Prologue - P-1 Brewer/Garrison/Noreen Introduction to...

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P-1 Introduction to Managerial Accounting Fourth Edition Brewer/Garrison/Noreen Prologue Managerial Accounting and the Business Environment Globalization Reduction in tariffs and quotas Improvements in global transportation systems Expansion of Internet usage Increasing sophistication in international markets
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P-2 The Global Marketplace Companies that have been successful in their local markets may suddenly find themselves facing competition from halfway around the globe. The Global Marketplace New Markets New Customers New Workers Strategy A strategy is a “game plan” that enables a company to attract customers by distinguishing itself from competitors. Customer Intimacy Operational Excellence Product Leadership
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P-3 Corporate Organization Chart Purchasing Personnel Vice President Operations Treasurer Controller Chief Financial Officer President Board of Directors Organizational Structure An organization is a group of people united for a common purpose. De c e n t r a liz io d is m k in g The Functional View of Organizations Line positions are directly related to the achievement of the basic objectives of an organization. Example: Production supervisors in a manufacturing plant. Staff positions support and assist line positions. Example: Cost accountants in the manufacturing plant. The Chief Financial Officer (CFO) A member of the top management team which is responsible for: Providing timely and relevant data to support planning and control activities. Preparing financial statements for external users.
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P-4 A business process is a series of steps that are followed in order to carry out some task in a business. Process Management Value Chain Research and and Development Development Product Design Product Design Manufacturing Manufacturing Manufacturing Marketing Marketing Distribution Distribution Customer Service Customer Service Service Business Functions Making Up the Value Chain A value chain consists of the major business functions that add value to a company’s products and services. Lean Production Traditional Thinking • Minimize unit costs by maximizing output. • Keep everyone busy. Idleness wastes money. • Push products through the system even if unsold inventory piles up in warehouses.
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P-5 Lean Production Step 1 Identify value in specific products/services Step 2 Identify the business process that delivers value Step 3 Organize work arrangements around the flow of the business process Step 4 Create a pull system that responds to customer orders Step 5
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Prologue - P-1 Brewer/Garrison/Noreen Introduction to...

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