Download Financial Accounting and Management Control: The Tensions by Fredrik Nilsson, Anna-Karin Stockenstrand PDF

By Fredrik Nilsson, Anna-Karin Stockenstrand

This ebook is ready monetary accounting and administration regulate and the way those info platforms are comparable in addition to how their goals clash. on the so much basic point, the target of economic accounting is to supply vendors and funders with related info on a company's price construction. the purpose of administration keep watch over, nevertheless, is to provide the board, senior executives and staff specified details for approach formula and implementation. One often-mentioned unfavorable influence is the danger of economic accounting affecting administration regulate layout and use, making it much less suitable for decision-making on the corporation point. The booklet offers an research of the complicated courting among monetary accounting and administration keep watch over. The research is predicated on theoretical reasoning in addition to a number of examples of the way monetary accounting criteria have an effect on not just the once a year file but additionally the keep an eye on approach. an engaging, and maybe unforeseen end is that administration keep an eye on turns out to impact monetary accounting virtually up to monetary accounting impacts administration regulate. those advanced relationships, which may effect the layout and use of either monetary accounting and administration keep watch over, are mentioned intimately during this book.

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Additional info for Financial Accounting and Management Control: The Tensions and Conflicts Between Uniformity and Uniqueness

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111). In a traditional system the cost is defined as the expenses that can be found in the ledger of the financial accounting system (a detailed presentation of ABC is provided in Cooper and Kaplan 1997). The authors clearly point out the difficulty of integrating these two internal control systems in the following quote (Cooper and Kaplan 1998, p. 110): Managers must realize that operational-control and activity-based cost systems have fundamentally different purposes and are separate for good reasons.

There are also principal-agent relationships within the company, for example between corporate management and divisional/business unit managers as well as between managers and employees (cf. Eierle and Schultze 2013). For reasons of simplification we do not consider employees agents in the following discussion. In order to be able to hold the board and senior executives accountable for their decisions and actions, the owners and funders will strive to reduce the information asymmetries that exist between principal and agent.

It is also important to be aware of the different accounting regimes that existed in Europe during this period and how they had developed to what they were at that point in time. Such an overview, introduced in the first chapter, can be found in Ika¨heimo and Taipaleenma¨ki (2010). They discuss five different eras (craftwork –1820s, mechanization 1830s–1920s, mature mechanization 1930s–1940s, late mechanization 1950s–1980s and finally digitalization 1990s–) (please note that the timeline presented is for the US, which deviates from the timelines for Germany and Finland).

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