The typical accountant receives a thorough grounding in accounting standards in school, but then arrives on the job and asks – what do I do now? The unfortunate realization strikes that only a small proportion of the accounting job involves accounting standards. Instead, many other questions arise, such as: How do I create a budget, what is a bottleneck asset, how do I grant credit, how do I accelerate cash collections, which controls should I set up, how do I conduct a throughput analysis, should we outsource work, how do I achieve accurate inventory records, how do I allocate costs, how do I set up a target costing system, how do I set product prices, and where do I place quality review stations to maximize profitability?
Management Accounting Best Practices provides the answers to all of these questions, and over 100 more that show both the aspiring and seasoned accountant how to set up and manage an accounting department.
