bonds. Cases are used extensively throughout the book, simulating a specific hedging strategy from its inception to maturity following a common pattern. Coverage includes instruments such as forwards, swaps, cross-currency swaps, and combinations of standard options, plus more complex derivatives like knock-in forwards, KIKO forwards, range accruals, and swaps in arrears. Under IFRS, derivatives that do not qualify for hedge accounting may significantly increase earnings volatility. Compliant application of hedge accounting requires expertise across both the standards and markets, with an appropriate balance between derivatives expertise and accounting knowledge. This book helps bridge the divide, providing comprehensive IFRS coverage from a practical perspective. * Become familiar with the most common hedging instruments from an IFRS 9 perspective * Examine FX risk and hedging of dividends, earnings, and net assets of foreign subsidies * Learn new standards surrounding the hedge of commodities, equity, inflation, and foreign and domestic liabilities * Challenge the qualification for hedge accounting as the ultimate objective IFRS 9 is set to replace IAS 39, and many practitioners will need to adjust their accounting policies and hedging strategies to conform to the new standard. Accounting for Derivatives is the only book to cover IFRS 9 specifically for the derivatives practitioner, with expert guidance and practical advice.

For courses in introductory financial accounting. A student-centered approach to financial accounting Accounting is the language of business, and understanding the role accounting plays in business is critical to a student’s success in earning a business degree. Financial Accounting puts the focus on the purpose of Accounting in business. With student-friendly examples and streamlined chapters, the 12th Edition delivers a student-centric approach to learning financial accounting. Time-tested resources like the Turnkey Case Resources, help students grasp the practical concepts of accounting, so that they can put them into practice in their future business careers.  Also available with MyLab Accounting By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student.  Note: You are purchasing a standalone product; MyLab Accounting does not come packaged with this content. Students, if interested in purchasing this title with MyLab Accounting, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.  If you would like to purchase both the physical text and MyLab Accounting, search for: 0134833139 / 9780134833132 Financial Accounting Plus MyLab Accounting with Pearson eText -- Access Card Package, 12/e   Package consists of: 0134725980 / 9780134725987 Financial Accounting 0134727673 / 9780134727677 MyLab Accounting with Pearson eText -- Access Card -- for Financial Accounting 

This bestseller text offers clear, simple-to-understand and comprehensive coverage of management and cost accounting. Management and Cost Accounting, 8th edition brings together techniques, concepts and practices in a way that is readable and with language that is easy to follow. Keeping its international focus, the text includes a wealth of case studies featuring companies from around the world, and offers up-to-date coverage of the most contemporary aspects affecting management accounting today, such as a greater emphasis on sustainability, as well as AI, automation and other technologies. Packed with illustrations, examples and real-life applications, this book will help you learn about the aspects of management accounting that are essential in your study and your future performance in the workplace. Key Features Up-to-date coverage of the impact of digitalisation and application of new technologies, including blockchain systems, artificial intelligence and more. Sustainability practices are now given more space with new examples covering topics such as renewable energy and initiatives to lessen environmental impact. A wealth of resources, including professional accountancy practice exercises, and end-of-chapter questions, provide opportunities to learn and develop exam ability. A range of new real-life applications in 'Concepts in Action' boxes show how managers use accounting techniques in the business world. Harvard Business School and other cutting-edge case studies illustrate how management accounting is deployed in different types of enterprise across the globe. Also available with MyLab Accounting MyLab (R) is the teaching and learning platform that combines trusted author content with digital assessments, help tools to use at point-of-need, and a flexible platform. MyLab Accounting for this book includes over 800 exercises on the topics in the book. If you would like to purchase both the physical text and MyLab (R) Accounting, search for: 9781292436012 Management and Cost Accounting 8th edition with MyLab Accounting Package consists of: 9781292436029 Management and Cost Accounting 8th edition 9781292435992 Management and Cost Accounting 8th edition MyLab Accounting 9781292436005 Management and Cost Accounting 8th edition eTextbook MyLab (R) Accounting is not included. Students, if MyLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN. MyLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.