ch07 - Management Accounting and Control Systems: Assessing...

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Management Accounting and Control Systems: Assessing Performance over the Value Chain Chapter 7
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Management Accounting and Control System Generates and uses information to help decision makers assess whether an organization is achieving its objectives A cost management system is one of the central performance measurement systems at the core of a larger entity known as a management accounting and control system 2
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What does a MCAS Cover? Sales Plan Mfg. Labor Hours and $ Material Plan G&A Budget Production Plan Overhead Expenses
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“Control” In Management Accounting And Control A set of: Procedures Tools Performance measures Systems Used by organizations to guide and motivate employees to achieve organizational objectives 4
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In Control A system is in control if it is on the path to achieving its strategic objectives For the process of control to have meaning and credibility, the organization must have the knowledge and ability to correct situations that it identifies as out of control 5
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Five Stages Of Control Planning Execution Monitoring Evaluation Correction 6 Three roles of management accounting: Scorekeeping Attention Directing Decision Making
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Stages of Control: Planning Developing an organization’s objectives Choosing activities to accomplish the objectives Selecting measures to determine how well the objectives were met 7
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Stages of Control: Execution and Monitoring Execution Implementing the plan Monitoring The process of measuring the system’s current level of performance 8
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Stages Of Control : Evaluation and Correcting
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ch07 - Management Accounting and Control Systems: Assessing...

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