The chapter concludes with a managerial checklist

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Unformatted text preview: of the statement of cash flows, a formal financial accounting document that shows the results of these sorts of decisions. Chapter 11. Measuring and Reporting Two important phases in the management control process are those that measure and report information to managers. This chapter discusses those phases, placing particular emphasis on flexible budgets and variance analysis—techniques that allow managers to see with some clarity the reasons underlying a difference between budgeted and actual revenues and expenses. It also discusses the limitations of variance analysis, and some of the criteria that are necessary for a good reporting process. It concludes with the topic of measuring and reporting nonfinancial performance, an issue that is taking on increasing importance in many organizations. Chapter 12. Management Accounting in Context This chapter briefly summarizes the material in the first eleven chapters and places it into a broader context. It begins with a discussion of the idea that different costs are used for different purposes, and then summarizes the criteria for a good responsibility accounting system. Next, it positions responsibility a...
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This document was uploaded on 03/30/2014.

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