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PART FIVE: Management Accounting in Government
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PART FIVE: Management Accounting in Government
by Douglas W. Webster, Gary Cokins
Value-Based Management in Government
Cover
About the Authors
Acknowledgments
Foreword
Preface
HISTORY AND THE AUTHORS' BROADER VIEW OF VBM
SOME THOUGHTS ABOUT “VALUE”
OVERVIEW OF THE BOOK
BALANCED VBM BUT AN UNBALANCED BOOK
CONCLUDING REMARKS
NOTES
PART ONE: Value-Based Management in Government Concepts and Components
CHAPTER ONE: Challenges and Solutions to Address Dissatisfaction of Citizens and Taxpayers
THE US'S ACCOUNTABLE GOVERNMENT INITIATIVE
FROM PERFORMANCE-BASED MANAGEMENT TO VALUE-BASED MANAGEMENT
WHAT DO GOVERNMENTS HOPE TO GAIN FROM VBM?
NOTES
CHAPTER TWO: Generating Value in a World of Uncertainty
DEFINING VALUE
MAXIMIZING VALUE
BUILDING AN ORGANIZATIONAL STRATEGY TO DELIVER VALUE
BUILDING UPON A STRATEGY
SUPPORTING THE DECISION-MAKING PROCESS WITHIN APPROPRIATE LIMITATIONS
PROVIDING REQUIRED DATA FOR APPROPRIATE DECISION-MAKING
MANAGING THE ORGANIZATIONAL CHANGE
GOVERNING THE VALUE-BASED MANAGEMENT FRAMEWORK
PUTTING IT ALL TOGETHER
NOTE
PART TWO: Strategy Management and Governance
CHAPTER THREE: Strategy Setting and Execution
MANAGING CHANGE AS A PREREQUISITE TO MANAGING VALUE
PLAYING TO WHERE THE PUCK IS GOING TO BE
STRATEGIC PLANNING: AN ESSENTIAL ELEMENT OF NAVIGATING CHANGE
LINKING STRATEGIC AND OPERATIONAL PLANNING
THE QUEST TO OPTIMIZE STAKEHOLDER VALUE
NOTES
CHAPTER FOUR: The Strategy Map and Its Balanced Scorecard
LACK OF CONSENSUS
IMPLEMENTING TOO FAST AND SKIPPING KEY STEPS
MEASUREMENTS ARE BOTH SOCIAL AND TECHNICAL
SCORECARD OR REPORT CARD? THE IMPACT OF SENIOR MANAGEMENT'S ATTITUDE
A DIFFERENCE BETWEEN VBM AND THE BALANCED SCORECARD
WHY NOT AN AUTOMOBILE GPS NAVIGATOR FOR AN ORGANIZATION?
FAILURES DUE TO ARROGANCE, IGNORANCE, OR INEXPERIENCE?
HOW ARE BALANCED SCORECARDS AND DASHBOARDS DIFFERENT?
VITAL FEW VERSUS THE TRIVIAL MANY
SCORECARDS AND DASHBOARDS SERVE DIFFERENT PURPOSES
SCORECARDS LINK THE EXECUTIVES' STRATEGY TO OPERATIONS AND TO THE BUDGET
DASHBOARDS MOVE THE SCORECARD'S DIALS
STRATEGY IS MORE THAN PERFORMING BETTER: IT INVOLVES DOING DIFFERENT THINGS
GETTING PAST THE SPEED BUMPS
NOTES
PART THREE: Enterprise Performance Management
CHAPTER FIVE: Exceptional EPM Systems Are an Exception
MANAGEMENTS' DELUSION THAT THEY HAVE EPM METHODS
EPM METHODS ARE LIKE MUSICAL INSTRUMENTS IN AN ORCHESTRA
ENTERPRISE PERFORMANCE MANAGEMENT (EPM) METHODS IN GOVERNMENT
SEAMLESS INTEGRATION OF EPM METHODS AND IT SYSTEMS AS AN ASPIRATION
THE THREE Rs OF VBM
PART FOUR: The Three Rs: Risk, Results, and Resources
CHAPTER SIX: Risk Management
THE EVOLUTION OF RISK MANAGEMENT
TRADITIONAL RISK MANAGEMENT
THE RISK MANAGEMENT PROCESS
THE ROLE OF INTERNAL CONTROLS
THE EVOLUTION OF ENTERPRISE RISK MANAGEMENT
PRINCIPLES AND PRACTICES OF ENTERPRISE RISK MANAGEMENT
RISK AND MORE
CHAPTER SEVEN: Results Management
MANAGING RESULTS WITHIN EPM
FROM PROPOSED RESULTS TO RESULTS ACCOMPLISHED
OPTIMIZING RESULTS IN VALUE-BASED MANAGEMENT
PROCESS IMPROVEMENT: A RESULT SOUGHT OR PART OF RESULTS MANAGEMENT?
LEAN, QUALITY, AND BUSINESS PROCESS MANAGEMENT
CHAPTER EIGHT: Resource and Cost Management
COMPLIANCE WITH COSTING'S “CAUSALITY PRINCIPLE”
PROJECT ACCOUNTING AND WORK ORDERS
ACTIVITY-BASED COST MANAGEMENT (ABC/M)
THE UTILITY AND BENEFITS FROM ABC/M IN GOVERNMENT
POLITICAL PRESSURES TO HOLD DOWN COSTS
AN EXCESSIVE FOCUS ON FUNCTIONS
THE EVOLUTION OF ANNUAL BUDGETS
REMOVING THE BLINDFOLD: OUTPUTS, NOT JUST RESOURCE EXPENSES
BUT OUR DEPARTMENT DOES NOT HAVE OUTPUTS
ABC/M USES (AND SOME PITFALLS)
COST INFORMATION IS EMPOWERING
DEALING WITH THE DARK SIDE: DOWNSIZING PUBLIC SECTOR EMPLOYEES
WHY CHANGE NOW
PART FIVE: Management Accounting in Government
CHAPTER NINE: Understanding ABC/M: A Few Basic Truths
THE NEED FOR MORE QUANTITATIVE AND FACT-BASED FINANCIAL INFORMATION
WHAT IS ABC/M?
WHAT ABC/M IS NOT
LET THE “HOW” AND “WHY” DRIVE THE EFFORT
COMMERCIAL BUSINESSES VERSUS GOVERNMENT ENTITIES
SERVICE-BASED VERSUS PRODUCT-BASED ORGANIZATIONS
CHAPTER TEN: If ABC/M Is the Answer, What Is the Question?
SO, WHAT IS THE BIG PROBLEM?
HOW DO COST DRIVERS WORK?
WHAT ARE COSTS?
HOW DOES ABC/M INTERSECT WITH TRADITIONAL COST ACCOUNTING?
WHY THE INCREASED INTEREST IN ABC/M?
HOW DOES ABC/M YIELD MORE ACCURACY?
WHAT ARE DRIVERS?
WHY IS MINIMIZING THE SIZE OF THE ABC/M SYSTEM IMPORTANT?
CHAPTER ELEVEN: Fundamentals: What Is ABC/M?
EXPANDING THE TWO-STAGE ABC/M CROSS MODEL
IDENTIFICATION AND TREATMENT OF ORGANIZATIONAL SUSTAINING COSTS
THE TWO VIEWS OF COST: COST OBJECT AND PROCESS VIEWS
LEVELING OR DISAGGREGATION BRINGS ABOUT A THREE-DIMENSIONAL ABC CROSS
THE IMPACT OF THE REPEATABILITY OF WORK
CHAPTER TWELVE: Using ABC/M Attributes to Assess Quality and Value-Add
ATTRIBUTES ENERGIZE ABC/M COST DATA
THE ANALYST'S DREAM
A POPULAR ATTRIBUTE
ABC/M REVEALS THE COST OF QUALITY (COQ)
QUANTIFYING THE MAGNITUDE OF THE COSTS OF QUALITY
COST OF QUALITY CLASSIFICATION SCHEME
HOW DO YOU CATEGORIZE DIFFERENT QUALITY COSTS?
DECOMPOSING COQ CATEGORIES
COQ: BOTH GOOD AND POOR QUALITY
GOALS AND USES FOR THE COQ INFORMATION
COQ MEASUREMENT SYSTEM
CHAPTER THIRTEEN: Driver-Based Budgeting and Rolling Financial Forecasts
BUDGETING: USER DISCONTENT AND REBELLION
WHAT'S BROKEN ABOUT BUDGETING?
THE FINANCIAL MANAGEMENT INTEGRATED INFORMATION DELIVERY PORTAL
A RADICAL IDEA: STOP BUDGETING!
PREDICTIVE ACCOUNTING AND BUDGETING WITH MARGINAL EXPENSE ANALYSIS
WHAT IS THE PURPOSE OF MANAGEMENT ACCOUNTING?
DESCRIPTIVE VERSUS PREDICTIVE ACCOUNTING
WHAT TYPES OF DECISIONS ARE MADE WITH MANAGERIAL ACCOUNTING INFORMATION?
ACTIVITY-BASED COST MANAGEMENT AS A FOUNDATION FOR PREDICTIVE ACCOUNTING
MAJOR CLUE: CAPACITY ONLY EXISTS AS A RESOURCE
PREDICTIVE ACCOUNTING INVOLVES MARGINAL EXPENSE CALCULATIONS
PREDICTIVE COSTING IS MODELING
PUT YOUR MONEY WHERE YOUR STRATEGY IS
A SEA CHANGE IN ACCOUNTING AND FINANCE
A PROBLEM WITH BUDGETING
VALUE IS CREATED FROM PROJECTS AND INITIATIVES, NOT THE STRATEGIC OBJECTIVES
DRIVER-BASED RESOURCE CAPACITY AND SPENDING PLANNING
INCLUDING RISK MITIGATION WITH A RISK ASSESSMENT GRID
FOUR TYPES OF BUDGET SPENDING: OPERATIONAL, CAPITAL, STRATEGIC, AND RISK
FROM A STATIC ANNUAL BUDGET TO ROLLING FINANCIAL FORECASTS
MANAGING STRATEGY IS LEARNABLE
NOTES
CHAPTER FOURTEEN: Implementing ABC/M with Rapid Prototyping
AFTER MODEL 0
ABC/M IS PERFECTLY OBVIOUS – AFTER THE FACT!
ITERATIVE ABC/M MODELING
RAPID PROTOTYPING: EIGHTEEN HOLES OF GOLF ON A POLO HORSE
BUILDING THE FIRST ABC/M MODEL 0: TAP DANCE NOW, WALTZ LATER
COST OBJECT PROFILING: A KEY TO GETTING DESIRED RESULTS
TEACH THEM TO FISH, AND THEY CAN FISH ON THEIR OWN
CONSTRUCTING AND POPULATING ABC/M MODEL 0: THE STARTING POINT
ANALYZING MODEL 0 TO GET BUY-IN
SECURING AND PROPAGATING THE LEARNING: A COMMUNICATION PLAN
TIME-PHASING ABC INTO ABM
HOW ABOUT THE FUTURE OF ABC/M?
PART SIX: How Information Technology Impacts VBM
CHAPTER FIFTEEN: Information Technology as an Enabler
INFORMATION TECHNOLOGY TO ACHIEVE RESULTS
DATA MANAGEMENT
BUSINESS INTELLIGENCE AND ANALYTICS
PART SEVEN: Influencing Behavior for VBM
CHAPTER SIXTEEN: Organizational Change Management
CULTURAL RESISTANCE TO CHANGE
GREAT LEADERSHIP VERSUS GOOD MANAGEMENT
HOW TO ACCELERATE THE ADOPTION RATE OF VBM
THE QUEST TO GET BUY-IN FOR IDEAS
WHAT ARE BARRIERS THAT SLOW THE ADOPTION OF NEW IDEAS LIKE VBM?
REMOVAL OF THE BARRIERS
EARLY ADOPTERS AND LAGGARDS
WHERE TO BEGIN?
HOW TO MOVE FORWARD?
MOVING FORWARD
NOTES
PART EIGHT: The Future
CHAPTER SEVENTEEN: The Future of Public Sector VBM
A POTENTIAL FUTURE FOR VBM
MOVING FORWARD
A FINAL THOUGHT
NOTES
Index
End User License Agreement
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CHAPTER EIGHT: Resource and Cost Management
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CHAPTER NINE: Understanding ABC/M: A Few Basic Truths
PART FIVE
Management Accounting in Government
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