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Lecture slides

Lecture slides - • Decision-Helping – The Basics –...

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1 Lecture 1 What is managerial accounting? Why use managerial accounting? What is managerial accounting? the process of obtaining and analyzing relevant information to help achieve organizational goals What is it not? Financial Accounting Managerial Accounting A Reporting system A Decision-making tool Internal and external users Internal users only General-purpose financial statements Special-purpose information Statements highly aggregated Aggregated or detailed Historical Oriented toward future decisions GAAP No legal requirements Objective Data Allows subjective data DECISION RELEVANCE
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2 Why use managerial accounting? • Decision-helping role • Decision-changing role What’s in the syllabus?
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Unformatted text preview: • Decision-Helping – The Basics – Information for Decision-making – Internal Accounting Choices and Decision-making • Decision-Changing – Planning & Budgeting – Performance Measurement The Big Picture (What?/Why?) • What Will We Learn? – Ways to generate and interpret decision-useful information. • Why Is It Important? – More effective strategic decision-making and control within the firm. 3 Next two classes • How different kinds of costs behave – A Review of Costing Fundamentals – Chapters 2 & 10 – What information is relevant? – Fundamental Building Blocks! Life will be easier if you get these basics!!!...
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Lecture slides - • Decision-Helping – The Basics –...

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