Management Control Systems Performance Measurement Evaluation and Incentives 4th Edition by Kenneth Merchant, Wim Van der Stede ISBN 9781292110585 1292110589

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ISBN 10: 1292110589

ISBN 13: 9781292110585

Author: Kenneth Merchant, Wim Van der Stede

This best-selling and market-leading text gives students a thorough understanding of the core concepts and key topics of management control and related performance measurement and incentive systems, processes, and critical trade-offs in their design and use, employing a wide range of international case studies and real life examples. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you will receive via email the code and instructions on how to access this product. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

 

Management Control Systems Performance Measurement Evaluation and Incentives 4th EditionTable of contents: 

SECTION I The Control Function of Management

1 Management and Control

Management and control

Causes of management control problems

Characteristics of good management control

Control problem avoidance

Control alternatives

Outline of this text

Notes

Leo’s Four-Plex Theater

Wong’s Pharmacy

Private Fitness, Inc.

Atlanta Home Loan

SECTION II Management Control Alternatives and their Effects

2 Results Controls

Prevalence of results controls

Results controls and the control problems

Elements of results controls

Conditions determining the effectiveness of results controls

Conclusion

Notes

Office Solutions, Inc.

Puente Hills Toyota

Kooistra Autogroep

Houston Fearless 76, Inc.

3 Action, Personnel, and Cultural Controls

Action controls

Action controls and the control problems

Prevention vs. Detection

Conditions determining the effectiveness of action controls

Personnel controls

Cultural controls

Personnel/cultural controls and the control problems

Effectiveness of personnel/cultural controls

Conclusion

Notes

Witsky and Associates, Inc.

The Platinum Pointe Land Deal

EyeOn Pharmaceuticals, Inc.

Axeon N.V.

4 Control System Tightness

Tight results control

Tight action controls

Tight personnel/cultural controls

Conclusion

Notes

Controls at the Bellagio Casino Resort

PCL: A Breakdown in the Enforcement of Management Control

5 Control System Costs

Direct costs

Indirect costs

Adaptation costs

Conclusion

Notes

Philip Anderson

Sunshine Fashion: Fraud, Theft, and Misbehavior among Employees

Better Beauty, Inc.

Fit Food, Inc.

Atlantis Chemical Industries

6 Designing and Evaluating Management Control Systems

What is desired and what is likely

Choice of controls

Choice of control tightness

Adapting to change

Keeping a behavioral focus

Maintaining good control

Notes

Diagnostic Products Corporation

Game Shop, Inc.

Family Care Specialists Medical Group, Inc.

SECTION III Financial Results Control Systems

7 Financial Responsibility Centers

Advantages of financial results control systems

Types of financial responsibility centers

Choice of financial responsibility centers

The transfer pricing problem

Conclusion

Notes

Kranworth Chair Corporation

Zumwald AG

Global Investors, Inc.

8 Planning and Budgeting

Purposes of planning and budgeting

Planning cycles

Target setting

Planning and budgeting practices, and criticisms

Conclusion

Notes

Royal Wessanen NV

The Stimson Company

Multiple Versions of the Plan

Vitesse Semiconductor Corporation

VisuSon, Inc.: Business Stress Testing

9 Incentive Systems

Purposes of incentives

Monetary incentives

Incentive system design

Criteria for evaluating incentive systems

Group rewards

Conclusion

Notes

Harwood Medical Instruments PLC

Superconductor Technologies, Inc.

Raven Capital, LLC

SECTION IV Performance Measurement Issues and Their Effects

10 Financial Performance Measures and Their Effects

Value creation

Market measures of performance

Accounting measures of performance

Investment and operating myopia

Return-on-investment measures of performance

Residual income measures as a possible solution to the ROI measurement problems

Conclusion

Notes

Behavioral Implications of Airline Depreciation Accounting Policy Choices

Las Ferreterías de México, S.A. de C.V.

Industrial Electronics, Inc.

Haengbok Bancorp

Corbridge Industries, Inc.

King Engineering Group, Inc.

Berkshire Industries PLC

11 Remedies to the Myopia Problem

Pressures to act myopically

Reduce pressures for short-term profit

Control investments with preaction reviews

Extend the measurement horizon (use long-term incentives)

Measure changes in value directly

Improve the accounting measures

Measure a set of value drivers

Conclusion

Notes

Catalytic Solutions, Inc.

Dortmunder-Koppel GmbH

Johansen’s: The New Scorecard System

Mainfreight

Statoil

12 Using Financial Results Controls in the Presence of Uncontrollable Factors

The controllability principle

Types of uncontrollable factors

Controlling for the distorting effects of uncontrollables

Other uncontrollable factor issues

Conclusion

Notes

Olympic Car Wash

Beifang Chuang Ye Vehicle Group

Hoffman Discount Drugs, Inc.

Howard Building Corporation, Inc.

Bank of the Desert (A)

Bank of the Desert (B)

Fine Harvest Restaurant Group (A)

Fine Harvest Restaurant Group (B)

SECTION V Corporate Governance, Important Control-Related Roles, and Ethics

13 Corporate Governance and Boards of Directors

Laws and regulations

The Sarbanes-Oxley Act

Boards of directors

Audit committees

Compensation committees

Conclusion

Notes

Arrow Motorcar Corporation

Golden Parachutes?

Pacific Sunwear of California, Inc.

Entropic Communications, Inc.

Bio/Precise Medical Devices, Inc.

14 Controllers and Auditors

Controllers

Auditors

Conclusion

Notes

Don Russell: Experiences of a Controller/CFO

Desktop Solutions, Inc. (A): Audit of the St. Louis Branch

Desktop Solutions, Inc. (B): Audit of Operations Group Systems

Andrew G. Scavell, Chief Risk Officer

15 Management Control-Related Ethical Issues

Good ethical analyses and their importance

Why do people behave unethically?

Some common management control-related ethical issues

Spreading good ethics within an organization

Conclusion

Notes

Two Budget Targets

Conservative Accounting in the General Products Division

Education Food Services at Central Maine State University

The “Sales Acceleration Program”

The Expiring Software License

Wired, PLC

Mean Screens USA, Inc.

Lernout & Hauspie Speech Products

Ethics Cisco

SECTION VI Management Control When Financial Results Are Not the Primary Consideration

16 Management Control in Not-for-profit Organizations

Corporations, B corporations, and not-for-profits

Key differences between for-profit and not-for-profit organizations

Goal ambiguity and conflict

Difficulty in measuring and rewarding performance

Accounting differences

External scrutiny

Employee characteristics

Conclusion

Notes

SCI Ontario: Achieving, Measuring, and Communicating Strategic Success

University of Southern California: Responsibility Center Management System

Index

 

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