For a long time, nonfinancial managers have viewed the financial and accounting function as a hands-off area, segregating it from day-to-day manufacturing processes and performance goals. But now, as author C.J. McNair points out, it is one of the keys to staying competitive." "World-Class Accounting and Finance explains how the financial function developed its existing focus and what types of changes are being made in leading edge firms today. Most important, the book reveals how financial information systems can be transformed into a value-adding tool that supports continuous improvement, measurement systems, and management decision making." "McNair outlines basic and advanced accounting principles in an easy-to-understand format. She demonstrates how, through financial information systems, financial and nonfinancial managers can develop cost-effective strategies and become more involved in the improvement of day-to-day functions. This unique guide provides a look at strategic, planning, and behavioral aspects of the financial function, and an analysis of how to effectively integrate it with other types of performance measurement systems; methods to successfully balance the traditional reporting and recordkeeping functions of accounting with value-added, customer-driven procedures; a thorough examination of financial numbers and why they are useful for managing overhead, analyzing strategy, evaluating performance, and more; and a comprehensive glossary of financial, accounting, and manufacturing concepts for quick, easy reference." "Financial information systems, like every other organizational function, must be evaluated and aligned with continuous improvement and quality goals. World-Class Accounting and Finance is for all managers who want to understand and maximize their organization's financial information systems to satisfy the needs of internal and external customers, build productivity, and establish a long-term competitive edge."--Jacket.