Instructor's Manual Management Control Systems Third Edition Kenneth A. Merchant Wim A. Van der Stede For further instructor material please visit. Management Control Systems: Performance Measurement, Evaluation and Incentives (4th edition). Wim A Van der Stede · Kenneth Merchant · Wim A Van der. Management control systems: performance measurement, by Kenneth A 3rd ed. Harlow, [etc.]: Financial Times/Prentice Hall an imprint of Pearson .
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Management Control Systems PDF eBook. Performance Measurement, Evaluation and Incentives 3rd Edition. Kenneth Merchant, Wim Van der Stede. Feb Author(s) Title Ed. Year Experts Total. 1st rank 2nd rank 3rd rank Points Rank. Merchant and. Van der Stede. Management Control. Systems. Management control systems: performance measurement, evaluation and 3rd ed. Harlow, England ; New York: Financial Times/Prentice Hall, 1 online.
Earnings Management and the Roles of Controllers and CFOs In this session, we will examine some of the important roles that controllers and CFOs play in their organizations, particularly in times of stress. MV, Chapter 14 Prepare for Class: Does Don have the power to force ETI top management to make a correcting accounting entry?
If not, what should he do? If so, should he force the entry to be made, and how large should it be? Are they ethical? Does Don Russell have an obligation greater than that of other employees to try to ensure that his corporation acts ethically? Session 10 Topic: Financial Reporting Problems and Corporate Governance In this class, we will focus on the roles of various parties when financial reporting problems are discovered.
MV, Chapter 15 Prepare for Class: What was the financial reporting problem at Molex? If you were a member of the board, would you agree with their concerns? If Molex changes auditors, would you expect that event to have a significant negative effect on the stock price? If so, why? Session 11 Topic: Industry Application: MV, Chapter 2 Prepare for Class: Why are Houston Fearless 76, Inc.
Evaluate the new incentive plan being contemplated. What modifications would you make to the proposed new plan, if any? How would you address the unresolved issues? Are there any significant impediments to the successful implementation of the new incentive plan? If so, which? Would you make any changes to the system providing bonuses to sales assistants? If so, what?
Management Control Systems 3rd Edition Pdf
If not, is this element of performance worth paying out more money? Session 12 Topic: MV, Chapter 6 Prepare for Class: Evaluate the billing improvement effort and each of the elements of the system that emerged. Comment specifically on the billing scorecard, detention meetings, P-CARs, and any other system elements that you believe are relevant. In considering the scorecard, be sure to address the following questions: What are the scorecard and each of its measures trying to accomplish? Are these the right measures?
Does each measure add unique value? Are the measures weighted appropriately in importance? Are the business unit grades generally consistent across measures? Can any of the measures be distorted or gamed?
Do you have any suggestions to improve the billing process? What other alternatives might have been used to solve the problem? If so, why has it apparently not received much attention from management up until now?
If not, why all the concern now? Session 13 Topic: MV, Chapter 10 Prepare for Class: Haengbok Bancorp Assignment Questions: In your answer, comment specifically on the merits and demerits of the control philosophy and each of the significant individual control system elements, such as the use of mini profit centers and the associated performance measures and incentives.
Does this example illustrate a problem that needs to be fixed? If so, how would you fix it? Are any of the issues in this case or their preferred solutions affected in any way by the fact that the bank and its managers are Korean, rather than, say, American, French, or Chinese? Session 14 Topic: A Hedge Fund In this class, we will discuss issues related to performance evaluation and incentive compensation in a hedge fund. Our primary focus will be on the role of the hedge fund analysts. MV, Chapter 9 Prepare for Class: Assume the role of a Raven portfolio manager who has to allocate a bonus pool to the four analysts working primarily for him.
How would you allocate bonuses to these four analysts? What alternatives did you consider? Why did you make the choices you did? Is there any other information you would like to have had available before making your decisions? Should the proportions of the bonuses allocated vary depending on the size of the bonus pool available?
Evaluate the Raven performance evaluation and incentive compensation system. Should they make these changes? After we discuss this case, I will provide a brief review of the major themes of the course and will hand out the final exam.
It will be a take-home exam that is due in my mailbox, in the lobby of the Accounting building, by 5: You can work on the exam only in the group to which we agree you have been assigned.
Van der Stede w. Our focus will be on the measurement and evaluation of the performances of organizational entities and their managers. In other words, the module is designed to be useful particularly for those who aspire to be managers, management consultants, or specialists in staff functions such as controllers, financial analysts, auditors, and human resource specialists.
The case studies permit the exploration of management control issues in a broad range of settings e. Moreover, the foundational theories for the topics in this module have been introduced in AC An important objective of this module is, therefore, 1 to expand that knowledge through further study and 2 to apply that knowledge to cases.
The case method of instruction, however, requires good advance preparation by the students. For the cases that we discuss in class settings, I expect every student to actively participate in the case analysis and discussion. Although during lectures not every student will have an opportunity to contribute to the discussion, I still expect active participation when I pose questions or solicit input from the students.
Course Materials Merchant, Kenneth A. Referred to as MCS in the schedule below. Some additional materials are distributed separately in the course pack. An essay that is handed in after the case has been discussed in class will not be marked. Assessment Assessment will be based wholly upon a three-hour written examination during the Summer Term covering exam questions from across all four modules of this course.
MCS Chapters Class 1: Have any other factors been more important? What recommendations would you make to Mr. Essay Question for written work: What are potential barriers to adopting the Lincoln approach abroad? Week 2 — Results Accountability Lecture 2: MCS Chapter 7 Class 2: Kranworth Chair Corporation Case Questions for advance preparation: Identify the most important key recurring decisions that must be made effectively for Kranworth Chair Corporation KCC to be successful.
Week 3 — Planning and Budgeting Lecture 3: Van der Stede Recent Developments in Budgeting: An Overview and Research Perspective. Journal of Management Accounting Research 15, Analyze the budgeting process at Citibank and how the budget is used for performance evaluation of managers.
Are managers at Citibank committed to achieving budget targets? If so, are the budget targets too challenging? Is there any evidence of budget gaming? What should Mr. Mehli Mistri do about the budget issue described on the first page of the case study? Class 3: Case Question for advance preparation , or Essay Question for written work: Week 4 — Performance Measurement Lecture 4: Ittner, Christopher D. Class 4: Case Questions for advance preparation 1.
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Evaluate the composition of the compensation package at CSI. What are the advantages and disadvantages of awarding stock options? What are the advantages and disadvantages of awarding bonuses?
Was the relative importance placed on salaries, stock options, and bonus awards reason- able? Evaluate the specific features of the annual bonus plan in and Comment on: The relative proportions of financial vs. The decision to base rewards on company-wide, rather than individual, performance; d.
The amount of subjectivity allowed in determining the bonus awards; e. The calibration target difficulty of the bonus plans.
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What would you expect the CSI measurement and compensation systems to look like at that time? Week 5 — Incentive Systems Lecture 5: Van der Stede Wim A.
Class 5: Case Questions for advance preparation: Honor Code Students are expected to adhere to, and will be bound by, the University and School policies governing academic integrity. Course Objectives This graduate course is designed to broaden and deepen your conceptual and technical understanding of management control systems MCS.
But the emphasis in the course is on financial controls, which dominate in importance at managerial levels in all but the smallest organizations. Business Expert Press. Some additional materials also will be distributed on Blackboard. The focus of most of the classes will be on discussions of cases. For each case assignment, I will provide some Discussion Questions. Grading Quizzes 50 points Project 1 50 points Project 2 50 points Class participation 50 points Final exam points Total points Quizzes and Exams The quizzes and the final exam will test individual not group work.
The quizzes will focus on specific issues in the case being discussed that day in class. The final exam, will be a take-home exam in lieu of an exam during the final exam period.
It will involve a case analysis. No make- up exams will be given see LSOA policy on incompletes. Projects The projects will involve group analyses of cases that are supported by data provided on Excel spreadsheets. The second involves comparative performance evaluations of a large number of bank branches. Some groups will be asked to present their analyses and conclusions in class.
Students can form their own working groups, but I will help if needed. The optimum and maximum group size is four. I will accept groups as small as three. As part of the grading process, I will ask students to grade each of their fellow group members.
I think I can learn more from hearing you share your ideas in a long series of classes than I can from reading what you write in a few short exam sessions. Active class participation encourages students to be well prepared and thus to become active, rather than passive, learners.
This is important because research shows that people in business tend to spend very little time reading and even less time writing reports. Class participation evaluating will be based primarily on the quality of the participation in classroom discussions. Does the class member make points that are especially pertinent to the discussion? The best class contributions are those that reflect not only excellent preparation but also good listening and interpretive and integrative skills.
Is the participant able and willing to interact with others by asking questions, providing supportive comments or challenging constructively what has been said? Participation will be evaluated on the basis of a near-continuous scale, the end points of which can be described as follows: This is not intended to be a time-consuming obligation. First, they help me to get to know you and how you think. Schedule of Classes Session 1 Topic: The Control Function of Management In this first session, we will go over the syllabus and get to know each othe.
Finally, we will discuss a control vignette. MV, Chapters 1, 2, 3, 4 Session 2 Topic: Some controls fail, and others cost more than the benefits they provide. Today we will examine a company that suffered significant problems.
Could they have been prevented? If so, how? MV, Chapter 1 Prepare for Class: Atlanta Home Loan Assignment Questions: Identify the devices controls that Al Fiorini used to control his business both before and after he went back to school.
Classify each control as a result, action, or personnel or cultural type of control.
What went wrong? Did Al use the wrong types of controls? Did he use the right types of controls but fail to design or implement them properly? Or was he just unlucky?
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What should Al Fiorini do now? Evaluating Control System Alternatives Two young and inexperienced MBA graduates download a small aviation company that is in financial trouble. They have to make a number of control-related judgments and possibly implement a new control system quickly. AirTex Aviation Assignment Questions: Did AirTex need a new control system at the time of the takeover? Evaluate the control system that Frank and Ted implemented.
Should anything have been done differently? A short time after Ted and Frank took over AirTex, one of the employees on the fuel line went to Ted and asked if he could grow a beard.
Under the former administration, they had been prohibited. Is this question relevant to a class focused on control systems? MV, Chapter 7 Prepare for Class: Interdependence and the Transfer Pricing Problem Where products or services are provided by one organizational entity to another, difficult cost allocation or transfer pricing problems often follow.
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In this session, we will discuss a representative example. Zumwald AG Assignment Questions: What sourcing decision for the X73 materials is in the best interest of: The Imaging Systems Division? The Heidelberg Division? The Electronic Components Division? Zumwald AG? Fettinger do? Is a transfer price just a cost allocation with a profit margin tacked onto it? Here we will examine a somewhat typical company process and focus particularly on the issue of how challenging annual budget targets should be.
MV, Chapters 8 and 9 Prepare for Class: HCC Industries, Inc. Make the x-axis the months of the year. Make the y-axis the levels in the HCC organization. Who does what when?
Does this record suggest that Mike is an extremely effective manager, a very lucky manager, or a devious, manipulative manager? Extend the measurement horizon Measure changes in value directly Improve the accounting measures Measure a set of value drivers Using financial results controls in the presence of uncontrollable factors Types of uncontrollable factors Controlling for the distorting effects of uncontrollables Other uncontrollable factor issues Corporate governance and boards of directors The Sarbanes-Oxley Act of Boards of directors Controllers and auditors Management control-related ethical issues The importance of good ethical analyses Why do people behave unethically?
Some common management control-related ethical issues Spreading good ethics within an organization The effects of environmental uncertainty, organizational strategy, and multinationality on MCS Environmental uncertainty Organizational strategy Management control in not-for-profit organizations Subscribe to view the full document. Management control systems performance measurement, evaluation and incentives. Management Control Systems. Management Control Systems: Performance Measurement, Evaluation and Incentives.
This is not intended to be a time- consuming obligation. Market measures of performance It will involve a case analysis. I think I can learn more from hearing you share your ideas in a long series of classes than I can from reading what you write in a short exam session.
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