This book is about financial accounting and management control and
how these two information systems are related as well as how their
objectives conflict. At the most fundamental level, the objective
of financial accounting is to provide owners and funders with
comparable information on a company's value creation. The aim of
management control, on the other hand, is to give the board, senior
executives and employees unique information for strategy
formulation and implementation. One often-mentioned negative effect
is the risk of financial accounting affecting management control
design and use, making it less relevant for decision-making at the
company level. The book provides an analysis of the complex
relationship between financial accounting and management control.
The analysis is based on theoretical reasoning as well as several
examples of how financial accounting standards affect not only the
annual report but also the control system. An interesting, and
perhaps unexpected conclusion is that management control seems to
affect financial accounting almost as much as financial accounting
affects management control. These complex relationships, which can
influence the design and use of both financial accounting and
management control, are discussed in detail in this book.
General
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