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Chapters 1 2 Lectu - 1 Chapters 1 2 Introduction to Management Accounting Cost Terms Concepts and Classifications A Managerial Accounting for

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1 Introduction to Management Accounting Cost Terms, Concepts and Classifications A. Managerial Accounting for # designed to help managers # tailored to # not governed by however, the information used for insiders overlaps with information for external users. Therefore, you will see the influence of # management has to look at the whole picture to make good business decisions. # ever changing environment with new operating methods and challenges to face.
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B. Management Accounting VS. Financial Accounting Mgmt. Accounting Financial Accounting Primary Users Time Focus Reports Types of accounting systems Units of Measure Focal point for analysis Degree of objectivity
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C. What are the three main functions of management? 1. Planning - 2. Organizing, directing and motivating - 3. Controlling - D. What are the primary concerns of management? 1. Increasing the 2. Increasing 3. Achieving 4. Reducing 5. Global To help management with these concerns, managerial accountants use both financial and nonfinancial information to provide the reports management needs to make decisions. The information is provided by the management accounting information system the company uses. E. Methods Used to Continuously Improve 1. Just-In-Time Operating Environment Production systems designed to eliminate waste by such means as sequentially arranged production activities, low setup times, demand-pull production scheduling, and a high level of employee training and commitment.
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This note was uploaded on 01/13/2011 for the course BUS A202 taught by Professor Tindall during the Spring '10 term at IUPUI.

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Chapters 1 2 Lectu - 1 Chapters 1 2 Introduction to Management Accounting Cost Terms Concepts and Classifications A Managerial Accounting for

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