The Performance Management SIG recently had a discussion with about 20 members and one of the thoughts was to start a discussion to share members most significant references for Performance Management. The discussion really focused on the value of live interaction, but a good number of people felt that it would be useful to hear other members recommendations on what they read, saw, or experienced that gave their professional knowledge an enthusiastic or significant BOOST.
To start the discussion, I will offer my 5 top Management Accounting/Performance Management Books.
- Profitable Expectations - A Novel - An Accountant Rising to the Challenge, by Doug Hicks. Tells the story of a traditionally trained accountant learning to become a business partner. The "spirit" of IMA's Founder, Major J. Lee Nicholson is featured prominently as the lead character's muse.
- Unleashing the Power of Profitability Analytics by the Profitability Analytics Center of Excellence - A comprehensive and quick read on causal financial information for internal decision support.
- I May Be Wrong, But I Doubt It (How Accounting Information Undermines Profitability) by Doug Hicks. This is a series of short articles on a wide variety of topics. Doug is a great storyteller, and I use this book all the time for it examples and concise explanations of where traditional accounting info and analysis simply fails.
- The Goal - by Eli Goldratt. This is a classic on the failures of traditional cost accounting, but also offers vivid examples of process improvement. It is also done in a novel/story format.
- Two books on Capacity Management. An overlooked topic that is critical to profitability improvement
- Capacity Measurement and Improvement - A Managers Guide to Evaluating and Optimizing Capacity by The CAM-I Capacity Interest Group and Thomas Klammer. This is a short book that outlines the best approach to measuring capacity with many examples. Easy to read.
- Total Capacity Management - Optimizing at the Operational, Tactical, and Strategic Levels by C.J. McNair and Richard Vangermeersch (published by IMA). This is a comprehensive look at all existing methods of Capacity Management. It also contains a concise and very insightful history of cost management/cost accounting in the US.
- I also recommend the IMA SMA - The Conceptual Framework for Managerial Costing which I mostly wrote. While the writing suffers in comparison to the above (fortunately, it is free and short), it is the most direct and comprehensive explanation of causal internal decision information.
What are your most memorable and significant Performance Management and Management Accounting oriented references?
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Larry White CMA,CFM,CSCA
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