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MANAGEMENT CONTROL AND PERFORMANCE MEASURES Bill Horst, CPA, CMA Jennifer Kinzel CPA, CMA
What Type of Clients do We Service? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Who Are We? ,[object Object],Compliance Experts Professional Specialists Fraud Examinations Business Valuations Cost Segregation Studies Temporary CFO Assignments
Who Are We? Standard Costing Certified  Management Accountant (CMA)
Standard Costing:  The Vision “ To have a system that accurately and  simply reflects  the activity cost of the  product”
What is Involved? Determining the Correct Cost Driver(s) Frequency of Revisions of Cost Model Budget Preparation Developing Accurate Standards
What is Involved? Monitoring Additional Applications/ Uses Financial Statement Presentation
What Can William Vaughan Company Do? ,[object Object]
Budget Preparation ,[object Object]
Developing Accurate Standards ,[object Object]
Determining the Correct Cost Driver ,[object Object]
Frequency of Revisions to the Cost Model ,[object Object]
Financial Statement Presentation ,[object Object]
Monitoring ,[object Object]
 
What is Wrong with the Current Method? ,[object Object]
What is Wrong with the Current Method? ,[object Object],2  pages to calculate the rates ABC Model Simplified Model 52 pages to  calculate the rates NO Variance Analysis 8  pages of Variance Analysis
What is Wrong with the Current Method? ,[object Object],ABC Model Simplified Model ABC has multifaceted cost drivers and centers . ,[object Object],[object Object]
What is Wrong with the Current Method? ,[object Object],ABC Model Simplified Model No reconciliation to general ledger Lack of understanding and complexity allowed formulas to be incorrect Contains check totals reconciling amounts to general ledger by month Built on Pivot tables which inherently are error - free
What is Wrong with the Current Method? ,[object Object],ABC Model Simplified Model Did not provide Complete variance analysis for overhead, labor and materials
[object Object],What is Wrong With the Current Method?
What  IS  a Simplified Model? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Who  was involved? Controller VP of Finance VP of Sales VP of Production Plant Manager VP of Engineering Members of IT- Internal and External Outside CPA’s
Who  was involved? This was a  TEAM  effort. Each department’s decision is impacted by all of the others and each team member should be able to identify issues that might affect the next step in the process. Teamwork helps us to  IDENTIFY  and  SOLVE  any challenges that may arise during the process.
Indicators That it is More Than a System Issue ,[object Object],[object Object],[object Object]
What Could the Problem Be? ,[object Object],[object Object],[object Object]
What Could the Problem Be? ,[object Object]
What Could the Problem Be? ,[object Object]
What Could the Problem Be? ,[object Object],Analyze monthly variances for reconciliation Act upon findings!
What Could the Problem Be? ,[object Object]
Results ,[object Object],[object Object],[object Object]
Additional Applications/ Uses ,[object Object],[object Object]
Additional Applications / Uses ,[object Object],[object Object],[object Object]
[object Object]

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Standard Cost Support

  • 1. MANAGEMENT CONTROL AND PERFORMANCE MEASURES Bill Horst, CPA, CMA Jennifer Kinzel CPA, CMA
  • 2.
  • 3.
  • 4. Who Are We? Standard Costing Certified Management Accountant (CMA)
  • 5. Standard Costing: The Vision “ To have a system that accurately and simply reflects the activity cost of the product”
  • 6. What is Involved? Determining the Correct Cost Driver(s) Frequency of Revisions of Cost Model Budget Preparation Developing Accurate Standards
  • 7. What is Involved? Monitoring Additional Applications/ Uses Financial Statement Presentation
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  • 23. Who was involved? Controller VP of Finance VP of Sales VP of Production Plant Manager VP of Engineering Members of IT- Internal and External Outside CPA’s
  • 24. Who was involved? This was a TEAM effort. Each department’s decision is impacted by all of the others and each team member should be able to identify issues that might affect the next step in the process. Teamwork helps us to IDENTIFY and SOLVE any challenges that may arise during the process.
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Hinweis der Redaktion

  1. West to Williams, east to Sandusky, south to Putnam, clients in FL and West Coast
  2. Greg and Aaron are Certified Fraud Examiners, (CFE) Greg is (FCPA) Forensic Certified Public Accountant, (CFF) Certified in Financial Forensics. Jack and Anne are Certified Valuation Analysts (CVA) Bill, Jennifer, and Tara are Certified Management Accountants (CMA)