TABLE OF CONTENTS Management methodologies emerged continuously up until about the year 2000 and then the bubble burst, sending everyone into a hunker-down mode. Enron, WorldCom, Tyco, and other scandals have put us into a governance mentality. While Sarbanes-Oxley is applicable to firms regulated by the Securities and Exchange Commission, there will be a cascade effect that will set a standard for all organizations to measure against. This dose of reality is a good thing because it will start making companies go back to the basic essentials necessary to create value. Lasting value will become the accepted norm in contrast to quarter-to-quarter short-term results that provide an incentive for bad decision making.
By forcing management back to basics, the methodologies and tools I have been explaining then need to be applied in the proper situations and with understanding of how to use them. For me, this book represents the start of an ongoing procession of teaching and training tools that can be used to build on this effort. This chapter brings together all the tools and provides direction and expectations for focusing them on generating profit and creating value.
My objective was to educate business owners, managers at all levels of the organization, accountants, and educators on how to effectively use the best management philosophies and methodologies with a simplified approach to accounting and performance measurement. Accounting gets to the bottom line, so by evolving from simplified accounting back through the management concepts, it will create better understanding.
