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WHU – Otto Beisheim School of Management has set itself the goal of Thought Leadership; with research, instruction and practice, it pursues all three strategic fields of performance on an equal footing. The Institute of Management Accounting and Control (IMC) at WHU has had a considerable impact in all of these areas in recent years and has made a visible contribution to the success of WHU. The institute is now turning ten years old.
Founded on January 1, 2008, the institute pursues a vision of interlinking theoretical findings with practical implementation in the field of corporate management and controlling, creating academic and practical benefits at the same time. To accomplish this, IMC bundles the resources of the two chairs held by Professor Dr. Utz Schäffer and Professor Dr. Jürgen Weber. To realize its vision, the institute has an academic and non-academic staff of around 20, of which a considerable number are sponsored through third-party funding.
IMC has accomplished a great deal in the decade since its establishment. Nearly 90 doctoral candidates have received their doctorates in the field of research. In a ranking of Ph.D. programs in the field of management accounting, the doctoral program of the IMC was ranked 1st in Europe and 9th in the world. Twelve alumni of the institute have since continued their academic careers as professors at other universities. Internationally, IMC has since emerged as an established center for research and instruction in controlling. A contributing factor in this regard is the ACMAR Conference, through which IMC brings more than 100 researchers from all over the world to Campus Vallendar every year.
IMC is particularly active in the teaching field as well. The past ten years have seen the publication of a total of six new editions of the two standard textbooks, “Einführung in das Controlling” [“Introduction to Controlling”] and “Einführung in das Rechnungswesen” [“Introduction to Accounting”]. The presentation of two Best Teacher Awards to IMC instructors also documents the quality of the courses offered there.
Ever since its establishment, IMC has also attached great importance to maintaining close ties to the practical field. At IMC’s Center for Controlling and Management, there are currently 13 companies working closely with the institute to find answers to the challenges that digitalization poses for controlling. Published by the directors of the institute, the Controlling & Management Review has become established as the most frequently cited, practice-oriented journal in the field of controlling. Each year, well over a hundred controllers and financial officers convene at WHU for the Campus for Controlling. In addition, the institute’s two directors have responsibilities as curators of the International Controller Association (ICV).
Just how well the research, instruction and practice work together can be seen in the WHU Controller Panel. With more than a thousand participants, the panel permits high-quality cross-sectional and longitudinal analyses for academic publications; the panel provides benchmarks for practice and has also been systematically incorporated into instruction.