The Effective Controller Provides Advice on Using Accounting Concepts and Practices to Guide Long-Term Business Goals

The Effective Controller Provides Advice on Using Accounting Concepts and Practices to Guide Long-Term Business Goals

The corporate controller’s role is changing, and this book gives you the insider knowledge and tools necessary to help propel your company’s accounting functions into the 21st century, and beyond.

BANGKOK, Thailand, 8 January 2009 – The recent economic turmoil on Wall Street and around the world demonstrates how essential sound financial management is for a healthy business. “The Effective Controller in the 21st Century” (http://www.the-effective-controller.com) is a new book that offers organizations anywhere in the world a model for meeting economic challenges in the present and the future.

In The Effective Controller in the 21st Century: Accounting Strategies for Business Management author Yanyong Thammatucharee presents a hands-on manual for corporate controllers that guides them through a methodology designed to maximize the controller function in today’s competitive global environment. Utilizing his original concept of ControllerFOCUS™, Yanyong Thammatucharee brings an insider’s perspective to the challenges facing today’s businesses. As many multinational companies invest in Asia, they will need to establish strong accounting teams that can support performance targets. Controllers will have to leave behind old ways of providing accounting services and try more adaptive and powerful approaches to drive businesses forward. The Effective Controller in the 21st Century provides the knowledge and methodology controllers can use to learn and implement these new approaches.

The Effective Controller in the 21st Century: Accounting Strategies for Business Management presents a unique, unvarnished, and thoroughly original viewpoint on the crucial role played by the corporate controller in today’s fast-moving business environment. This is not a textbook, but rather a hands-on, practical manual for accounting management personnel. Today’s businesses are faced with vibrant and ever-changing factors that can affect a company’s bottom-line. Corporate controllers, managers, and accounting staff must be able to quickly adapt to changing conditions and new challenges. This means everyone needs to understand new ways of doing business. Building on sound fundamentals, author Thammatucharee presents a perspective on the controller function that is anything but business as usual. Written in plain English and clearly organized, The Effective Controller in the 21st Century is a must read for any corporate accountant, controller, or manager.

Written with practicality in mind, The Effective Controller in the 21st Century is an essential resource for any business looking to grow in the decades ahead.

“The Effective Controller” offers a new vision of the role of accounting professionals, particularly controllers, and provides practical guidelines based on his more than 20 years of experience in accounting and finance. “This is a book for both accounting professionals and non-accounting people who are either interested in or have some responsibility for their organization’s financial matters,” said Thammatucharee.

“The Effective Controller” covers the various ways in which accounting functions can contribute to success and competitiveness in the marketplace. Thammatucharee advocates moving accountants from the back office to the “front lines” of an organization and presents best practices implemented by widely respected companies. In addition, his book presents a new accounting concept called the ControllerFOCUS index.

“Controllers have to deal with several aspects of a business, and I felt that there should be a model to help them work better,” said Thammatucharee. “That’s where the concept of ControllerFOCUS originated.” The ControllerFOCUS index presents a set of questions that help controllers evaluate five aspects of business: the organization’s future, operations, internal controls, use of resources and supporting systems. By answering the questions, controllers can objectively and efficiently expose any inherent weaknesses in an organization and assess the feasibility of long-term strategies.

Book Review

What are the top three negative situations that will impact your business? What are the top three key opportunities that your business needs to leverage? What response is needed to avoid or maximize each of these potential scenarios? In his new groundbreaking and thoroughly original guide The Effective Controller in the 21st Century: Accounting Strategies for Business Management, author Yanyong Thammatucharee lays out the concrete and indispensable steps controllers, and other accounting staff, can use to answer these questions for maximum advantage to position any company for success.

At the turn of the 21st century we have witnessed the shocking collapse of several global companies. The causes for these are mainly related to accounting fraud resulting from intentionally manipulative acts. Accountants are being challenged to regain the trust of the public and the business community. It is the corporate controller who, as the head of an accounting organization, must provide the leadership and oversight required to steer a company through the narrows of accounting worst practices to deliver ethical and responsible accounting best practices. The Effective Controller in the 21st Century provides the guidance necessary to help controllers navigate these dangerous narrows by answering key questions raised by the challenges facing accounting professionals today, such as: what is the true scope of work of a controller, how can a controller help the company be successful, and how can a controller’s performance be improved? Author Thammatucharee offers insider knowledge to understand mission critical accounting functions, while offering ideas about how a controller can effectively implement total accounting department performance improvements.

Written in plain English and impeccably researched and organized, The Effective Controller in the 21st Century is a book that is more than a business primer on best practices. It is a practical and essential manual for business success in the new millennium.

The Effective Controller in the 21st Century: Accounting Strategies for Business Management by Yanyong Thammatucharee details a new and actionable strategic methodology that will empower any controller responsible for the financial veracity and health of their company. At the turn of the 21st century, we have seen the shocking collapse of several global companies. The causes are mainly related to accounting fraud resulting from intentionally manipulative acts such as wrong bookings, misstatements, or misleading disclosures. Such cases indicate an inevitable need for radical change in the roles of accountants, especially in safeguarding the company’s future through corporate governance endeavors. Accountants are being challenged to regain the trust of the public and the business community. It’s time for accountants to walk out of the back offices and proactively work with their colleagues on the front line of business integrity. The head of an accounting organization—the “controller”— is both financial leader and business driver for an organization. As the global business environment changes, so do the requirements for sound corporate governance and responsible accountancy. Today’s controllers must rise above the expediencies of the past and embrace more strategic methods of fiscal management if businesses are to move into the future successfully with financial legitimacy and the trust of consumers. Written with accountants, managers, and executives in mind, The Effective Controller in the 21st Century is an indispensable resource for anyone concerned with the financial wellbeing of their company. If you only read one business book this year, make it this one.

Accounting your way to Business Success!!!

In this groundbreaking book, Yanyong introduces long-term based management strategies to help businesses to achieve long lasting successes from an accounting perspective. The ControllerFOCUS model is used to explain the insights of a total company’s intensified management capability. This performance driven tool involves everyone from every function within an organisation. Several real-life examples and practical suggestions are included throughout this book.

Neatly organised, condensed, and packed full of useful tips, Yanyong Thammatucharee’s The Effective Controller challenges the stigmas of monotony and tediousness attached to the accounting world. We are thrown into a world of strategy, crisis control and organization, where it is hard to keep up. Thammatucharee offers a solution, the ControllerFOCUS model, a line of attack that was created out of twenty years of accounting experience, to assist Controllers in every aspect of their work.

The ControllerFOCUS model highlights five key strategies that aim to increase the effectiveness of the Controller, improve the successes of the company, ensuring its survival in an ever changing world. Thammatucharee five strategies include: Looking to Future Prospects, Understanding Business Operations, Ensuring the Control Effectiveness, Utilizing the Corporate Resources and System Continuous Improvement.

Thammatucharee displays a real situation into which these five key strategies are put into practice. The author paints an in depth picture of the thoughts and mindset of a Controller that has entered a company on the brink of crisis. Based on his own real life experiences, some sections take their form as a diary.

Working in a manufacturing company in Thailand, Thammatucharee must set up a new accounting team, strengthen the internal control system, and improve upon the company’s high operating losses. In The Effective Controller not only does he develop a new exciting concept, but he enables us to see it in working action. We are delivered humble and honest accounts of the problems that Controllers face, but in accordance are given practical and genuine solutions and secrets to success.

The Effective Controller relates to every member of the accounting team, offering useful tips to junior auditors and accountants. Every aspect is discussed, from the importance of team work to the satisfaction of individual goals. Thammatucharee’s wealth of experience will enable the Controllers out there to develop a wealth of their own, as long as they FOCUS their way to success.

The Effective Controller is a clear and concise motivational manual that aims to increase our understanding about the importance of the Controller in the balance of a company performance. Under the guidance of the author, we discover the ControllerFOCUS model, according to which the Controller’s focus should be divided equally between five key concepts: future prospects, operation, control, utilisation and system improvement. What Thammatucharee successfully does is create a ‘Do’s and Don’ts’ of an effective controller and ‘In’s and Out’s’ of the accounting world in unison. The Effective Controller, though assuming that the reader has some basic accounting knowledge, does reinforce a stable foundation of essential principles, preventing any feeling of being left out in the cold. Not only does Thammatucharee provide sound advice to company Controllers but also to every functional body of the accounting department. Offering helpful tips to new graduates on how to get onto the accounting ladder and providing guidance to Controllers on their first day, Thammatucharee displays a keen insight into the accounting world, as well as a genuine interest in helping those that lack his experience.

The Effective Controller is easily followed with examples of how to organise the Chart of Account and Operation Focus Evaluation in an effective and operational way. It also offers a step by step breakdown of the accounting department terms and practices, as well as almost every functional role that you will meet in the accounting. Based on Thammatucharee’s own experiences gathered over 20 years of working in the accounting world, holding various accounting positions from Plant Controller to Account Manager, it is definitely undeniable that wisdom and know-how breathe through every page of this book. This humble and knowledgeable manual highlights the importance of an effective internal control system for the survival of a company. When new business rules are given birth it is vital for a company to create and follow new business processes. In this sense, The Effective Controller proves to be a true guide for the 21st century.

Author Bio

Yanyong Thammatucharee is currently senior vice president of accounting and finance for a Thai group of retail companies. He began his career as an auditor and later served as a management consultant with Coopers & Lybrand (C&L) in Thailand.

Thammatucharee worked with Caltex Oil Company as a general ledger supervisor, then with local companies in the textile, semiconductor, and mass transit industries as a chief accounting officer, finance and accounting manager, and financial controller respectively. He also served as a plant controller of Emerson Electric before taking on the job of general finance manager for Panasonic Home Appliances (Thailand) Company. Drawing on more than 20 years of experience in accounting and finance, he has written a number of books on accounting, finance and management issues. Thammatucharee has a master’s degree in accountancy from Thammasat University and is also a certified public accountant.

While Thammatucharee has written nine other books targeting Thai business, “The Effective Controller” is a book for businesses the world over. The book can be purchased through http://www.the-effective-controller.com or at Amazon.com.

Contact:
Yanyong Thammatucharee
9/3 Vista Park Village
Samakhi Road, Pakkred,
Nonthaburi 11120
66-2-5517673
yanyong.thammatucharee@gmail.com

Business, Coaching and Mentoring | January 8th, 2009