Documente Academic
Documente Profesional
Documente Cultură
An Overview
Chapter 1
PowerPoint Authors:
Susan Coomer Galbreath, Ph.D., CPA
Charles W. Caldwell, D.B.A., CMA
Jon A. Booker, Ph.D., CPA, CIA
Cynthia J. Rooney, Ph.D., CPA
Copyright2012byTheMcGrawHillCompanies,Inc.Allrightsreserved.
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Work of Management
Planning
Planning
Controlling
Controlling
Decision
Decision
Making
Making
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Planning
Establish
Establish Goals.
Goals.
Specify
Specify How
How Goals
Goals
Will
Will Be
Be Achieved.
Achieved.
Develop
Develop Budgets.
Budgets.
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Controlling
The
The control
control function
function gathers
gathers feedback
feedback to
to
ensure
ensure that
that plans
plans are
are being
being followed.
followed.
Feedback
Feedback in
in the
the form
form of
of performance
performance reports
reports
that
that compare
compare actual
actual results
results with
with the
the budget
budget
are
are an
an essential
essential part
part of
of the
the control
control function.
function.
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Decision Making
Decision making
making involves
involves
making
making aa selection
selection among
competing
competing alternatives.
alternatives.
What
What should
should
we
we be
be selling?
selling?
Who
Who should
should
we
we be
be serving?
serving?
How
How should
should
we
we execute?
execute?
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Accounting Majors
Many accounting graduates
begin working for public
accounting firms. However,
most leave at some point to
work in other organizations.
80%
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CMA Exam
Part 1 Financial Planning, Performance and Control
Planning, budgeting, and forecasting
Performance management
Cost management
Internal controls
Professional ethics
Part 2 Financial Decision Making
Financial statement analysis
Corporate finance
Decision analysis and risk management
Investment decisions
Professional ethics
Information
Information about
about becoming
becoming aa CMA
CMA and
and the
the CMA
CMA program
program can
can be
be accessed
accessed
on
on the
the IMAs
IMAs website
website at
at www.imanet.org
www.imanet.org or
or by
by calling
calling 1-800-638-4427.
1-800-638-4427.
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Operational
Excellence
Strategy
Product
Leadership
Strategy
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Once
Once aa company
company identifies
identifies its risks, perhaps
perhaps the
most
most common
common risk
risk management
management tactic
tactic is
is to reduce
reduce
risks
risks by
by implementing
implementing specific
specific controls.
controls.
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Process Management
A business
process is a series of
steps that are followed in order to
carry out some task in
a business.
R&D
Product
Design
Customer
Manufacturing Marketing Distribution Service
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Lean Production
Customer places
an order
Create Production
Order
Generate component
requirements
Goods delivered
when needed
Production begins
as parts arrive
Components
are ordered
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Lean Production
Traditional Manufacturing
Produce goods in
anticipation of Sales
Store
Inventory
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Lean Production
Because lean thinking only allows production in
response to customer orders, the number of units
produced tends to equal the number of units sold.
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Theory of Constraints
A constraint (also called a bottleneck) is anything that
prevents you from getting more of what you want.
The Theory of Constraints (TOC) is based on the observation
that effectively managing the constraint is the key to success.
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Theory of Constraints
2. Allow the
weakest link to
set the tempo.
Only actions
that
strengthen the
weakest link in
the chain
improve the
process.
3. Focus on
improving
the weakest
link.
1. Identify the
weakest link.
4. Recognize that
the weakest link
is stronger.
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Measurement Skills
A good manager
complements an
understanding of
strategy, risks, and
business processes with
data-driven analysis.
The key to effective analysis is to understand that
the question you are addressing defines what you
measure and how you analyze the data.
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Measurement Skills
What
What net
net income
income should
should my
my company
company report
report
to
to its
its stockholders?
stockholders?
Measure
Measure and
and report
report historical
historical data
data that
that
complies
complies with
with applicable
applicable rules.
rules.
How
How will
will my
my company
company serve
serve its
its customers?
customers?
Measure
Measure and
and analyze
analyze mostly
mostly non-financial,
non-financial,
process-oriented
process-oriented data.
data.
Will
Will my
my company
company need
need to
to borrow
borrow money?
money?
Measure
Measure and
and analyze
analyze estimated
estimated future
future cash
cash
flows.
flows.
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Measurement Skills
The primary purpose
of this course is to
teach measurement
skills that managers
use to support
planning, controlling,
and decision making
activities.
Planning
Planning
Controlling
Controlling
Decision
Decision
Making
Making
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Leadership Skills
Six Skills of an Effective Leader
1. Technical competence
2. High integrity
3. Understand how to implement organizational
change
4. Strong communication skills
5. Capable of motivating and mentoring other
people
6. Effectively manage team-based decision
processes
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Maintain
Maintain
professional
professional
competence.
competence.
Competence
Follow
Follow applicable
applicable
laws,
laws, regulations
regulations
and
and standards.
standards.
Provide
Provide accurate,
accurate, clear,
clear,
concise,
concise, and
and timely
timely decision
decision
support
support information.
information.
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Confidentiality
Confidentiality
Ensure
Ensure that
that subordinates
subordinates do
do
not
not disclose
disclose confidential
confidential
information.
information.
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Integrity
Abstain
Abstain from
from activities
activities that
that
might
might discredit
discredit the
the
profession.
profession.
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Credibility
Credibility
Disclose
Disclose all
all relevant
relevant
information
information that
that could
could
influence
influence aa users
users
understanding
understanding of
of reports
reports
and
and recommendations.
recommendations.
Disclose
Disclose delays
delays or
or
deficiencies
deficiencies in
in information
information
timeliness,
timeliness, processing,
processing, or
or
internal
internal controls.
controls.
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Customers
Employees
Suppliers
Communities
Stockholders
Environmental
& Human Rights
Advocates
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