Chapter 1 - Chapter 1 Managerial Accounting and the Business Environment Managerial Accounting Concerned with providing information to managers

Info iconThis preview shows pages 1–16. Sign up to view the full content.

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

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

View Full DocumentRight Arrow Icon
Managerial Accounting Concerned with providing information to managers – people inside an organization who direct and control operations.
Background image of page 2
Comparison of Financial and Managerial Accounting
Background image of page 3

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

View Full DocumentRight Arrow Icon
Imports into the United States - 50 100 150 200 250 300 Years US Imports (billions of $) Canada China Germany Japan Mexico United Kingdom 1990 1995 2000 2004
Background image of page 4
Exports from the United States - 20 40 60 80 100 120 140 160 180 200 Years US Exports (billions of $) Canada China Germany Japan Mexico United Kingdom 1990 1995 2000 2004
Background image of page 5

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

View Full DocumentRight Arrow Icon
Internet Usage The Internet fuels globalization by providing companies with greater access to geographically dispersed customers, employees, and suppliers. The number of internet users more than doubled during the first four years of the new millennium.
Background image of page 6
Strategy A strategy is a “game plan” that enables a company to attract customers by distinguishing itself from competitors. The focal point of a company’s strategy should be its target customers.
Background image of page 7

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

View Full DocumentRight Arrow Icon
Customer Value Propositions Understand and respond to individual customer needs. Customer Intimacy Strategy Operational Excellence Strategy Deliver products and services faster, more conveniently, and at lower prices. Product Leadership Strategy Offer higher quality products.
Background image of page 8
Work of Management Planning Controlling Directing and Motivating
Background image of page 9

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

View Full DocumentRight Arrow Icon
Planning Identify alternatives . Select alternative that does the best job of furthering organization’s objectives. Develop budgets to guide progress toward the selected alternative.
Background image of page 10
Directing and Motivating Directing and motivating involves managing day-to-day activities to keep the organization running smoothly. Employee work assignments. Routine problem solving. Conflict resolution. Effective communications.
Background image of page 11

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

View Full DocumentRight Arrow Icon
Controlling The control function ensures that plans are being followed. Feedback in the form of performance reports that compare actual results with the budget are an essential part of the control function.
Background image of page 12
Planning and Control Cycle Decision Making Formulating long- and short-term plans (Planning) Measuring performance (Controlling) Implementing plans (Directing and Motivating) Comparing actual to planned performance (Controlling) Begin Exhibit 1-2
Background image of page 13

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

View Full DocumentRight Arrow Icon
C o r p o r a t e O r g a n i z a t i o n C h a r t P u r c h a s i n g P e r s o n n e l V i c e P r e s i d e n t O p e r a t i o n s T r e a s u r e r C o n t r o l l e r C h i e f F i n a n c i a l O f f i c e r P r e s i d e n t B o a r d o f D i r e c t o r s Organizational Structure Decentralization is the delegation of decision- making authority throughout an organization.
Background image of page 14
A member of the top management team responsible for: Providing timely and relevant data to support planning and control activities. Preparing financial statements for external users.
Background image of page 15

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

View Full DocumentRight Arrow Icon
Image of page 16
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/05/2010 for the course ACCT 285 taught by Professor Carver during the Fall '08 term at Iowa State.

Page1 / 45

Chapter 1 - Chapter 1 Managerial Accounting and the Business Environment Managerial Accounting Concerned with providing information to managers

This preview shows document pages 1 - 16. Sign up to view the full document.

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