Managerial Accounting Practices

Managerial Accounting Practices - MANAGERIAL ACCOUNTING...

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MANAGERIAL ACCOUNTING PRACTICES As discussed earlier, the practice of managerial accounting has changed significantly in recent years  to better address the needs of managers. The following sections explain some recent managerial  accounting practices. The Value Chain The  value chain  refers to all activities associated with providing a product or service. For a  manufacturer these include research and development, product design, acquisition of raw materials,  production, sales and marketing, delivery, customer relations, and subsequent service. Illustration  14- 13  depicts the value chain for a manufacturer. In recent years, companies have made huge strides in  analyzing all stages of the value chain in an effort to improve productivity and eliminate waste.  Japanese automobile manufacturer  Toyota  pioneered many of these innovations.  Illustration 14-13   
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Managerial Accounting Practices - MANAGERIAL ACCOUNTING...

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