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Denise Seals - Week One Summary

Denise Seals - Week One Summary - Denise Seals Managerial...

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Denise Seals Managerial Accounting MBAC5213OL Dr. Lemler March 4, 2009 Week 1 – Summary Managerial accounting is truly going to be a test for me to understand. Week one as taught me that I have a lot to learn and understand to master this course. I know I will have a lot to learn understanding the correct terminology and well as the processes. This week has emerged me in the correct accounting terminology of many items I have seen or used in the pass without having a clear understanding of what things meant. A good example is the definition between a product and services. Previous to this course, I thought there was only one category of products and a product was only something used by a consumer. After week one I now know a product is actually called tangible products and there are 4 categories: intangibility, perishability, inseparability, heterogeneity. In addition I now understand the information needs for the costing and decision process, inputs, process, and outputs, along the management process, planning, controlling and decision making.
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