This best-selling and market-leading text gives students a thorough understanding of the core concepts and key topics of management control and related performance measurement and incentive systems, processes, and critical trade-offs in their design and use, employing a wide range of international case studies and real life examples.

• PART I: The Control function of Management
• 1   Management and Control
• PART II: Management Control alternatives and their effects
• 2   Results Controls
• 3   Action, Personnel, and Cultural Controls
• 4   Control System Tightness
• 5   Control System Costs
•  6   Designing and Evaluating Management Control Systems
• PART III: Financial Results Control Systems
• 7   Financial Responsibility Centers
• 8   Planning and Budgeting
• 9   Incentive Systems
• PART IV: Performance measurement issues and their effects
• 10    Financial Performance Measures and their Effects
• 11    Combinations of Measures and Other Remedies to the Myopia Problem
• 12    Using Financial Results Control in the Presence of Uncontrollable Factors  
• PART V: Corporate Governance, Important Control-related roles and Ethics
• 13    Corporate Governance and Boards of Directors
• 14    Controllers and Auditors
• 15    Management Control-Related Ethical Issues and Analyses  
• PART VI: Significant Situational influences on management control systems
• 16    Management Control in Non-Profit Organizations
• Index

Management Control Systems

Performance Measurement, Evaluation and Incentives

Fourth Edition

Kenneth A. Merchant and Wim A. Van der Stede

“If this book were fiction, I would refer to it as a real page-turner” Eddy Vaassen, Tilburg University

“The book provides a comprehensive view of management control systems and is written in a very engaging style” Paul Summers, Summit Accountancy Training / University of Liverpool

This best-selling and market-leading text gives students a thorough understanding of the core concepts and key topics of management control and related performance measurement and incentive systems, processes, and critical trade-offs in their design and use, employing a wide range of international case studies and real life examples.

With its unique blend of theory and practice, concepts and applications, Management Control Systems is the ideal guide to this more than ever relevant, complex and fascinating subject.

New to this edition:

·    Updated text, examples, references and cases throughout

·    Various new cases, including ones on project management, ethics, and sustainability

·    New engaging design

Resources for Lecturers:

• Updated PowerPoint slides to aid in your lectures
• Comprehensive Instructor’s Manual, including case study debriefs and a case matrix that helps to bring real world examples to your students
• Available for download at www.pearsoned.co.uk/merchant

Kenneth A. Merchant is the Deloitte & Touche LLP Chair of Accountancy at the University of Southern California. He is well-known internationally in the field of management accounting.

Wim A. Van der Stede is the CIMA Professor of Accounting and Financial Management at the London School of Economics and Political Science. An author and teacher, he brings a European perspective and a wealth of experience to this book.

Management Control Systems includes a host of built in features and learning tools to assist your teach and motivate your students’ learning journeys.

• Over 70 Cases included throughout the text provide examples of how the theory learnt in the chapter can be applied in real-life. Some of these cases are suitable for examination purposes.
• A clear, structured approach maintained across chapters and sections ensures logical progression in student understanding and avoids confusion at later stages when more challenging topics are introduced.
• A suite of resources to accompany the text is available here. Resources include a solutions manual for instructors and additional PowerPoint slides.

Management Control Systems, 4^th edition, has undergone significant alterations to provide students with a strong text.

• A new engaging design makes learning less of a chore, helping students to remain motivated and engaged instead of being faced with a dense block of facts and information to memorise.
• Various new cases, including ones on project management, ethics, and sustainability, keep the text fresh and provide additional perspectives on the subject from a real-world point-of-view.
• Updated text, examples, cases and references throughout ensure the text remains as relevant to students now as the first edition was, keeping everything that was great about the previous editions but making improvements where possible.