Management Accounting Best Practices

 

 

By Steven M. Bragg

I have reviewed many books in the Wiley Best Practices series and many by Steven Bragg. This book recognizes the fact that there is more to accounting than standards. The author discusses decision areas for budgeting (including capital), credit and collection, control systems, financial analysis, payroll, inventory, cost allocation, performance responsibility, product design, pricing and quality. Each chapter poses questions that a management accountant would ask and then provides answers. The best practices follow the Q&A sections in each chapter and are straightforward in layman’s terms with bullets, and flowcharts (pre and post best practice). For example the payroll decision chapter has 15 sections and each section begins with a question. How can I automate time clock collection data? How do employees enter their own payroll changes? Many of the questions will look familiar to an auditor as they cover many audit areas. For example what type of performance measures should I use? The author has considerable experience from both sides of the fence as a CFO or controller and an auditor/consulting manager at Big 4 firms.

 

I like best practice books for both operational managers as well as auditors. What better way to make management look good than by providing them with excellent advice on how to improve their operations. The author also provides a knowledge resource feed (a Digital Literacy competency) in the form of a best practices newsletter and accounting best practice podcast. Sign up for these at www.stevebragg.com