Management Control Systems

Management Control Systems

Performance Measurement, Evaluation and Incentives

Second Edition

Kenneth A. Merchant and Wim A. Van der Stede

With its unique range of international case studies, real-life examples and comprehensive coverage of the latest management control-related tools and techniques, this second edition of Management Control Systems is the ideal guide to this complex and multidimensional subject.

The authors approach management control from an accounting perspective as they discuss issues of performance measurement and evaluation in detail. They also provide a broad perspective on control systems, with a focus on issues such as planning and budgeting systems, internal controls, corporate culture, corporate governance, and ethics. Their unique treatment of the subject is thorough, logical, and easy-to-read, and is perfect for upper level undergraduates, postgraduates and practising professionals.

If this book were fiction, I would refer to it as a real page-turner.
Eddy Vaassen, Universityof Maastricht

Features

• In-depth analysis of the relationship between management theory and practice, with references to a host of specific decision-making situations.
• Case studies and real-life examples drawn from an international range of firms and companies, including Toyota, Citibank, and Lincoln Electric.
• Coverage of ethical and multinational issues, across a variety of businesses, industries and not-for-profit organizations.
• Assessment of management control-related tools, including Balanced Scorecards and EVA, as well as non-financial measures of performance.
• Discussion of the similarities and differences between management control and internal control, with reference to Sarbanes-Oxley and similar movements worldwide.
• Fresh emphasis on management control systems in relation to corporate governance.

The authors

Kenneth A. Merchant is the Deloitte & Touche LLP Chair of Accountancy at the University of Southern California. He is well-known internationally in the field of management accounting, and is a part-time research professor at the University of Maastricht.

Wim A. Van der Stede is Professor of Management Accounting at the London School of Economics and Political Science. An author and teacher, he brings a European perspective and a wealth of experience to this book.

 

 

 

(Pearson)

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Detailed Contents

 

Preface

 

PART 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

          Notes

          Leos Four-Plex Theatre

          Wongs Pharmacy

          Private Fitness, Inc.

 

PART 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

          Armco, Inc. -- Midwestern Steel Division

          Visionary Design Systems: Are Incentives Enough?

          HoustonFearless 76, Inc.

 

3        Action, Personnel, and Cultural Controls

          Action controls

          Action controls and the control problems

          Prevention versus 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

       ...

(Pearson)