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  • Management Accounting

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    moss roffatt
    23 vizualizări13 pagini
    This document discusses management accounting. It explains that management accounting provides internal reporting to help with decision making, planning, and control, unlike financial accounting which provides external reporting. Some key differences between the two are that management accounting involves non-compliance, prospective information, and subjective relevance for internal users. The role of management accountants includes bookkeeping, directing attention, and decision making. An effective management control system includes planning, feedback, and control. Management accountants must have competence in strategy, management, and accounting. Key themes in management include value chain analysis, customer satisfaction, continuous improvement, and considering both internal and external forces like costs, quality, and opportunities/threats.

    Descriere originală:

    cost accounting notes mcmaster

    Titlu original

    A600-1

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    © © All Rights Reserved

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    PDF, TXT sau citiți online pe Scribd

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    This document discusses management accounting. It explains that management accounting provides internal reporting to help with decision making, planning, and control, unlike financial accounting which provides external reporting. Some key differences between the two are that management accounting involves non-compliance, prospective information, and subjective relevance for internal users. The role of management accountants includes bookkeeping, directing attention, and decision making. An effective management control system includes planning, feedback, and control. Management accountants must have competence in strategy, management, and accounting. Key themes in management include value chain analysis, customer satisfaction, continuous improvement, and considering both internal and external forces like costs, quality, and opportunities/threats.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca PDF, TXT sau citiți online pe Scribd
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    23 vizualizări13 pagini

    Management Accounting

    Încărcat de

    moss roffatt
    This document discusses management accounting. It explains that management accounting provides internal reporting to help with decision making, planning, and control, unlike financial accounting which provides external reporting. Some key differences between the two are that management accounting involves non-compliance, prospective information, and subjective relevance for internal users. The role of management accountants includes bookkeeping, directing attention, and decision making. An effective management control system includes planning, feedback, and control. Management accountants must have competence in strategy, management, and accounting. Key themes in management include value chain analysis, customer satisfaction, continuous improvement, and considering both internal and external forces like costs, quality, and opportunities/threats.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca PDF, TXT sau citiți online pe Scribd
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    din 13

    Management Accounting

    Introduction

    Overview

    Objective of Financial Accounting


    Objective of Management Accounting
    Differences Between Financial and
    Management Accounting
    Role and Competence of Management
    Accountants
    Management Control System
    Key Themes in Management Approach

    Objective of Financial Accounting

    Provide information for external users

    Objective of Management Accounting

    Provide information for internal users

    Differences between
    Financial and Management Accounting
    Financial Accounting
    External reporting/users
    Compliance with
    regulation
    Historical financial
    information
    Delayed & infrequent
    Objective & reliable

    Management Accounting
    Internal reporting/users
    Non-Compliance with
    regulation
    Prospective financial and nonfinancial information
    Timely & as demanded
    Subjective & relevant

    Role of Management Accountants

    Scorekeeping (Bookkeeping)
    Attention Directing
    Decision Making

    Management Control System


    Planning

    Feedback

    Control

    Competence of
    Management Accountant
    Strategy

    Management

    Accounting
    8

    Key Themes in
    Management Approach
    Total
    Value Chain
    Analysis

    Key Success
    Factors
    Customer
    Satisfaction
    is Priority ONE
    Dual
    Internal/External
    Focus

    Continuous
    Improvement
    9

    Value Chain Analysis


    Value chain is the sequence of business functions in
    which customer usefulness is added to products or
    services.

    R&D

    Design

    Production

    Marketing

    Distribution

    Customer
    Service

    Strive for Continuous Improvement for long-term


    sustainability.
    10

    Key Success Factors

    Cost and Efficiency


    Quality
    Time
    Innovation

    11

    Dual Internal/External Forces

    External Forces

    Porters Five Forces


    Opportunities and Threats

    Internal Forces

    Strengths and Weaknesses

    12

    Porters Generic Strategies

    Cost Leadership

    Product Differentiation

    13

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