ACIS2116Chap1Slides_with_blanks

ACIS2116Chap1Slides_with_blanks - Managerial Accounting and...

Info iconThis preview shows pages 1–10. Sign up to view the full content.

View Full Document Right Arrow Icon
    Managerial Accounting and  the Business Environment Chapter One
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
    How does Managerial Accounting  differ from Financial Accounting?
Background image of page 2
    Comparison of Financial and  Managerial Accounting Financial Accounting Managerial Accounting 1. Users External users who Internal users who plan for make financial decisions and control an organization Owners Managers Creditors Employees Tax Authorities Regulators 2. Time focus Historical perspective Future emphasis
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
    Comparison of Financial and  Managerial Accounting Financial Accounting Managerial Accounting 3. Verifiability Emphasis on verifiability Emphasis on relevance versus relevance and objectivity for planning and control Focus on monetary Nonmonetary data data considered 4. Precision versus Emphasis on Emphasis on timeliness precision timeliness
Background image of page 4
    Comparison of Financial and  Managerial Accounting Financial Accounting Managerial Accounting 5. Subject Primary focus is on Focuses on segments summarized data for of an organization the whole organization 6. GAAP Must follow GAAP Need not follow any GAAP and prescribed formats or any prescribed format (Financial Statements) 7. Requirement Mandatory for Not external reports Mandatory
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
    Organizations What is an organization? Group of people that get together to  achieve an objective What kinds of organizations are there?
Background image of page 6
    Need for Information Why do managers need information? To run their organization, to plan for the future, and to  make sure that the organization is doing what you  want it to do What do managers do?
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
    Work of Management     Planning Controlling Directing and Motivating
Background image of page 8
    What is Planning? Identify
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 10
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 32

ACIS2116Chap1Slides_with_blanks - Managerial Accounting and...

This preview shows document pages 1 - 10. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online