Project management accounting: budgeting, tracking, and reporting costs and profitability, 2nd edition

Praise for Project Management Accounting"Let me start with what the Second Edition of Project Management Accounting is not...it is not an inch wide and a mile deep. Instead, it provides multiple lenses to anticipate both intended and unintended consequences through sound principles of Project Management and accounting as well as inquiry focused on both risks to the project and reputational capital. It should be on every decision makers bookshelf to pick up and remind them of their essential foundation when they face a major project or the risk of mental myopia." —Barry van Dyck, PhD, Recruiting and Admissions Director, EMBA, Mendoza College of Business, University of Notre DameAcquire the accounting knowledge and skills to become a top-performing Project Management professionalProject Management accounting involves much more than just understanding how project income and expense impact the general ledger. To truly succeed in today's competitive business environment, project managers must also understand how to budget resources, determine ROI, and track costs and expenses for projects as well as become adept at strategy and executive decision making and portfolio management. With its focus on accounting, Project Management Accounting: Budgeting, Tracking, and Reporting Costs and Profitability, Second Edition is designed to enhance the business skills of project managers at all levels of experience.Now in a fully updated second edition, Project Management Accounting clearly explains step-by-step how project expensing (for both internal projects and outside vendors) should be capitalized or expensed in order to keep the budget on track and improve profitability. The proficient author team of Callahan, Stetz, and Brooks culls their decades of experience to show readers how to achieve the greatest tax/cost savings by helping them determine what portion of the project can be capitalized.This Second Edition of Project Management Accounting includes current case studies and sample checklists to help professionals hit the ground running by immediately applying concepts to their own business scenarios. Here, CFOs, controllers, project managers, and accounting managers will discover how to:Understand risk assessment from an accounting and auditing perspectivMaximize project outcomes by leveraging accounting and financing tools and principlesImprove each project's profitability by understanding its costs and benefitsAnalyze their business's financial information to ch