Academic journal article The Government Accountants Journal

James L. Peirce: A Collection of His Writings

Academic journal article The Government Accountants Journal

James L. Peirce: A Collection of His Writings

Article excerpt

James L Peirce:

A COLLECTION OF HIS WRITINGS

Edited by E.N. Coffman and

D.L Jensen

The Accounting Hall of Fame

The Ohio State University, 1997

Reviewed By

Robert Bloom, Ph.D.

Professor of Accountancy

Boler School of Business

John Carroll University

Cleveland, OH

James L. Peirce (1907-1994) published articles and presented speeches on the controllership practice, the human aspects of budgeting and the nature of the financial executive. Most of his experience stemmed from a number of high-level accounting and finance positions at A.B. Dick, an office equipment producer in Chicago. He was also active in the Financial Executives Institute.

From 1952-1968, he prepared a number of articles on budgeting and control with particular emphasis on the role of the controller in the entire process of management decisionmaking. Several articles focus on the multifaceted nature of controllership, as set forth in 1949 by the Controller's Institute, now called the Financial Executives Institute:

1. To establish, coordinate and maintain, through authorized management, an integrated plan for the control of operations. Such a plan would provide, to the extent required in the business, cost standards, expense budgets, sales forecasts, profit planning and programs for capital investment and financing, together with the necessary procedures to effectuate the plan.

2. To measure performance against approved operating plans and standards, and to report and interpret the results of operations to all levels of management. This function includes the design, installation and maintenance of accounting and cost systems and records, the determination of accounting policy and the compilation of statistical records as required. …

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