Management accounting when an organization is facing default

The book studies the role of accounting and accountants during the crisis, with a specific focus on how management accounting may help to deal with organizational uncertainty. After a brief introduction, the book is made up of four main parts: Chapter 1 describes the role that management accounting can assume in dealing with uncertainty, and how such a role has gained respect over recent decades due to an extremely dynamic business environment. Chapter 2 studies the issues management process and proposes a specific model to be adopted by organizations in order to avoid or mitigate financial distress, and eventually cope with a serious crisis threatening default. Such a model supports the need for continuous monitoring and planning activity by the management accounting function. Chapter 3 focuses on the function covered by management accountants (i.e., internal auditors) and the instruments adopted in their strategic and operative control activity to deal with uncontrollable situational factors, i.e., uncertainty. Chapter 4 offers a digression on enterprise risk management and its criticalities in times of crisis. Finally, brief comments conclude the book.