Controller's Guide to Planning and Controlling Operations - Hardcover

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STEVEN M. BRAGG, CPA, CMA, CIA, CPIM, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young. He is the author of seventeen books.

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The Controller s Guide to Planning and Controlling Operations is a comprehensive guide for controllers, CFOs, and budget managers who need to determine:

• The soundness of sales forecasts
• The best approach for setting product prices
• The profitability of customers and market segments
• Federal tax remittance rules
• The impact of a just-in-time system on inventory levels

Packed with clear and realistic strategies, it helps create a coherent framework of financial plans that apply to the full breadth of ongoing corporate control systems, as well as illustrates:

• When to use labor and materials standards to control manufacturing
• How to control research and development costs
• How to grant appropriate credit levels to customers
• How to set up an effective capital budgeting process
• How to create a cost-of-capital calculation

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Due to a lack of implemental know-how in the areas of planning and control, many companies are unable to successfully follow through with reasonable planning and control strategies. Companies with operations that are not managed with a consistent, detailed planning and control process are more likely to lapse into a less focused corporate direction, eventually resulting in reduced levels of profitability.

The Controller s Guide to Planning and Controlling Operations describes key planning and control activities in every major area of a company, ranging from sales and manufacturing to the management of cash, receivables, and inventory. Through clear and realistic strategies, it helps controllers create a coherent framework of financial plans that can be used as the basis for ongoing corporate control systems. All operations throughout a company are examined, including:

• Direct material and labor
• Marketing
• Cash and short-term receivables
• Research and development
• Sales
• General and administrative expenses
• Payroll

In-depth coverage goes beyond the mechanics of budget creation, presenting effective analytical approaches to determining if a budget is reasonable based on a variety of ratios, historical trends, capacity planning, staffing levels, and relationships with other parts of the budget model. This valuable budgeting analysis is the difference between a usable budget model and one that has little basis in reality.

All strategies are flexible to accommodate individual businesses and are accompanied with practical advice to assist the controller in determining the appropriate mix of controls needed to ensure that operational results stay within expected boundaries or significant variations are promptly spotted.

The Controller s Guide to Planning and Controlling Operations is a valuable tool for profitability for controllers, CFOs, and budget managers.