Objch1gar_10 - competence, confidentiality, integrity, and...

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INTRODUCTORY COST ACCOUNTING Unit 1 : Managerial Accounting and the Business Environment LEARNING OUTCOMES 1. a) Describe what managers do and why they need accounting information. b) Define the terms planning, directing and motivating, controlling, strategy, budgets, controller, feedback, non-monetary data, performance report, planning and control cycle. (pp. 2-7) 2. Identify the differences between financial and managerial accounting. See chart, p. 9 3. Define the term decentralization, organization structure, and compare line versus staff positions. Describe the role of the controller in a decentralized organization.(p. 10-12) 4. Explain the nature and importance of ethics for accountants. Define corporate governance . Describe and understand the practical implications of the four main ethical standards for accountants:
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Unformatted text preview: competence, confidentiality, integrity, and credibility . ( pp. 13-16) 5. Define business process and value chain. List and explain the basic steps in the lean thinking model including the features of JIT production. Define raw materials, work in process, finished goods, and supply chain management. 6. Describe the concept of Six Sigma for improving a process, including the concept of non-value added activities. 7. Describe how computer technology is being used with respect to E-commerce and Enterprise systems . 8. Define Enterprise Risk Management. Review the types of risks companies face and how they implement strategies to manage the risks (see chart p. 21). Assignment Problems: E 1-1, E 1-2, E1-3, P1-4, P1-6, P1-7 RF 09/09...
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This note was uploaded on 03/03/2012 for the course ACCT 2460 taught by Professor Farrar during the Winter '12 term at Conestoga.

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