The Power of Six Sigma or Introduction to Financial Accounting

The Power of Six Sigma: An Inspiring Tale of How Six Sigma Is Transforming the Way We Work

Author: Subir Chowdhury

This is not your boss's book on Six Sigma! The remarkable process of Six Sigma, which has been touted by such management gurus as GE's CEO, Jack Welch, is beautifully explained in this engaging, true-to-life tale. Never before has a business initiative transformed corporations so dramatically. While it has been credited with improving productivity, slashing costs, and improving profit margins, it can cause much angst among employees who need to change the way they currently work and adhere to a new philosophy. Corporations have seen radical change for the better, and to achieve those improvements requires radical change by employees. And it all starts with acceptance. The Power of Six Sigma is unlike any other book on Six Sigma. This fictionalized tale simplifies a complicated topic and, through dialogue between Joe and Larry, explains the way Six Sigma works in a nonthreatening, easy-to-understand way. Everyone in the organization will learn what Six Sig ma is and how it works.

Publishers Weekly

Using a format similar to that in Spenser Johnson's Who Moved My Cheese?, Chowdhury (Management 21C) has created a fictional story that exemplifies the benefits of the business philosophy called Six Sigma. In Chowdhury's rendering, Joe, a middle-aged manager unexpectedly laid off from his position at a fast-food franchise company, is depressed and uncertain about his next move. He calls Larry, an old friend and former co-worker whose career is thriving. Over lunch, Larry explains how he has practiced Six Sigma, both to advance his career and to increase profits for his employer, and he teaches the program's basics to an initially skeptical, then wildly enthusiastic Joe. At the crux of this strategic program, advanced by GE's Jack Welch and instituted at many other major corporations, is a renewed focus on eliminating mistakes, waste and rework. Six Sigma is based on designated teams ("people power") that focus solely on solving a specific problem ("process power"), which may lead to efficiencies that please consumers and, by saving the company money, enhance the bottom line. What distinguishes Six Sigma from other popular quality management techniques, such as Total Quality Management and ISO9000, is that each team has a clear goal; moreover, employees benefit because companies usually tie a financial incentive to a team's goal. While Chowdhury's is not the first book about Six Sigma, what makes his stand out is its engaging and simple approach intended for a broad audience, from the assembly line worker to middle managers and CEOs of smaller companies. (Apr.) Forecast: Given the attention paid to Six Sigma, and Dearborn's ambitious 50,000-copy announced first printing, this book has a reasonable chance of hitting business bestseller lists if Dearborn can jump-start word-of-mouth and find ways to encourage managers to make the book required reading for employees. Copyright 2001 Cahners Bus iness Information.

What People Are Saying

Dave Ulrich
"Subir Chowdhury has broken down the often mystical subject of Six Sigma into a very thorough, yet easy, read. I believe The Power of Six Sigma will do for your customer centered, profit driven defect reduction efforts what The Goal did for cycle time reduction and supply chain improvement." Steve Gunther, Vice President, Six Sigma Deployment, Seagate Technology "Six Sigma has become a central part of business success, and everyone must know and apply these principles to their organization. The Power of Six Sigma will promote buy-in within all levels of the organization, as it breaks down what can be a complicated topic into an easy-to-understand, enjoyable read... This book will become a source code for those who want to understand and execute Six Sigma successfully.
— (Dave Ulrich, Professor of Business, University of Michigan)

Table of Contents:

	Preface	XI
	Moving Day	1
	Lunch is Served	11
	Swallowing Six Sigma	19
	The Crucial Differences	37
	People Power: Who Does What	47
	Putting People Power into Practice	73
	Process Power: The Five Steps of Six Sigma	79
	Putting Process Power into Practice	9 5
	We Deliver	103
	Acknowledgments	119
	About the Author	123

New interesting textbook: Intermediate Microeconomics or Health Disparities in the United States

Introduction to Financial Accounting

Author: Charles Horngren

Introductory Financial Accounting, 9e provides a unique and perfect blend of robust financial statement analysis with early statement of cash flows coverage. It is directed at those who will analyze real financial statements, and make business decisions based upon that analysis. Real statements are used throughout (Starbucks). Statement of Cash Flows comes earlier in this book than most.

Material is focused on analysis of financial statements — ratios introduced early and often, special “Portfolio” section provides a “road map” to financial statement analysis, and special section in end-of-chapter problems focuses on analyzing financial statements (using Starbucks financial statements). Features strong coverage of statement of cash flows (Ch 5) --an essential financial statement, one of growing importance, and should be regarded as a basic statement.

For financial accountants.

Table of Contents:

Pt. 1	The Fundamentals of Accounting
1	Entities and Balance Sheets	1
2	Income Measurement: The Accrual Basis	38
3	The Recording Process: Journals and Ledgers	86
4	Accounting Adjustments and Financial Statement Preparation	130
5	Accounting Cycle: Recording and Formal Presentation	169
Pt. 2	Major Elements of Basic Financial Statements
6	Sales Revenue, Cash, and Acc ounts Receivable	230
7	Valuing Inventories, Cost of Goods Sold, and Gross Profit	263
8	Internal Control and Ethics	319
9	Long-Lived Assets and Depreciation	374
10	Liabilities and Interest	427
11	Statement of Cash Flows	488
12	Stockholders' Equity	534
Pt. 3	Additional Elements of Financial Statements
13	Intercorporate Investments, Including Consolidations	581
14	Income Taxes, Including Interperiod Allocation	630
15	Analysis of Financial Statements	667
16	Financial Statements: Conceptual Framework and Income Measurement	719
	Appendix A: Wal-Mart Annual Report	759
	Appendix B: Recommended Readings	773
	Glossary	775
	Index	795