Chapter 1: Introduction
Executive Summary
Section A: Context
    The Challenge to Finance
    Research Finding
Section B: Value-adding Finance
    Research Findings
    Elements of Value-adding Finance
Section C: Contributing to Strategy Implementation with the Balanced
Scorecard
    The Balanced Scorecard Explained
    Case Report: Coca-Cola Beverages Sweden
    Scorecard Ownership
    'Unbalanced’ Scorecards
Section D: An Integrated Management Approach
    Budgeting and Planning Shortcomings
    Case Report: Diageo
    Steps for Linking Strategies to Resource Allocation and Budgeting
    Implications for Finance Professionals
Section E: Becoming a Business Partner
    Case Report: International Truck and Engine Corporation
    Case Report: Royal Bank of Scotland
Section F: Leveraging Technology Throughout the Company
    Web-based Technologies
    The Threats of Information Technology
Section G: Delivering Shareholder Value
    Case Report: Skandia
Section H: Delivering World-class Financial Processes
    Shared Services and Outsourcing
Section I: The Finance Scorecard
    Finance Scorecard Examples
Section J: Conclusion
Key Learning Points
Case Study: Diageo

Chapter 2: Transforming Business Performance Management and Measurement
Executive Summary
Section A: Context
    Acceptance by the Business
    An Integrating Framework
Section B: Research Findings
    Obstacles to Business Partnering
Section C: Finance as Custodians of New Integrated Management
Frameworks
    Key Research Findings
    The Balanced Scorecard and Business Integration
    Case Report: Nationwide Financial Services
Section D: Rethinking the Budgeting Process
    The Strain of the Budget
    Research Findings
    Planning and Performance Measurement Study
    Why a Good Strategy is not Enough
    Case Report: Diageo
    Case Report: SKF
    Case Report: Borealis
    Rolling Forecasts
    Activity-based Budgets
    Budgeting Research Programme
Section E: Barriers to Integration
    Difficulties in Re-engineering the Planning Process
    Re-engineering Success Case Reports
    Case Report: Xilinx
    Case Report: Nationwide Financial Services
Section F: Balanced Scorecard — Critical Success Factors
    Case Study Examples
    Scorecard Success and Failure
    Skills Requirements
Section G: Conclusion
Key Learning Points
    Aligning the Budget with Strategic Initiatives: Kaplan’s Four-step Process
Case Study:The Royal Bank of Scotland

Chapter 3: The Finance Scorecard: Exclusive Research
Executive Summary
Section A: Ten Key Findings
Section B: Context
    Comparison with 1997 Findings
Section C: The Role of the Finance Function
    Broader Business Skills
    Customer Feedback
    Benchmarking
Section D: Re-engineering or Radical Restructuring of the Finance
Function
Section E: Outsourcing and Shared Services
    Outsourcing
    Shared Services Centres
Section F: Corporate Performance Measurement
    New Performance Measures
    The Finance Scorecard
    Shareholder Value Techniques
    Intellectual Capital Measures
    Integrating Strategic Planning, Budgeting and Performance
    Measurement
Section G: Future of the Finance Function
    Risks to Finance
    Effectiveness of Professional Institutions
    Implications of E-commerce
    Mergers and Acquisitions
Section H: Conclusion
Key Learning Points

Chapter 4: Managing, Implementing and Communicating
Shareholder Value
Executive Summary
Section A: Context
    Measures of Shareholder Value
Section B: Explaining EVA®
    Making a Capital Charge
    EVA® Calculation Example
    Accounting Anomalies
Section C: Shareholder Pressure
    The Power of Pension Funds
    Future Directions
    What Investors Look For
Section D: EVA® as Management System
    The Four Ms
    How EVA® can be Considered a Management System
    Case Report:Alltrista
    Case Report: Millennium Chemicals
Section E: Acquisitions and Strategic Disposals
    Acquisitions
    Strategic Disposals
    Strategic Repositioning
    Summary
Section F: EVA® and the Balanced Scorecard
    Understanding the Wider Sources of Value
    Translation Difficulties
    Case Report: MultiCom
    Case Study Examples
    Research Findings
    Summary
Section G: Incentive—Compensation Mechanisms
    An EVA®-based Incentive—compensation System
    Case Report: Sirona
    EVA®-based versus Traditional Compensation Systems
Section H: Creating the EVA® Mindset
    Internal Communications
    Case Report: Siemens
    Case Report:Tate & Lyle
    Training
    Case Report: Millennium Chemicals
    Overcoming Resistance
Section I: EVA® Shortcomings
    EVA® and Intellectual Capital Measurement
Section J: Communicating Shareholder Value
Section K: Conclusion
Key Learning Points
Case Study:Tate & Lyle
Case Study: Millennium Chemicals

Chapter 5: Driving Excellence in Finance Processes
Executive Summary
Section A: Context
Section B: Activity-based Approaches
    Definitions
Section C: Activity-based Approaches and the Balanced Scorecard
    Case Report: Royal Bank of Scotland
    Case Report: International Truck and Engine Corporation
    Activity-based Approaches and Other Performance Improvement Tools
    Case Report: Sallie Mae
Section D: Activity-based Budgeting
    Definition
   Activity-based Budgeting in Practice
Section E: Implications for Finance Professionals
    A Value Adding Focus
    A Ten-point ABC/ABM Implementation Guide
Section F: Benchmarking
    What is Benchmarking
    Case Report: BT
    Case Report: Celestica
    Research Findings
    Benchmarking Benefits
Section G: Benchmarking Findings
    Main Processes Benchmarked
    Benchmarking Data
    PriceWaterhouseCoopers’ Benchmark
    Ensuring Data Relevance
    Implementing a Benchmarking Programme
    Gunn Partners Benchmarking Process
    Case Report: IBM
    Benchmarking Conclusion
Section H: Conclusion
Key Learning Points
Case Study: International Truck and Engine Corporation

Chapter 6: Measuring the Effectiveness of Financial
Shared Services Centres and Outsourcing
Executive Summary
Section A: Context
Section B: Financial Shared Services Centres and Outsourcing
Definitions
    Key Approach Differences
    Approach Fusion
Section C: Benefits of Shared Services
    Achieved Benefits of Shared Services
    Case Report:AlliedSignal
    Shared Services: Research Evidence
Section D: Benefits of Outsourcing
    Research Findings
Section E: Shared Services — Critical Success Factors
    Making the Business Case
    Shared Services — Total Process Costs
    Performance Measures
    Change Management
    Effective HR Management
Section F: Outsourcing — Critical Success Factors
    Culture Fit
    Understanding the True Process Costs
    Continuous Improvement
    Robust Performance Measures
    Staff Involvement
    Vendor Selection — Critical Success Factors
    PriceWaterhouseCoopers Six CSFs
Section G: Performance Measurement
    Hackett BenchmarkingSolutions Shared Services Benchmark
Section H: Balanced Scorecard
    A Shared Services Centre Scorecard
    Case Report:Whirlpool
    Case Report:American Express
    An Outsourcing Scorecard
Section I: Conclusion
Key Learning Points
Case Study:Whirlpool Shared Services Centre
Case Study: Elf Oil UK

Chapter 7: Creating Future Value
Executive Summary
Section A: Introduction
Section B: Intellectual Capital
    Definition
    Human Capital
    Structural Capital
    Organizational Capital
    Customer Capital
Section C: Benefits of Measuring and Managing Intellectual Capital
    Research Findings
    Creating Economic Value
    Case Report: Clarica
    Assured Survival
    Improved Investor Understanding
    Improved Internal Understanding
    Improved Profitability of Hidden Resources
    Case Report: Dow Chemical Company
Section D: Intellectual Capital and the Balanced Scorecard
Section E: Knowledge Management
    Knowledge Hierarchy
Section F: The Balanced Scorecard and Knowledge Management
    Research Findings
Section G: Intellectual Capital Metrics
    Measuring Human Capital
    Case Report: Whirlpool Europe Shared Services
    Case Report: Royal Bank of Scotland
    Structural Capital
    Case Report: Coca-Cola Beverages Sweden
    Customer Capital
    Choosing the ‘Key’ Measures
Section H: Intellectual Capital and the Finance Function
    Case Report: Skandia
    Case Report: Clarica
Section I: E-commerce
    Research Findings
    Definition
    Changing the Shape of Organizations
    The Pressures on Measurement
    Integrating the Customer Supply Chain
Section J: Implications for the Finance Function
    Information Management
    Finance Function Skills Requirements
Section K: Conclusion
    Key Learning Points
Case Study: Skandia
Case Study: Nestlé

Chapter 8: Developing the Finance Scorecard
Executive Summary
Section A: Context
Section B: Benefits of a Finance Scorecard
    Questioning the Value of Finance
    Value Components
    Case Report: Coca-Cola Beverages Sweden
    Research Findings
    Can a Finance Scorecard be Stand-alone?
Section C: Designing and Implementing a Finance Scorecard
    Key Factors
    Functional Vision
    Case Report: Coca-Cola Beverages Sweden
    An Implementation Template
    Case Report: ABB Sweden
    Human Resource Policies
    Choosing Measures
Section D: Finance Scorecard Templates
    The Balanced Scorecard Collaborative
    Melville Template
    Summary
Section E: Skills Requirements
    Overview of Skills Required
    Financial Perspective
    Customer Perspective
    Internal Perspective
    Learning and Growth Perspective
Section F: Conclusion
    The Balanced Scorecard
    A Considerable Challenge
    The Future — Finance in 2005
Key Learning Points
Case Study: Coca-Cola Beverages Sweden