Management Accountant Quotes & Sayings

Many of the Abbott disciplines trace back to 1968, when it hired a remarkable financial officer named Bernard H. Semler. Semler did not see his job as a traditional financial controller or accountant. Rather, he set out to invent mechanisms that would drive cultural change. He created a whole new framework of accounting that he called Responsibility Accounting, wherein every item of cost, income, and investment would be clearly identified with a single individual responsible for that item.4 The idea, radical for the 1960s, was to create a system wherein every Abbott manager in every type of job was responsible for his or her return on investment, with the same rigor that an investor holds an entrepreneur responsible. There would be no hiding behind traditional accounting allocations, no slopping funds about to cover up ineffective management, no opportunities for finger-pointing. — James C. Collins

IT - especially with its role so greatly enlarged by the arrival of the Internet - has changed not only how we work and conduct business, but also how we (and our customers) play, how we consume, and how we educate our next generations. And yet the IT phenomenon, so evident in the expenditures of every organization, has not yet achieved management attention equal to other areas, such as finance, marketing, operations, and human resources. In far too many companies, IT remains a black box that business managers rarely try to see inside. When business managers do engage in IT discussions, often they bring little expertise to bear. Few feel apologetic about their IT inadequacies. But the time is coming when "I'm not an IT person" will be no more adequate as a manager's defense in the aftermath of a major corporate problem than Jeff Skilling's now notorious "I'm not an accountant" - that CEOs effort to explain his failure to foresee or prevent Enron's spectacular implosion. — Robert D. Austin