* Includes practical case studies from real-life companies going through the process
* Pays particular attention to IAS 39 on Fair Value
Table of Contents
- PART ONE BUSINESS COMPETITION, STANDARDS BOARDS, AND CORPORATE ACCOUNTING: Chapter 1 NEW RULES OF COMPETITION AND ACCOUNTING STANDARDS; Chapter 2
INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) AND CORPORATE GOVERNANCE; Chapter 3 DYNAMICS OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS); Chapter 4 THE CONTROVERSY OVER IAS 39; Chapter 5
IAS 39 AND THE RECOGNITION OF DERIVATIVES RISK. PART TWO IMPLEMENTING IFRS: Chapter 6 PROJECT MANAGEMENT FOR IMPLEMENTATION OF IFRS; Chapter 7 AN IFRS TASK FORCE CASE STUDY. TOP MANAGEMENT'S RESPONSIBILITY FOR FAIR VALUE ACCOUNTING. PART THREE MANAGEMENT ACCOUNTING AND THE BUDGET: Chapter 8 MANAGEMENT ACCOUNTING AND CORPORATE GOVERNANCE; Chapter 9 BUDGETING. A CASE STUDY ON FINANCIAL PLANNING; Chapter 10 VALUING ASSETS. THE CHALLENGE OF BEING "RIGHT"; Chapter 11 BUSINESS ETHICS ADD VALUE TO FINANCIAL DISCLOSURES; Chapter 12 FORWARD LOOKING STATEMENTS, MODELS, EARNINGS, AND GOODWILL. PART FOUR CORPORATE GOVERNANCE AND THE BALANCE SHEET: Chapter 13 BALANCE SHEETS AND INCOME STATEMENTS AS MANAGEMENT TOOLS; Chapter 14
ECONOMIC CAPITAL IS AT BOTH SIDES OF THE BALANCE SHEET; Chapter 15 THE REAL-TIME MANAGEMENT REPORT;
Chapter 16 INTERNAL CONTROL, STRESS TESTING, AND EFFECTIVE RISK MANAGEMENT; Chapter 17 ROLE OF THE AUDIT COMMITTEE.
The book divides into four parts.
Part One: addresses the fundamentals of management accounting as contrasted to regulatory accounting procedures and financial reporting by public companies.
This text is the product of personal experience, and much experimentation at major companies, in efforts to determine how their managers can best understand the firms vital accounting figures, and how company goals can be met in a cost/effective manner.
The text explains the function of management accounting and of internal management accounting information systems – (IAMIS).
It emphasizes the benefits from accumulation and communication of financial data concerning the entity's economic activity. This notion includes:
*The budget which is a financial plan, and
*Budgetary control to assure that planned and financed activities are executed in the intended manner.
Part Two: focuses on the concept and practice of experimentation through simulation.
First, it defines financial modeling – its nature and its role. Then it demonstrates how and why financial modeling is concerned with the translation of business events into the language of decision-makers.
This presentation is enriched with a lot of comprehensive case studies.
The theme of Part Three is the organizational prerequisite for successful development, implementation and use of financial models – within the management accounting and budgeting perspective.
Organizations are made of people and, as this book demonstrates, their motivation is crucial in obtaining commendable results.
People are assisted through technology. Therefore, the book outlines the necessary technological infrastructure, and, by means of practical examples, it explains how it can be used effectively.
- No. of pages: 412
- Language: English
- Copyright: © Butterworth-Heinemann 2006
- Published: February 24, 2006
- Imprint: Butterworth-Heinemann
- eBook ISBN: 9780080461663
- Paperback ISBN: 9780750668958
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