Studia Ekonomiczne. Zeszyty Naukowe Uniwersytetu Ekonomicznego w Katowicach ISSN 2083-8611 Nr 274 · 2016 Zarządzanie 5
Andrijana Rogošić University of Split Faculty of Economics Department of Accounting andrijana.rogosic@efst.hr
ACCOUNTING INFORMATION AND CONTROLLING IN THE BANKING INDUSTRY
Summary: Controlling is a management support that provides relevant information for decision-making. The article examines the implementation of controlling in the commer- cial banks that operate in Bosnia & Herzegovina, Croatia, and Montenegro. The aim of the paper is to determine the level of development of controlling as one of fundamental management function. The study is focused on the relationship between accounting and controlling. The role of accounting as an important source of business information is explored in this context. The empirical results show that the cooperation between acco- unting and controlling leads to the provision of wider scope of accounting information for higher controlling performance.
Keywords: cost accounting, controlling, banks.
Introduction
The literature differ German and Anglo-Saxon types of controlling. Al- though within each type there is no consensus on controlling definition, one thing is clear – the main purpose of controlling. The controlling has undergone through several historical changes in its tasks, but it was founded as a support to (mostly senior) management.
The aim of the article is to determine the level of development of control- ling as one of fundamental management functions.
The first stage is characterized by fulfilling duties mostly in domain of cost accounting with the orientation on the past, while the last controlling stage is strategically oriented using information provided by strategic management ac- counting. In this sense, the interrelationship between accounting and controlling
Anamarija Budimilić University of Split
Andrijana Rogošić, Anamarija Budimilić 78
in the banking industry was investigated in this article. The empirical research is based on the survey addressed to controllers in 57 commercial banks that operate in Bosnia & Herzegovina, Croatia, and Montenegro.
The article is structured as follows. Next section explains the link between cost accounting, management accounting, and controlling with the historical overview. The third section is focused on three phases of controlling develop- ment, known as: recorder, navigator, and innovator. Research methodology is described in the fourth section, where research questions are defined and empiri- cal results presented. Concluding remarks are stressed out in the final section.
1. Cost accounting, management accounting and controlling – interrelationship
Cost accounting is often regarded as specialized branch of accounting, which involves classification, accumulation, assignment, and control of costs.
Accounting historians link the origins of cost accounting to the rise of manufac- turing firms and, in a more detailed way, to efficiency control, pricing and deci- sion-making problems faced in those organizations [Antonelli, Cerbioni and Parbonetti, 2002, p. 461]. Zambon and Zan [2007] found out that the emergence of accounting as a control instrument happened in Venetian Arsenal in the 16th century. Kaplan [1984, p. 391] argues that cost and management control infor- mation were of great importance supporting growth in large U.S. companies dur- ing the 1850-1925 period.
Management accounting is concerned with providing both financial and non-financial information that will help decision-makers to make good deci- sions. An understanding of accounting therefore requires an understanding of the decision-making process and an awareness of the users of accounting informa- tion [Drury, 2008, p. 5]. The information provided by management accounting is helpful in making policies and strategies, budgeting, as well as forecasting future plans, making comparisons and evaluating performance of the management.
The management accounting provides wider scope of relevant information than cost accounting, because cost accounting is more focused on quantitative data based on financial accounting. Nowadays, cost accounting is often per- ceived as part of management accounting. From historical perspective, manage- ment accounting emerged from cost accounting. Waweru [2010] identifies four stages of management accounting evolution. In the first stage, management ac- counting is seen as a technical activity necessary for the pursuit of the organiza- tional objectives, while in the second stage it is seen as a management activity per-
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Andrijana Rogošić, Anamarija Budimilić 80
ally happen [Špac and Mošnja-Škare, 2009, p. 64]. Osmanagić-Bedenik and Lalovac [2007, p. 85] pointed out that coordination and integration of individual management subsystems is how controlling realizes its purpose.
The evolution of controlling can be summarized through following six con- cepts [Roman, Roman and Meier, 2014, p. 49]:
− controlling as an administrative record tracking (the 1980s);
− controlling as an administrative information system (end of the 1980s);
− controlling as planning and control (beginning of the 1990s);
− controlling as coordination activity (the 1990s);
− controlling as business administration (end of the 1990s);
− controlling as a system for coordinating decision-making process (the 2000s).
The above mentioned evolution of controlling indicates the interrelationship between cost and management accounting, but even more it is witnessed by tasks performed in the controlling practice. A catalogue of controlling tasks has been established based on surveys and their findings [Osmanagić-Bedenik and Lalovac, 2007, pp. 86-87]:
− professional help in establishing and enforcing planning, control, and briefing,
− cooperation in defining company and department goals,
− coordination of sub-targets and related plans with global aims and plans,
− business reporting and interpretations,
− professional help in establishing and implementing budgets,
− professional help in operative planning,
− professional help in cost accounting and calculating,
− professional help in implementing and organizing ADP (automatic data proc- essing),
− business consulting for companies and departments,
− support in strategic planning, control, briefing and reporting,
− coordination of projects,
− special studies (problem identification and problem-solving).
It can be stated that controllers have a wide range of tasks and their position requires knowledge in the field of accounting as well as management.
2. Controlling phases and practices
In the German speaking literature the controlling development in the com- panies are often described at three levels: registrar (recorder), navigator and in- novator [Mayer, 1993]. Although there phases are historically defined, this clas- sification can be used when evaluating the level of development of the controlling function in a company.
Accounting information and controlling in the banking industry 81
The first stage of controlling characterizes the function of documentation, control, and rationalization of operations. Controlling at this initial phase is ori- ented toward the past requiring order and preciseness. It was most often per- formed by the head of accounting, whose position then carried the name of reg- istrator [Simić, 2010, p. 312].
When controlling takes more important role in a company, recording be- comes the job for the accountants, but controllers use accounting information for counselling purposes, controlling becomes navigator. This happens when the business environment is not so dynamic and the task of controllers is focused on setting the short-term direction and being oriented toward immediate activities.
When dynamic changes in the business environment demands for quicker adjustments, while, at the same time, company growth reduces the overall visi- bility of business processes and simultaneously the saturation of demand and in- creased supply forced companies to orient themselves outward, toward the com- petition in their branch and competition for market share (fighting to fulfil consumer desires, tastes, needs, etc.) the new phase of development emerges – innovator. Controlling in this stage is actively participating in the problem- solving process and being oriented toward strategizing for the future [Simić, 2010, p. 313]. The request for the control of the application of strategic goals led to development of sophisticated management control systems often defined as techniques and mechanisms which companies employ to pursue objectives, ac- complish goals and successfully pursue strategies. The comprehensive study car- ried out on Croatian companies [Dropulić and Rogošić, 2014] showed that ob- served companies use more formalized management control systems. This finding leads to conclusion that accounting information is relevant for manage- ment control.
In the navigator phase, the controller often occupies the position of manager for planning and analysis. Subsequently, the controller’s tasks shifted from op- erational duties to strategic planning and planning company policy and goals in the phase of innovator. The last phase emerges when company is constantly ex- posed to problems and events, and the dynamics and complexity of changes are quite high, while information from the environment was quite uncertain and forecasts less and less useful [Simić, 2010, p. 313]. Through their development stages from “recorder”, through “navigator” to the “innovator”, controllers are today the ones that need to optimize the operations for the benefit of stake- holders [Vitezić and Vitezić, 2015, p. 178]. Stakeholder orientation can be con- sidered as the next developmental stage of controlling that should be in line with the concept of corporate social responsibility.
Andrijana Rogošić, Anamarija Budimilić 82
3. Research questions, methodology and results 3.1. Research questions
Previous research [Osmanagić-Bedenik, 2006] revealed that there is col- laboration between accounting and controlling in Croatian companies and pre- sented various accounting methods and techniques that are used for controlling purposes. This study is focused on controlling practices in the banking industry.
The aim of this empirical research is to determine:
− the controlling function deployment,
− the position of the controlling,
− the development stage of the controlling
− the level of cooperation between controlling and accounting, and
− the effect of controlling on the accounting practices.
The research questions are structured as follows:
1. Do the banks have developed controlling function that is strategically ori- ented (“innovator”)?
2. Is there an interrelationship between accounting and controlling and how it is reflected in the practice?
3.2. Research methodology
The empirical research was conducted in the year 2014 and included the banks that perform in Bosnia & Herzegovina, Croatia, and Montenegro. The survey was designed in order to have an insight in controlling practices of the banks. The questionnaire was sent via e-mail to all commercial banks (29 banks that operate in Croatia, 17 banks in Bosnia & Herzegovina, and 11 banks in Montenegro). It was addressed to the controllers. After several repeated e-mails, the response rate was 35% (meaning that 20 banks have answered the questions).
3.3. Empirical research results
The most respondents were from small banks (50%) and from medium- -sized banks were 25% as much as from large banks. Most of the observed banks have organized controlling department (80% of the banks).
In order to determine the controlling department positioning, respondents were asked to whom controlling manager is answerable. Most of them (13) re- sponded that controlling manager answers to Chief Executive Officer or Board
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Accounting information and controlling in the banking industry 87
On the scale from 1 (strongly disagree) to 5 (strongly agree), most of re- spondents think that in their bank controlling has significant effect on forming accounting information. They rated even better the use of accounting informa- tion for the controlling tasks. Accounting information enables controllers to have a wider insight in bank processes making them more informed. In that context controllers are able to suggest the management better business decision.
Conclusions
This article gives an insight on controlling practices in the banking sector.
The cross-country empirical research was conducted in order to determine the developmental stage of the controlling functions in the observed banks.
The results show that most of the banks (80% of observed subjects) have controlling tasks performed in controlling department. The position of the con- trolling department suggests that controllers have counselling role providing guidance to senior management. Although the controllers in the banks have great role, most of the banks (55%) employ only one or two experts in this field. The reason for low number of controllers in the observed banks can be explained with the rather new business function in those post-transitional countries.
According to the self-assessment of the controllers, it can be stated that 50% of the banks have controlling on the navigator stage, while 30% is classi- fied as recorder and only 20% as innovator.
The empirical results show a rather tight connection with the accounting department. Controllers use accounting information very often and require more data from cost and management accounting in order to have better ground for counselling management. Controlling has a great effect on creation of additional accounting information in accounting department used for thorough analyses and for planning purposes.
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INFORMACJA KSIĘGOWA I CONTROLLING W SEKTORZE BANKOWYM Streszczenie: Controlling stanowi wsparcie systemu zarządzania poprzez dostarczanie odpo- wiednich informacji dla celów decyzyjnych. Artykuł przedstawia implementację controllingu w bankach komercyjnych funkcjonujących w Bośni i Hercegowinie, Chorwacji oraz Montene- gro. Celem artykułu jest wykazanie związku pomiędzy poziomem rozwinięcia systemu control- lingu a realizacją podstawowej funkcji zarządzania. W opracowaniu skupiono się na relacji pomiędzy rachunkowością a controllingiem. Przedstawiono system rachunkowości jako ważne źródło informacji biznesowej. Część empiryczna prezentuje wzajemne oddziaływanie rachun- kowości i controllingu przekładające się na możliwość wykorzystania szerszego zakresu infor- macji generowanych przez system rachunkowości do lepszego funkcjonowania controllingu.
Słowa kluczowe: rachunek kosztów, controlling, banki.
