W1 DQ 1 2 3 - Six Sigma is an important management...

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Six Sigma is an important management philosophy, but it has little effect on management accountants.” Do you agree? Explain. Data driven approach to eliminating defects in any process. Reduces cost by improving quality. Management accounts play a key role in Six Sigma applications. Business processes and management accounting has a cause and effect relationship. All processes affect costs. All costs, costs savings, projected future costs savings are handled by management accounting. Six sigma takes the information gathered to determine the most efficient way to increase production and process accuracy to maximize savings. Accountants measure data and build reports that track the success and failure of the business. The six sigma applications take the historical and projected figures to locate an area that could be made more efficient. What is the advantage of the contribution approach as compared with the absorption approach? Absorption approach is also known as absorption costing. Absorption is used
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This note was uploaded on 06/04/2010 for the course BUSINESS M ACC561 taught by Professor Johnson during the Spring '10 term at University of Phoenix.

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