ACIS+2116+Chapter+1+Powerpoint+Spring+2010

ACIS+2116+Chapter+1+Powerpoint+Spring+2010 - ACIS 2116...

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1 Click to edit Master subtitle style ACIS 2116 Chapter One Introduction to Managerial Accounting
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2 Today’s Business Environment Business environment is constantly changing Companies compete in global marketplace Organizations must have information to remain competitive
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3 Need for Information Managers need information for decision-making What kinds of decisions to managers make? Examples: What products should be produced and sold? How much should be produced? How much does the product cost? How much raw material is needed to produce the product? How much labor is needed?
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4 Data vs. Information vs. Knowledge DATA – Raw facts and figures INFORMATION - Data that have been organized, processed, and summarized. KNOWLEDGE – Information that is shared and used to make decisions that help an organization.
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5 What is Accounting? System for providing information that is useful in making decisions. That “information” is not just financial information. It is information about many different aspects of an organization.
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6 Accounting Information System Purpose – to capture data , transform it and organize it to produce information . Traditional AIS only captures data about financial transactions. However, decision makers need nonfinancial information also.
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7 Financial vs. Nonfinancial Information Examples of Financial Information Examples of Nonfinancial Information Sales revenue Operating expenses Net Income Total Assets Current liabilities Stockholders’ Equity Quantitative: Number of units in inventory Percentage of product defects Number of warranty claims Length of time it takes to produce a product Qualitative: Company reputation Customer satisfaction Employee satisfaction Product or service quality
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8 Enterprise Resource Planning System (ERP) Organization-wide system Can capture data related to all aspects of an organization. Can capture
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ACIS+2116+Chapter+1+Powerpoint+Spring+2010 - ACIS 2116...

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