afm 102 spring slides with iclicker

afm 102 spring slides with iclicker - Managerial Accounting...

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Unformatted text preview: Managerial Accounting 1-1 Managerial Accounting and the Business Environment Chapter One Managerial Accounting 1-2 Management Accounting • “the process of identifying, measuring, analyzing, interpreting, and communicating information in pursuit of an organization’s goals.” (Managerial Accounting, Ronald W. Hilton, 2001, McGraw-Hill Ryerson) What is a key characteristic of management accounting information established by this definition? Can management accounting information be non- financial in nature? Examples? Can management accounting information be subjective in nature? Examples ? Managerial Accounting 1-3 Management Accounting • “the process of identifying, measuring, analyzing, interpreting, and communicating information in pursuit of an organization’s goals.” (Managerial Accounting, Ronald W. Hilton, 2001, McGraw-Hill Ryerson) What is a key characteristic of management accounting information established by this definition? - - Managerial Accounting 1-4 Management Accounting • “the process of identifying, measuring, analyzing, interpreting, and communicating information in pursuit of an organization’s goals.” (Managerial Accounting, Ronald W. Hilton, 2001, McGraw-Hill Ryerson) Can management accounting information be non- financial in nature? Examples? -objective= based on independently verifiable data. e.g. # of products returned -subjective= based in part on personal views; difficult to independently verify -yes, management accounting information can be subjective; customer satisfaction ratings; employee Managerial Accounting 1-5 Management Accounting • “the process of identifying, measuring, analyzing, interpreting, and communicating information in pursuit of an organization’s goals.” (Managerial Accounting, Ronald W. Hilton, 2001, McGraw-Hill Ryerson) Can management accounting information be subjective in nature? Examples? --yes, management accounting information can be subjective; customer satisfaction ratings; employee motivation ,a profit budgets. Managerial Accounting 1-6 iClicker – Question 1 Managerial Accounting 1-7 Work of Management Planning Controlling Directing and Motivating Managerial Accounting 1-8 Planning Identify alternatives. Select alternative that does the best job of furthering organization’s objectives. Develop budgets to guide progress toward the selected alternative. Managerial Accounting 1-9 Directing and Motivating Directing and motivating involves managing day-to-day activities to keep the organization running smoothly. Employee work assignments. Routine problem solving. Conflict resolution. Effective communications. Managerial Accounting 1-10 Controlling The control function ensures that plans are being followed....
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This note was uploaded on 06/28/2011 for the course AFM 102 taught by Professor R.ducharme during the Spring '09 term at Waterloo.

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afm 102 spring slides with iclicker - Managerial Accounting...

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