guest lecture yves boeltjes de vries
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Guest lecture Yves BoeltjesTRANSCRIPT
Management Accounting
Management AccountingVrije Universiteit AmsterdamFebruary 9, 2015Drs Yves Boeltjes de Vries RA RC / Stefan van Driel
BackgroundYves Boeltjes de Vries:Master Business Economics - University of AmsterdamPostgraduate Accountancy - University of AmsterdamPostgraduate Controller - Vrije Universiteit AmsterdamArthur Andersen & Co AccountantsMexxExaminer VU Postgraduate Accountancy Management AccountingStrategyLong term planningBudgetingAccountingReportingForecastingManagement Accounting (II)Important for:Execution of every functionSteering and controlDetermining realization statusControlling spending available budget Basics Management Accounting are KeyAccountingdebet, credit journal entriesaccrual accountingcapitalizationcash flowBusiness planninglong term strategy basedsensitivity analysis
Basics Management Accounting are Key (II)Budgettingfixed versus variable costsdirect versus indirect costsForecastingFull year estimatingRolling forecastingComparison with budgets Key Performance IndicatorsConsolidated / TopNet salesGPEbit / operating marginEBITDA / Cash flow FrequencyYTD versus FYE
Functional KPIsSales Net sales (customers)Net sales per square meter (shops)GP (customers)GP per square meter (shops)Traffic KPIsGrowth rates (sss %)
Comparison with BudgetsYTD versus FYEWholesale versus retailFunctional KPIs (II)Design
Cost price per styleGP per style% dropped stylesVolume per styleTurnover per styleAchieve
Variance analysis (price/costs/exchange rate)Functional KPIs (III)Property
ROICapexTurnover per m2
Marketing
Campaign costsExposure ratesActual versus budget
Functional KPIs (IV)Sourcing
Cost / GP per styleFreight rates (budget versus actual)Duty ratesTime needed for ProductionTime needed for transport
Warehouse/distribution
Storage ratesHandling ratesOutbound cost rates
Examples of FunctionsSales managerMarketing managerDistribution or warehouse managerSourcing managerProcurementProperty managerIndependent entrepreneurExamples of Functions (II)and obviously also:
CFOFinancial controllerBusiness controllerTax managerTransfer PricingPricing of transactions between two related entitiesImportant for:
maximizing operating performancedocumentation for tax authoritiesfinancial efficienciesperformance incentives
Transfer Pricing (II)Criteria Transfer Pricing Systems:
Provide the right incentives to enhance strategy congruent decisionsReflect responsibility structureFacilitate fair and transparent performance measurementEnhance efficiency of administrative processes
Flowcharts Mexx supply chain and TPSintercompany structure before 199717Mexx Europro-ductionMexx BoutiquesSupp-liers: Far East Turkey EuropeMexx Far EastMexx EuropeMexx GermanyMexx InternationalMexx RetailMexx BelgiumWholesaleCustomersRetailCustomersWholesaleCustomersRetailCustomersMexx FranceMexx BelgiumMexx ModehandelsMexx HollandGoodsSERVICESGOODSGOODSGOODSGOODSGOODSGOODSGOODSGOODSGOODSSERVICESSERVICESGOODSGoods18intercompany structure after 1997Mexx Retail entitiesMexx Sourcing AgentsMexx Sales AgentsMexx Far EastMexx EuroproductionMexx NetherlandsMexx FranceMexx BelgiumMexx ScandinaviaXxtra KinderkledingBoutiquesBelgiumMexx LtdScandinaviaCentral CompanyWholesale CustomersThird Party SuppliersGoods at landed costGoods at landed costGoodsGoodsConsumersMexx FO entities Mexx Germany Holding Mexx Ltd. Mexx Boutiques Mexx Austria GmbH Mexx Belgium NV
Goods atlanded costGoods
Mexx Supply chain# 1 Image fee# 2 Design fee# 3 HQ fee# 4 LRD remuneration