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ACG 3401 Study Guide Exam 1
Accountants Roles * Management accountant * Internal auditor * Information systems auditor * External auitor * Tax accountant * Fraud examiner * Managerial Accountant * Provides info for mngmt decisions * Knowledge base: * * * * Business processes * Accounting information sustems * Internal controls * Managerial accouting techniques * Impact of accounting on behaviors
Advocate for best info possible for making the best decision for the firm
IMA
Information criteria: 1. 2. 3. 4. Forward looking 5. Timely 6. Responsibility oriented
Planning Systems (budgets) control systems (implement the course of action and evaluate)
Management accounting answers questions related to : * * * * * Important customers ( profitability) * Substitute products * Critical capability * Funding ( growth)
Value ( Adam Smith) * Value in use- derive value by using the product * Value in exchange- derive value from the exchange of that product for another good or service.
Generic Value Chain Model: 1. 2. 3. 4. *Customer need identitified* 5. Identify the market and create the product/ service ( innovation cycle) 6. Build the product or service and deliver the product or service ( operations cycle) 7. Service the customer ( post sales service cycle) 8. * Customer need satisfied*
Value Chain: 1. 2. 3. 4. Research and development 5. Design of product or service 6. Production 7. Marketinh 8. Distribution 9. Customer service
Criticial success factors (CSF) Measures of those aspects of the firms performance essential to competitive advantage and succss
Financial and no financial
Depend on the

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