Tutorial 1 - 1. Give 3 examples of organisational...

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1 ACCT2522 Management Accounting 1 Session 1, 2009 Tutorial Week 1 – Introduction to Management Accounting Desired Learning Outcomes and Readings Langfield-Smith, K., H. Thorne and R.W. Hilton (2009). Management Accounting 5e: Information for Managing and Creating Value , 5 th ed, McGraw-Hill Australia Pty Ltd. (Hereafter referred to as LS) Chapter 1 Please note: This was also required reading in AFM1B, so it should be vaguely familiar to you! After completing this topic, you should be able to: 1. Understand what management accounting entails 2. Distinguish between effectiveness and efficiency 3. Broadly understand what is meant by “value” Tutorial Questions Management Accounting has been defined as: “The processes and techniques that focus on the effective and efficient use of organisational resources, to support managers in their tasks of enhancing both customer value and shareholder value.” (LS p.6)
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Unformatted text preview: 1. Give 3 examples of organisational resources. 2. Explain what is meant by (1) effective and (2) efficient use of organisational resources. 3. Choose one of the organisational resources you listed in your answer to question 1. Describe a way of determining (1) how effectively and (2) how efficiently an organisation might be using it (tip: imagine you have two lots of the same kind of resource, and you want to compare them in terms of effectiveness and efficiency how would you do it?) 4. What is meant by customer value? Give examples of what a customer may value from the purchase/acquisition of the following products/services: (a) Bread from the local bakery (b) A bank loan (c) Home delivered pizza 5. What is meant by shareholder value? Give examples of what an owner/shareholder of the following businesses might value: (a) Local bakery (b) Bank (c) Pizza parlour...
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This note was uploaded on 01/31/2012 for the course ACCT acct taught by Professor A during the Three '11 term at University of New South Wales.

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