By Steven M. Bragg
Modern controllers are not any longer visible as technicians who technique transactions; they're now visible as enterprise executives with a wide-ranging wisdom of overall enterprise operations, top practices, and company approach. offering a entire assessment of the jobs and tasks of controllers in latest setting, this 8th variation of Controllership maintains to supply controllers and vice presidents of finance with all elements of administration accounting from the controller's standpoint, together with inner keep an eye on, revenue making plans, expense keep an eye on, stock, and monetary disclosure.
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Additional resources for Controllership: The Work of the Managerial Accountant
Example text
Target costing. This costing methodology is the most proactive of all the methodologies, for it involves the direct intervention of the cost accounting staff in the product design process, with the express intent of creating products that meet preset cost and gross margin goals. This is opposed to the usual practice of accumulating costs after products have been designed and manufactured, so that managers find out what a product costs after it is too late to make any changes to the design. This costing system is highly recommended to any company that designs its own products, since it can result in significant reductions in product costs before they are locked in when the design is completed.
In addition, it is wise to outsource the repair and maintenance of all office equipment and the telephone system to a qualified supplier. This reduces the controller’s day-to-day management to contacting suppliers and ensuring that the administrative staff is supplemented by a sufficient number of temporary help to complete short-term projects, such as special mailings, that pass through this area. The most common administrative functions are: Answering incoming calls Ensuring that all office equipment is operational Ensuring that the telephone system is operational Managing administrative staff Handling mail Working with temporary help agencies to bring in personnel for special projects Finally, the controller sometimes manages the computer services function.
In most instances, the controller who is designing a data collection system will need to use a mix of these options to ensure that the correct mix of high data accuracy and low collection cost is achieved. Processing: Data Summarization Systems Having covered the data collection portion of cost accounting, we now move to the various costing methodologies that are available for processing the raw data into a format that is most useful for management consumption. The primary advantages and disadvantages of the systems whose functions are noted in the following sections are: Job costing.