bratislava 17052007veselin perovic phd1 faculty of economic informatics university of economic in...

Bratislava 17052007 Veselin Perovic PhD 1

FACULTY OF ECONOMIC INFORMATICSFACULTY OF ECONOMIC INFORMATICSUNIVERSITY OF ECONOMIC IN BRATISLAVAUNIVERSITY OF ECONOMIC IN BRATISLAVA

1111thth International Scientific Conference International Scientific ConferenceAIESA – building of society based on knowledgeAIESA – building of society based on knowledge

Bratislava 17Bratislava 17thth – 18 – 18thth may 2007 may 2007

WHAT IS CONTROLLINGWHAT IS CONTROLLING??

Veselin PerovicVeselin Perovic, , PhD, BSc. Economy PhD, BSc. Economy

Associate Professor Associate Professor

Faculty of technical sciences Novi SadFaculty of technical sciences Novi Sad

e-mail: vesa@uns.ns.ac.yue-mail: vesa@uns.ns.ac.yu

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CONTROLLINGCONTROLLING

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Defintion of term CONTROLLINGDefintion of term CONTROLLING

To controllTo controll - controll, managing, rules setting and

directing ...

Controlling outlines bussiness policy of an enterprise

It includes the tasks of management planning and

business processes supervision and informations

ControllingControlling

Planning Managing Supervision Informations

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COOPERATION COOPERATION MANAGER MANAGER -- C CONTROLONTROLLERLER

A controller doesn't control.

Who performs the controlling function ?

Manager’s job is to do the controlling,

controller has to ensure that the managers

actually do carry out their controlling.

Controller is an adviser, not an executive.

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THE ROLE OF THE CONTROLLER THE ROLE OF THE CONTROLLER The controller’s task is to create instruments

(strategic and operative), and to show how

these tools are to be used..

PreconditionsPreconditions:

Academic bacground – specialization in Academic bacground – specialization in

controlling, experience i finance, management controlling, experience i finance, management

and knowledge of business operations.and knowledge of business operations.

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A controlling procesA controlling procesA controlling procesA controlling proces

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A controlling procesA controlling proces

MANAGERMANAGER CONTROLLER

Manage business

Responsible

for result

Responsible for Responsible for reporting reporting

Resposinble for transparencyResposinble for transparency

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Current situationCurrent situation

Current situation in our praxis is that in majority of finance departments exists a sector for planning and analysis.

It should be said that analyses tasks are directed to the achieved things. The main task, is almost, to analyze things that where happened in the past.

Organization of modern controlling would be directed to present and future, so a modern financial manager and other managers in an enterprise can bear in mind the goals of profit, realization, financial security and rational enterprise liquidity.

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Connection controlling – planningConnection controlling – planning

Strategic planning the WAY to go

Targets

MeasuresMeasures

How to attain all that?

Operative planning

WW(Growth)(Growth)

AA(Develop.)(Develop.)

YY(Profit)(Profit)

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Controlling = WAY to a profit zoneWhich WAY does the company go?

G = Growth (W)

D = Development (A)

P = Profit (Y)

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BALANCED SCORECARDBALANCED SCORECARDPerformance measurementPerformance measurement

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Kaplan & Norton Kaplan & Norton Tranlsating strategy into actionTranlsating strategy into action

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Managenet by objectivesManagenet by objectives

DevelopmentDevelopment Strategic themesStrategic themes

TargetTargetTargetTarget

ActionActionActionAction

IndicatorIndicatorIndicatorIndicator

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