Professional Documents
Culture Documents
McGraw-Hill/Irwin
Learning
Objective
1
McGraw-Hill/Irwin
Learning
Objective
2
McGraw-Hill/Irwin
Directing
Acquires Resources
Hires People
Organized
Organized set
set
of
of activities
activities
Controlling
Decision
Making
Planning
Learning
Objective
3
McGraw-Hill/Irwin
Financial Perspective
Goals
Measures
In which activities
must we excel?
Customer Perspective
Goals
Measures
Operations Perspective
Goals
Measures
How do customers
see us?
Innovation Perspective
Goals
Measures
How can we
continue to
improve?
Learning
Objective
4
McGraw-Hill/Irwin
Financial
Financial Accounting
Accounting
Published
Published financial
financial
statements
statements and
and other
other
financial
financial reports.
reports.
External
Users
Learning
Objective
5
McGraw-Hill/Irwin
AA staff
staff position
position supports
supports
and
and assists
assists line
line positions.
positions.
Example:
Example: AA cost
cost
accountant
accountant in
in the
the
manufacturing
manufacturing plant.
plant.
Learning
Objective
6
McGraw-Hill/Irwin
Controller
The
The chief
chief managerial
managerial and
and financial
financial accountant
accountant
responsibility
responsibility for:
for:
Supervising
Supervising accounting
accounting personnel
personnel
Preparation
Preparation of
of information
information and
and reports,
reports, managerial
managerial
and
and financial
financial
Analysis
Analysis of
of accounting
accounting information
information
Planning
Planning and
and decision
decision making
making
Treasurer
Responsible
Responsible for
for raising
raising capital
capital and
and safeguarding
safeguarding the
the
organizations
organizations assets.
assets.
Supervises
Supervises relationships
relationships with
with financial
financial institutions.
institutions.
Work
Work with
with investors
investors and
and potential
potential
investors.
investors.
Manages
Manages investments.
investments.
Establishes
Establishes credit
credit policies.
policies.
Manages
Manages insurance
insurance coverage
coverage
Internal Auditor
Responsible
Responsible for
for reviewing
reviewing accounting
accounting procedures,
procedures, records,
records,
and
and reports
reports in
in both
both the
the controllers
controllers and
and the
the treasurers
treasurers
area
area of
of responsibility.
responsibility.
Expresses
Expresses an
an opinion
opinion to
to top
top
management
management regarding
regarding the
the
effectiveness
effectiveness of
of the
the
organizations
organizations accounting
accounting
system.
system.
Learning
Objective
7
McGraw-Hill/Irwin
Costs
Costs and
and
Benefits
Benefits
Information
Information
and
and Incentives
Incentives
Evolution
Evolution and
and
Adaptation
Adaptation
Managerial
Accounting
Service vs.
Manufacturing Firms
Emergence of New
Industries
Global Competition
Focus on the Customer
Cross-Functional Teams
Change
Information and
Communication
Technology
Just-in-Time Inventory
Total Quality Management
Continuous Improvement
Measure
Measure the
the cost
cost of
of
resources
resources consumed.
consumed.
Identify
Identify and
and eliminate
eliminate
non-value-added
non-value-added
costs.
costs.
Cost
Management
System
Determine
Determine efficiency
efficiency
and
and effectiveness
effectiveness of
of
major
major activities.
activities.
Identify
Identify and
and evaluate
evaluate
new
new activities
activities that
that
can
can improve
improve
performance.
performance.
Cost
Management
System
Learning
Objective
8
McGraw-Hill/Irwin
Start
Production
Production
Marketing
Marketing
Distribution
Distribution
Customer
Customer
Service
Service
Theory of Constraints
A sequential process of identifying and removing
constraints in a system.
Restrictions
Restrictions or
or barriers
barriers that
that impede
impede
progress
progress toward
toward an
an objective
objective
Learning
Objective
9
McGraw-Hill/Irwin
Learning
Objective
10
McGraw-Hill/Irwin
Managerial Accounting as a
Career
Professional Organizations
Publishes
Publishes
Management
Management
Accounting
Accounting
and
and research
research
studies.
studies.
Administers
Administers
Certified
Certified
Management
Management
Accountant
Accountant
program
program
Develops
Develops
Standards
Standards of
of
Ethical
Ethical
Conduct
Conduct for
for
Management
Management
Accountants
Accountants
Professional Ethics
Competence
Confidentiality
Integrity
Credibility
End of Chapter 1