Mangerial Accounting

The main objective of research is setting a proposal framework for performance evaluation system in the application of Just-in-time Production / Purchasing system, with illustration how to connect between short – term objectives and long – term objectives. This research consists of six chapters ,explained in details by using Balanced Scorecard.

Controllers have a new role in their organizations, and strategy is the key. Traditionally their role has been process driven and governed by routines such as month-end and statutory reporting. Financial statements, general ledger, cost accounting, payroll, accounts payable, accounts receivable, budgeting, and tax compliance are typical responsibilities. Yet numerous research studies by IMA® (Institute of Management Accountants) indicate that corporate controllers are doing much more. Their role is expanding and changing in ways that mirror those of the broader finance function.

Research conducted by IMA and its partners has found an ongoing transformation of the finance function into more of a strategic business partner within organizations. Professionals in the finance function are moving from the delivery of data and results to the interpretation of information and contributing to decision-making activities.

A controller taking on a greater leadership role in his or her organization needs to become more of a strategic business partner than in the past. Most controllers are aware of this, of course, but many aren’t exactly sure what this means in practice--or precisely how to make the shift. This article outlines steps controllers can take to advance their role in the organization.

DELIVER INSIGHT INTO THE BUSINESS As more companies embrace digital and data insights to provide competitive advantage, they increasingly see that having current technology and insightful information is critical. [...]while the traditional role of the controller involved transaction processing and financial reporting, this is now changing. IMA's "Enterprise Performance Management: Management Accountants' Perceptions" found that purpose-built enterprise resource planning (ERP) modules are the most common technology (used by 44% of respondents) for supporting financial close and disclosure activities. In "Financial Insight: Challenges and Opportunities," a recent study by IMA and ACCA (Association of Chartered Certified Accountants), having multiple ERP systems was cited as the number-one technological challenge companies face.