CH01

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Unformatted text preview: time horizons Annual and quarterly financial reports Behavioral Issues Designed to influence employee behavior Indirect effects on employee behavior Purpose Primary Users Focus/Emphasis Rules Quick Check ü༏ Which of the following statements refers to management accounting information? A) There are no regulations governing the reports. B) The reports are generally delayed and historical. C) The audience tends to be stockholders, creditors, and tax authorities. D) It primarily measures and records business transactions. Quick Check ü༏ Modern cost accounting plays a role in: A) planning new products B) evaluating operational processes C) controlling costs D) All of these answers are correct. Managers’ Responsibili&es Planning Decision Making Setting goals and objectives Directing Overseeing day-to-day operations Controlling Evaluating results of operations Planning Identify alternatives. Select alternative that does the best job of furthering organization’s objectives. Develop budgets to guide progress toward the selected alternative. Planning •  Setting goals and objectives and how to achieve them •  Examples of planning: •  Generate more sales via opening new stores vs. promotions •  Reduce product cost by reducing labor cost vs. raw material cost The most important planning tool is a BUDGET. Direc&ng • Overseeing company’s day-to-day operations • Examples: •  Using daily/weekly sale...
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This document was uploaded on 02/16/2014 for the course ACC 311 at Cal Poly Pomona.

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