No comments about Cost Management: Measuring, Monitoring, and Motivating Performance (Management Accounting).

2 comments about Introduction to Management Accounting-Chapters 1-17 (14th Edition) (Charles T. Horngren Series in Accounting).

1. The book is not very user friendly for our class. Professor even said that he was going to recommend to the school to use another book for the next semster.



2. Used at UC Berkeley accounting course. The book carries a lot of information and is up to date with real world examples.

5 comments about Best Practices in Planning and Performance Management: From Data to Decisions (Wiley Best Practices).

1. An entertaining, insightful book - I found it useful in describing how benchmarking can be used to good effect in practise - in real situations - from someone who has definitely been there and done it. Our organization can certainly use the advice here - big time - and save ourselves a bunch of consultancy fees into the bargain!



2. 
   According to David Axson, traditional planning and management reporting processes "are simply too slow, too detailed, and too disconnected for today's competitive world. Managers are seeking new decision-making processes and tools that enable them to shorten the cycle time to make and implement a decision." This book offers processes and tools to meet that need, what Axson characterizes as "the current "state of the art" practices, based on the benchmarks and client experiences of The Hackett Group of which Axson was a co-founder. As with so many other business books, this one responds to an important question, in fact to two:
   
   What is the best level of performance to be achieved?
   How is it to be accomplished?
   
   Axson organizes his material with three Parts. First he explains why best practices can be "a vehicle for performance improvement," then describes the best practices for "each element of the planning and management reporting process - strategic planning, operational and financial planning, management reporting, and forecasting." Finally, in Part III, he provides insights into "the steps required to design a benchmark, build a best practices process, understand the critical success factors for implementation, and the importance of effective leadership. As I read Axson's book, I felt as if I were examining the contents of a "tool kit," with the book serving as an instructions manual.
   
   Over recent years when retained by corporate clients to help them reduce cycle time while improving first-pass yield, I was frequently aware of the fact that the cycle time and first-pass yield of those initiatives were themselves "too slow, too detailed, and too disconnected for today's competitive world." I mention this because the same may be true of initiatives to identify and then implement best practices. Quite properly, Axson does not suggest which best practices to select but he offers invaluable advice as to how to ensure that their implementation is both effective and (key word) efficient.
   
   He asserts that best practices must effect a measurable improvement of performance, be applicable across a broad spectrum of comparable organizations, be proven in practice, take full advantage of proven technologies, ensure an acceptable level of control and risk management, and get the skills and capabilities of the given organization in proper alignment. It is important to note that (a) his observations and recommendations are anchored in an abundance of real-world experiences and (b) are best viewed within a continuous and integrated process rather than as separate, autonomous initiatives.
   
   On pages 19-20, Axson identifies the basic steps of best practice marketing: identify an opportunity for improvement, determine whether or not it justifies taking action, investigate the reasons for a "shortfall" in performance, identify the best practices which can be applied, and then focus on implementing the change(s) to achieve substantial improvement of the given organization's operations. To me, some of the most valuable material in this book is provided in Chapter 6, "Operational and Financial Planning: Translating Ideas into Action." He guides his reader through the step-by-step process.
   
   In this context, I am reminded of what Peter Drucker once said in an article written for the Harvard Business Review in 1963: "There is surely nothing quite so useless as doing with great efficiency what should not be done at all." Hence the importance of determining, first, which "shortfall" in performance is in greatest need of reduction, if not elimination. However, when making that determination, beware of responding to symptoms rather than to root causes. It is often helpful to use the "fishboning" technique: When discussing with associates a specific question or problem, ask "Why?" and in response to the answer, ask "Why?" again and continue to do so in this manner to each of least five subsequent responses to it. This admittedly an irritating but frequently productive process.
   
   Decision-makers in any organization (regardless of its size or nature) will benefit substantially from the information, insights, and suggestions which Axson provides in this volume. To repeat, he does not suggest which benchmarks to select but does correctly emphasize that benchmarks must meet four primary requirements. They must be objective, quantifiable, credible, and actionable. Implicit, presumably, is another requirement: that a benchmark is relevant. One final point: What is a best practice today can soon become the norm and then the "shortfall" in need of attention. In that event, Axson's book will have provided an excellent preparation to respond to it effectively.



3. What Axson does is define what a best practice is. How it does not apply only to one company or industry. How anyone can adapt an existing one or, in fact, invent a new one for the benefit of other companies and industries.
   
   Plenty of examples what companies do right and wrong and how to find the "low-hanging fruit" of common mistakes and right those mistakes using best practices.



4. Author David Axson provides practical best practices for the company interested in solving one its most crucial bottlenecks in creating value. It provides a clear roadmap for the "integration" of strategic planning, budgeting, forecasting and reporting. In most companies today these are fragmented or disparate processes that lack synchronization.
   This book is an excellent reference guide with clear, concise examples. A real interesting read.



5. This is a very practical book that quickly gets to to best practices. I like the case study of how American Express eliminated budgets.

5 comments about Financial Management: Principles and Applications (10th Edition).

1. This is a very good and updated book. It brings excelent cases and is well designed and easy to read.



2. The Book was not plastic covered and plus there was no cd included in the book



3. The class is hard no matter what school you attend. The book is easy reading and has many great exercise for you to practice to help you understand the text. The exercises had help me tremendously.



4. I'm usually very critical of textbooks, but this one reads extremely well. It is clearly organized and progresses in a logical manner. The subject material is inherently difficult, but the authors do an excellent job explaining both the common-sense and mathematical basis for each topic. I have no formal background in finance or accounting but I'm doing well in a 300-level course with just this book to thank. Anyone who wants to educate themselves about stock/bond values, interpreting balance sheets, etc, would benefit greatly from this book.



5. This is a great finance textbook. I dreaded this course but the moment I started working through the material in the book it all came together. Very well written and excellent explanations of concepts that seem intimidating but once broken down are quite simple and straight-forward. The text actually made learning finance principles enjoyable and very interesting and applicable to daily life and business.

4 comments about Mergers and Acquisitions: A Step-by-Step Legal and Practical Guide.

1. 'Mergers and Acquisitions' has helped me to eliminate mis-conceptions on acquisitions and has provided me with a clear perspective on selling ones business. What I truly liked was the step by step guide through the overall selling process.
   
   I can only recommend ' Mergers and Acquisitions' to anyone involved in M&A activities.
   
   Great book!



2. This is an extremely useful guide for the business practitioner in the sometimes complex arena of mergers and acquisitions. The book provides clear guidance through the process from start to finish. Highly recommended.



3. Edwin L. Miller displays a powerful ability to present the complexity of Mergers and Acquisitions into understandable and straight-forward prose. His education from Harvard Law School and his 35 years of experience as a securities attorney form a powerful base from which to write, and he combines this with a potent talent to clearly convey the information he has gained over the decades into an accurate and digestible format that makes this book superior. This is a must-read for technologists, entrepreneurs, or anyone interested in selling or buying a venture. The book Lifecycle of a Technology Company, by the same author is also solid and informative. Easily five stars.



4. Great book - very informative. Attorney Miller really knows his stuff (as he should since he's been around pretty much since the birth of the venture capitalist industry.)

1 comments about Essentials of Credit, Collections, and Accounts Receivable.

1. I've worked in Credit/Collections for around 15 years. I picked up Mary's book because I was out of the field for many years to stay home with my kids, and now I'm ready to get back into it but wasn't sure if I remember everything. Mary could have been descibing my life as a credit person and all that they go through. I have not forgotten a thing, and could have added to the book myself. In fact I'll be writing my own book about the field enhanced with rapport building skills based on NLP teaching techniqes that will help you get the money in quicker.
   So If you're looking to pursue a career in credit, I can attest that this book covers all the important stuff from dealing with unearned discounts and decductions, to the reality of dealing with less supportive departments in your company. I'm glad I read it.

No comments about MP Auditing and Assurance Services with ACL SW CD.

4 comments about The New CFO Financial Leadership Manual.

1. I found this book very complete and comprehensive as a reference source. It covers the strategic and operational perspectives of the finance function. This is one of the best "CFO" books, together with "CFO Architect" and "CFO Handbook". A little bit overpriced - I would have put it in the US$60 range. Reading this book is like taking an advanced course in preparing yourself for the CFO career. It is very didactic and straightforward. A recommendation for the author: in a future edition, you might consider expanding on the topics of international finance, value based management and corporate restructurings.



2. I browsed the book and found the table of contents to contain many interesting topics. With the "surprise me!" function, I happened upon the Sale and Leaseback discussion, a topic with which I am familiar professionally.
   
   In my view, the author completely failed to grasp sale-leaseback decision analysis. Leasing is another form of debt financing (with some nuances), which can be very expensive and administrative. Rating agencies and competent creditors will simply capitalize your lease payments (at the cost of debt) and treat it as debt. It actually reduces your debt capacity, not increase it as the author suggests (in his excess cash example). Also, having idle excess cash to borrow against is expensive as the cost of debt exceeds the returns you can use on cash. And buying shares (i.e. returning capital) to "prop up" the share price is an irresponsible, simplistic and inaccurate view.
   
   The treatment of the topic surprised me. God help the company with a CFO that would think as the author does.



3. Very well comprehensive, organize, and with a new perspective of the CFO role in the industry. Appendix C is very interesting and very detail in all aspects of Due Diligence. In my opinion this is a great book and I encourage all financial students and practicians to buy this product for professional reference.



4. I find the book well written for its purpose. It does not give you technical advice, you are supposed to know that, but what are the main areas of responsibility of a CFO and how to organise practically your finance department. It is very good for somebody new in the job or for young organisations striving to define processes and responsibilities. It is easy to read and focused on important things that a CFO should manage.

5 comments about The Firm of the Future: A Guide for Accountants, Lawyers, and Other Professional Services.

1. After reading this book, you'll need to place it alongside your desktop dictionary, Thesaruas and Ron's first book "The Professional's Guide to Value Pricing. This is how strong of an impact their message has made on me.

   After reading the first two editions of Ron's book, I didn't think he would be able to improve much on the message of switching to Value Pricing. Boy, was I wrong! He and Paul Dunn have done an amazing job of getting the reader to think differently. As with the radical theme of trashing the timesheet in "The Professional's Guide to Value Pricing", they do a masterful job of convincing you why the old "Revenue Equation" must be replaced with the forward-thinking "Profit Equation". They go on to introduce other new topics not found amongst professional services firms such as developing your Intellectual, Structural and Social Capital, emphasizing effectiveness over efficiency and of course Value Pricing. As is typical of Ron's writing style, and complemented by Paul, their reasoning for making this paradigm shift is well supported and well reasoned.

   I've been using practicing Value Pricing for about 5 1/2 years now and I can tell you that it works. In my own firm, I've slowly begun implementing some of their new concepts but with a new perception. I'm convinced these principles will work for me and they can for you as well.

   After reading this book, you'll definitely want to keep it handy as a useful reference guide!




2. The Firm of The Future coordinates both the theory and practical application of pricing concepts AND business service models in such a complelling manner that Baker & Dunn give Professional services organizations permission to believe that there is light at the end of the tunnel.
   
   While the Firm of The Future is geared to the legal and accounting professions the message and vision is applicable to Advertising agencies, Consulting Organizations, Marketing service firms and professional service providers of all shapes and sizes.
   
   Cost plus pricing is short sighted and intellectually flawed.The intense pressure on increasing billable hours and driving down costs is destroying the creativity and core capabilities of Professional Service companies.Baker&Dunn explain the flaws of cost plus and hourly schemes and identify a road map which outlines how to move a professional services organization and it's customers to a healthier, happier, more productive and more mutually profitable business process
   
   A great read---Inspirational and practical
   
   
   Tom Finneran
   Executive Vice President
   American Association of Advertising Agencies



3. This is a very well-documented guide for any service firm. It's also very well written, very insightful and very well researched. It's real deep, complete and full of advice and wisdom from several great minds. I run a corporate reputation consulting firm in El Salvador and this is the most advice-rich book I've encountered in the last five years. I also recommend "the trusted advisor" by David Maister and specially "Managing the Profesional Service Firm" also by Maister.



4. I first read this book about 2 years ago. I keep it within arm's reach of my desk and refer to it often, still.
   
   I've read one reviewer who stated that this book was the modern almanac of best business practices. I agree completely.
   
   I run my own small law firm. We have implemented many of this book's practices with great success and profitablilty. Primary among them is fixed fee agreements. Yes, we are a law firm that has trashed its time sheets, due in large part to the inspiration and impetus of this book. And, we will never go back.
   
   An earlier reviewer suggested that this book would be more useful for CPA's and not for lawyers. I disagree. Though I'm certain the message of this book is critical for CPA's, I think that any person in law firm leadership must read this book. I think it is particularly suited to small firms and solos who will have the ability to immediately take action in implementing these ideas and making them a reality in their practice.
   
   However, if you are one of my competitors forget everything I said above and do not touch this book. My firm and my family will thank you.



5. Ron Baker is doing for the professional services firms what Columbus and Pythagoras did for the "Earth is Flat" proponents! "Paradigm-shifting" has become so over-used in our culture, but it is not mere hyperbole when describing this book. The work is quite thorough, implementing excerpts, quotes, and philosophies from dozens of well-respected scholars, economists, and management consultants. The work reminds me a lot of Tom Peters' seminal book, "In Search of Excellence" in the way in which the author sprinkles in so many great examples from other successful organizations and industries. In addition, he has many real-world examples (from firms around the world) of professional services firms that have successfully tranformed their practices. I whole-heartedly recommend this book to any professional who is trying to transform a professional services organization or who is wondering if there might be a more effective and profitable way to run a professional services firm.

No comments about Implementing Beyond Budgeting: Unlocking the Performance Potential.