nintroduction%2Bs2010%2Bpost_1_

nintroduction%2Bs2010%2Bpost_1_ - 11 INTRODUCTION Review...

Info iconThis preview shows pages 1–12. Sign up to view the full content.

View Full Document Right Arrow Icon
Click to edit Master subtitle style INTRODUCTION & Review 11
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Focus on Managerial Accounting 22 Managerial accounting is the process of identifying, measuring, analyzing, interpreting, and communicating information in pursuit of an organization’s goals. Managerial accountants are strategic partners in an organization’s management team. l Serve as internal business consultants on cross-functional teams
Background image of page 2
Four Fundamental Management Processes 33 Decision Making Planning Directing Operational Activities Controlling
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
The Five-Step Decision- Making Process 44 Identify the problem and uncertainties Obtain information Make predictions about the future Make decisions-choosing among alternatives ( analysis ) Implement the decision, evaluate performance and learn
Background image of page 4
Objectives of Managerial Accounting Activity 55 Providing information for decision making and planning, and proactively participating as part of the management team in the decision-making and planning processes Assisting managers in directing and controlling operational activities Motivating managers and other employees toward the organization’s goals Measuring the performance of activities, subunits, managers, and other employees within the organization Assessing the organization’s competitive position, and working with managers to ensure the organization’s long-run competitiveness in its industry
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
66 Cost-Volume-Profit Analysis-Chapter-3 ABC and ABM-Chapter-5 Cost Allocation; Customer Profitability- Chapter 14 (postponing sales-variance analysis for later) Information relevant for Decision Making-Chapter 11 Pricing Decisions and Cost Management- Chapter 12
Background image of page 6
77 Master Budget and Responsibility Accounting-Chapter 6 Flexible Budgets, Sales Variances, Direct Flexible Budgets, Overhead Cost Variances-Chapter 8 Implementation of Strategy-Balanced Scorecard and Strategic Profitability Analysis-Chapter 13
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
88 Cost of Quality, Time and The Theory of Constraints-Chapter 19 Management Control Systems, Transfer Pricing and Multinational considerations- Chapter 22 Performance Measurement, Compensation-Chapter 23
Background image of page 8
Costs Defined 99 A resource sacrificed or forgone to achieve a specific objective l Actual cost – the cost incurred (historical) l Budgeted cost – predicted or forecasted cost (future) Cost object - Anything for which a measurement of costs is desired
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Sunk Costs 10 A cost that has already been incurred and cannot be changed by any decision made now or in the future l Irrelevant for decision-making
Background image of page 10
Opportunity Costs 11 The potential benefit that is given up when one alternative is selected over another
Background image of page 11

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 12
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 41

nintroduction%2Bs2010%2Bpost_1_ - 11 INTRODUCTION Review...

This preview shows document pages 1 - 12. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online