Famous Quotes & Sayings

Quotes & Sayings About Management Accounting

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Top Management Accounting Quotes

Management Accounting Quotes By James C. Collins

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

Management Accounting Quotes By Henry Mintzberg

The great myth is the manager as orchestra conductor. It's this idea of standing on a pedestal and you wave your baton and accounting comes in, and you wave it somewhere else and marketing chimes in with accounting, and they all sound very glorious. But management is more like orchestra conducting during rehearsals, when everything is going wrong. — Henry Mintzberg

Management Accounting Quotes By Donald J. Trump

1. Project What is the project? Why is it unique? Why is the business needed? Why will customers love your product? 2. Partners Who are you? Who are the partners? What are your educational backgrounds? How much experience do you all have? How are you and your partners qualified to make the project a success? 3. Financing What is the total cost of the project? How much debt and how much equity is there? Are partners investing their own money? What is the investor's return and reward for their risk? What are the tax consequences? Who is your CFO or accounting firm? Who is responsible for investor communications? What is the investor's exit? 4. Management Who is running your company? What is their experience? What is their track record? Have they ever failed? How does their experience relate to your industry? Do you believe this is the strongest management team you can assemble? Can you pitch them with confidence? — Donald J. Trump

Management Accounting Quotes By Colby Mitchell Chester

The American business man cannot consider his work done when he views the income balance in black at the end of an accounting period. It is necessary for him to trace the social incidence of the figures that appear in his statement and prove to the general public that his management has not only been profitable in the accounting sense but salutary in terms of popular benefits. — Colby Mitchell Chester

Management Accounting Quotes By Peter Drucker

Teaching 23-year-olds in an MBA programme strikes me as largely a waste of time. They lack the background of experience. You can teach them skills - accounting and what have you - but you can't teach them management. — Peter Drucker

Management Accounting Quotes By John Mackey

My dad for a long time was an accounting professor at Rice University. And then he went out on his own, and he got hired by a client. He ended up being CEO of a hospital management company before he retired, called Lifemark. — John Mackey

Management Accounting Quotes By Gilbert F. White

The good news about fresh water is that, even after accounting for the larger volume of water that is unavailable to people from the hydrologic cycle, there is enough on a global scale to support current and anticipated populations on a sustainable basis ... Three essential goals are dependable and safe supplies for people, protection and management of the environmental systems through which water moves, and efficient water use. Meeting these goals will require that fresh water not continue to be treated as a free good or as the principal means for disposing of human and industrial wastes. — Gilbert F. White

Management Accounting Quotes By Warren Buffett

The reaction of weak management to weak operations is often weak accounting. — Warren Buffett

Management Accounting Quotes By Howard M. Schilit

that is subject to accelerated revenue recognition as a result of aggressive management estimates is one that has "multiple deliverables." In this type of arrangement, the seller provides several distinct, but intermingled deliverables over an extended period of time. For example, wireless telecom companies often package mobile phone service and a cell phone handset together in the same contract. Sometimes the handset is sold to the customer at a greatly discounted price (or even given away for free), as long as the customer also agrees to a two-year service contract. Accounting rules require the seller to allocate a portion of the total contract value to the handset (to be recognized as revenue up front) and a portion to the service contract (to be recognized over the life of the contract). The seller uses assumptions in estimating how to split the revenue between the two deliverables. By changing these assumptions or — Howard M. Schilit

Management Accounting Quotes By Liz Miller

When there is some fear about accounting and growth and the economy, food stocks are a decent place to be, ... This company has been through a bit of a restructuring the last couple of years. Management is doing a great job. The company is improving and people are buying chocolate. So, what a great week to buy it. — Liz Miller