...Other Financial Management Techniques The President of EEC has decided to adopt the balanced scorecard. The balanced scorecard translates an organization’s mission and strategy into operational objectives and performance measures for four different perspectives. The President would like for the managerial accounting team to continue research and explain how to use a balanced scorecard to measure unethical behavior with EEC. First as the team is going to obtain research in how to transition to a balanced scorecard let us review the first part of the research, as well. Definition of a Balanced Scorecard The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. It was originated by Drs. Robert Kaplan (Harvard Business School) and David Norton as a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to give managers and executives a more 'balanced' view of organizational performance (Balance Scorecard Institute). Any measurement system should be developed by the mission, goals, and objectives of the organization, in this case we are analyzing EEC (MUSE, 2010). After defining a balanced scorecard it has an integrated...
Words: 1463 - Pages: 6
...ACCOUNTING 5130 SPRING 2016 (8 WEEK) SYLLABUS AND COURSE OUTLINE INSTRUCTOR: Peggy Jimenez, PhD, CPA OFFICE: BLB 329L EMAIL: Peggy.Jimenez@unt.edu (do not email me via Blackboard). I generally respond to student e-mails within 24 hours Monday-Friday. PHONE: 940-369-3093 OFFICE HOURS: Mondays 10:30am-12:00PM and by appointment. During these times I will be in my office and you are welcome to stop by with questions or concerns. If it is more convenient, I can also discuss via e-mail, online chat, or telephone during these times; please arrange alternative meetings in advance. If you would like to meet but cannot make it to office hours please e-mail me to arrange an appointment. REQUIRED MATERIALS: Managerial Accounting by Hilton. 10th Edition. Published by McGraw Hill. McGraw-Hill Connect Accounting (Hereafter Connect; needed to complete homework, quizzes, and midterm exams; purchased online at Connect site or obtained with purchase of a new textbook) You can purchase a textbook in the UNT bookstore, rent a textbook, purchase a used book through some other source, or purchase an eText or loose leaf version of the book on the Connect website Here is the Connect accounting site for our course: http://connect.mheducation.com/class/p-jimenez-acct5130_spring2016 COURSE PREREQUISITE: ACCT 5020, ECON 5000, DSCI 5010. MATH 1190 or MATH 1400 or MATH 1710. This course cannot be taken for credit by students seeking a BS or MS in accounting. CATALOG DESCRIPTION: Designed...
Words: 2292 - Pages: 10
...Chapter 1 Managerial Accounting and the Business Environment Lecture Notes Chapter theme: This chapter serves four main purposes. First, it explains the differences and similarities between financial and managerial accounting. Second, it describes the role of management accountants in an organization. Third, it explains the basic concepts underlying Lean Production, the Theory of Constraints (TOC), and Six Sigma. Fourth, it discusses the importance of upholding ethical standards. I. Globalization A. Import/Export Data i. Imports into the United States (in billions) 1. The data reveal an enormous increase in import activity from 1990 to 2004. In particular, imports from Canada, Mexico, and China skyrocketed. ii. Exports from the United States (in billions) 1. The data reveal an increase in exports to Canada and Mexico. Interestingly, the increase in exports to China pales in comparison to the growth rate in imports from China. iii. Internet Usage 1. The internet fuels globalization by providing companies with greater access to geographically dispersed customers, employees, and suppliers. 2. The number of internet users more than doubled during the first four years of the new millennium. 3. As of 2004, more than 87% of the world’s population was still not connected to the Internet...
Words: 2917 - Pages: 12
...TEXAS WOMAN’S UNIVERSITY SYLLABUS (v. 2014 02 05) Semester: Spring 2 | Year: 2014 | Course Prefix: BUS | Course Number: 5433.62 | Course Title: Managerial Accounting | Course Description and Overview:The success of all business organizations requires the use of accounting concepts and practices. Accounting provides key data to managers for planning and controlling as well as for costing products, services and customers. In order to be an effective manager, one must understand the basics of both financial and managerial accounting. This course is designed to help the manager better understand the basics of financial statements and how managers use accounting data to plan, control and make decisions.Per TWU Graduate Catalog 2012-2014: Use of accounting information in decision-making; statement of changes in financial position; budgets, responsibility accounting, and quantitative techniques. Three lecture hours a week. Credit: Three hours. http://www.twu.edu/gradschool/graduate-catalog.aspSee TWU Web Advisor for officially published Location and Dates for this course: Click on the "Class Schedules" link found at the TWU Home page. Then at the bottom click on “Search for Classes”. Then enter the identification information for this class. Click “Submit”. Official Location & Meeting dates are found printed in Red Ink there. | ------------------------------------------------- Meets Core Curriculum Requirements Faculty Contact...
Words: 4007 - Pages: 17
...Management Accounting & Control Systems 4th Edition, by Allen, Brownlee, Haskins and Lynch, Pearson-Prentice Hall, ISBN #0-13-570425-1 Freakonomics: A Rouge Economist Explores the Hidden Side of Everything, by Steven D. Levitt and Stephen J. Dubner, Harper Collins, ISBN#0-06-073132-X ✓ University Communication with Students All email communication from the University is sent to the student’s wsu.edu address. Please be sure that you have set up the link to forward your personal email address (aol, hotmail, etc.) or you will miss announcements and information that is very important to you. This is the email I use to contact you regarding class matters. If you change your email address, be sure to update again. ✓ Catalog Course Description with Prerequisitites 3credits: Managerial evaluation of budgeting, cost accounting, and financial analysis techniques; their utilization in control of operations. (pre-requisite acctg 550 or equivalent). Please note that pre-requisites are strictly enforced and that students will be disenrolled if they do not have course pre-requisites). ✓ Instructor Course Objectives Knowledge and Skill Expectations: Students should have the knowledge and skill level to record economic events, read and analyze financial information through the topic areas covered in Acctg 550. Overview of Course Purpose: This course will integrate fundamental cost accounting topics with strategic analysis to demonstrate how accounting information...
Words: 3504 - Pages: 15
...Course Outline School: Department: Course Title: Course Code: Course Hours/Credits: Prerequisites: Co-requisites: Eligible for Prior Learning, Assessment and Recognition: Originated by: Creation Date: Revised by: Revision Date: Current Semester: Approved by: Business Graduate Studies Accounting for Managerial Decision Making ACCT 701 56 N/A N/A Yes Basil Chan, John Harris Summer 2013 Geoffrey Prince Summer 2014 Winter 2015 Chairperson/Dean Students are expected to review and understand all areas of the course outline. Retain this course outline for future transfer credit applications. A fee may be charged for additional copies. This course outline is available in alternative formats upon request. ACCT 701 CENTENNIAL COLLEGE Accounting for Managerial Decision Making Course Description This course will introduce the student to the principles of management accounting. Topics include costvolume-profit relationships, relevant costing, performance measurement, and the application of management accounting concepts and techniques to support business decision making. Program Outcomes Successful completion of this and other courses in the program culminates in the achievement of the Vocational Learning Outcomes (program outcomes) set by the Ministry of Training, Colleges and Universities in the Program Standard. The VLOs express the learning a student must reliably demonstrate before graduation. To ensure a meaningful learning experience and to better understand...
Words: 2727 - Pages: 11
...origin of accounting, as well as, the distinction between bookkeeping and accounting. Additionally, an examination of the Financial Accounting Standards Board (FASB) provides insight into the culture, ethical values and professional standards of accountants. Other areas of discussion in this report are the voice and tone used in various forms of communication by the accountant. Also, included in this report is an excerpt from an interview of an accounting professional as well as an example from a journal article. These artifacts will provide the reader with examples of the mind-set and communication style of the accountant. Finally, this report concludes with an examination of the auditor’s as well as the forensic accountant’s culture and communication style. Table of Contents Contents Abstract 2 Table of Contents 3 Accounting has been around for centuries.. 4 Professional Standards and Ethics 4 Culture of Professional Standards 5 Language of Business 6 Voice and Tone 6 Specialized Areas of Accounting 7 Communication 8 Forensic Accounting 8 Communication 9 Conclusion 9 References 11 Appendix A 13 Appendix B 16 The Language and Culture of the Accountant, Auditor and Forensic Accountant Accounting has been around for centuries. History credits an unnamed Arab merchant for creating the first written work in the twelfth century which documented an accurate method of bookkeeping (Maughan, n.d.). Since then, the practice of accounting has permeated...
Words: 3164 - Pages: 13
...Coca Cola was created by Pharmacist Dr. John Styth Pemberton. He developed the formula for the famous soft drink in his backyard on May 8, 1886. Dr. Pemberton’s bookkeeper, Frank Robinson, came up with the idea for the unique cursive logo that has Coke is a company of enduring strength. They have been privileged to play a role in helping millions of people over the world be well and stay well through more than a century of change. As the science of human health and well-being has grown, they have been able to grow along with it. Even more important, they helped shape and define what health and well-being means in every day lives. Their products, services, ideas, and giving now touch the lives of at least one billion people everyday. “We credit our strength and endurance to a consistent approach to managing our business, and to the character of our people. We are guided in everything we do by Our Credo, a management document authored more than 60 years ago by Robert Wood Johnson, former chairman from 1932 to 1963, and by four strategic principles” (Johnson & Johnson, 2008). Coke focus on the fundamentals of their business, and manage with future generations in mind. While they keep their eye on social and scientific trends, they make sure their companies balance the short-term and the long-term in their planning. They invest in promising new businesses while maintaining leadership positions in high growth businesses. They are focused on sustainability, and constantly...
Words: 2088 - Pages: 9
...The University of Texas at Arlington – Department of Accounting Course Description: Introduction to concepts, purposes, problems, methodology, and terminology of managerial accounting. Prerequisite: ACCT 5301 or equivalent. Course Objectives: 1. Discuss the nature of management accounting 2. Explain the basic concepts of management accounting 3. Explain the basics of managerial cost analysis 4. Identify and discuss “real world” implications of management accounting information 5. Work in groups. Objectives 1, 2 and 3 will be assessed through successful completion of homework and two exams. Objectives 4 and 5 will be assessed through an evaluation of class participation. Class Policies: The class policies on attendance, grades, and withdrawals will follow the rules and regulations set forth in the current UTA graduate catalog. Students are expected to behave in a professional manner. The instructor reserves the right to dismiss anyone from the class who is violating the right of the other students to receive the full benefit of the class instruction. Attendance and participation in class discussions of the material are important aspects of the course. You must participate in classroom discussions to receive credit for class participation. A sign-in sheet will be passed around during each class period. This is the only record of...
Words: 2895 - Pages: 12
...this report is a proposal to implement managerial decisions that could enable Triton Corporation to cut costs and improve on its returns. Initially Triton Corporation went into a recession but has recently emerged as a well performing company to realize the recent $15.2 million in 2014. Having a six operating divisions, Triton Corporation management have to craft decisions that will in the future ensure better performance. Organizations in the contemporary business environment have been faced with challenges pertaining to allocation of resources that are inevitably scarce. As a rationale, any business is in place to create value for the shareholders and also be in a position to comply with the going concern principle of sustainability. This company has therefore enlisted the services of an MBA intern like me to help in formulation of strategies that could steer forward the operations ensuring the past occurrences of a recession are not a repeat. The three major tasks ahead of me is to ensure proper planning of the manufacturing processes to make sure that little waste of resources is realized and secondly, come up with processes and activities that provide high value addition. The application of managerial accounting strategies in any environment are aimed at providing proper planning in all departments to ensure that decisions are well formulated and the organizational resources are utilized to the optimal. Besides, managerial accounting techniques will be sought by financial...
Words: 4268 - Pages: 18
...Chapter 1 Managerial Accounting and the Business Environment Solutions to Questions 1-1 Managerial accounting is concerned with providing information to managers for use within the organization. Financial accounting is concerned with providing information to stockholders, creditors, and others outside of the organization. 1-2 A strategy is a game plan that enables a company to attract customers by distinguishing itself from competitors. The focal point of a company’s strategy should be its target customers. 1-3 Customer value propositions fall into three broad categories—customer intimacy, operational excellence, and product leadership. A company with a customer intimacy strategy attempts to better understand and respond to its customers’ individual needs than its competitors. A company that adopts an operational excellence strategy attempts to deliver products faster, more conveniently, and at a lower price than its competitors. A company that has a product leadership strategy attempts to offer higher quality products than its competitors. 1-4 Managers carry out three major activities in an organization: planning, directing and motivating, and controlling. Planning involves establishing a basic strategy, selecting a course of action, and specifying how the action will be implemented. Directing and motivating involves mobilizing people to carry out plans and run routine operations. Controlling involves ensuring that the plan is actually carried out and is appropriately...
Words: 4222 - Pages: 17
...Syllabus-MBA (Hospital Administration) PAPER – I: BASIC CONCEPT OF HEALTH -Code MHA 101 Concept of Health and Disease • Concept of health & disease and well being. • Natural history of disease and role of hospitals to offer various levels of care • Prevention aspect of diseases • Dynamics of disease transmission • Changing pattern of diseases • Concept of health indicators Preliminary Human anatomy and Physiology • Basic concepts of human anatomy • Basic concepts of human physiology Suggested Reading: Human Anatomy- Prof. Samar Mitra Human Anatomy- Prof. A. K. Dutta Text Book of Human Physiology- Dr. C. C. Chatterjee Common Pathological Conditions • Basic concepts of pathogenesis of common diseases • Basic concepts of interpretation of investigations reports Suggested Reading: Robbin’s Textbook of Pathology – Robbin, Cotran, Kumar Textbook of Microbiology – Ananantanarayan & Paniker Basic concepts of Pharmacology: Commonly used Medicine in a hospital, Narcotic drugs, use and abuse of drugs. Dispensing of medicine, Drugs store, drug stock / purchase of medicine, oxygen, I/V Fluid, Chemicals etc. Suggested Reading: Textbook of Pharmacology: Dr. K. D. Tripathi PAPER – 2: Hospital Based Healthcare & Its changing scenario-Code MHA 102 Overview of Hospital • Concept of Modern Hospital & Privatization in Health Sector • Public Sector Hospitals and Level of care / offered facilities ...
Words: 3303 - Pages: 14
...Introduction to Managerial Accounting The course meets in Pellegrino Hall, Room 114, from 10:30 to 11:20 A.M. each Monday, Wednesday, and Friday . The first class meeting is on January 23, 2012. Credit hours: 3. Instructor: Jui-Chin Chang, Ph.D., CMA, CFM, Assistant Professor Office Hours: WHTC- 218B (956) 326-2501 Monday 11:30AM-12: 30 PM& 1:30 – 3:00 PM Wednesday 11:30AM-12: 30 PM &1:30 – 3:00 PM Friday 11:30AM-12: 30 PM E-mail: E-Learning (Angel): www.tamiu.edu/elearning/?id=2 Required Text: Introduction to Managerial Accounting (6th Ed) with Connect (Loose Leaf), P. Brewer, R. Garrison, & E. Noreen, McGraw-Hill/ ISBN: 9780078005305. Recommended: Wall Street Journal and BusinessWeek Prerequisite: ACC2301 with a grade “C” or better Course Description: This course will demonstrate the flexibility of the use of managerial accounting information to supply managers and other internal stakeholders for business decision-making. Upon completion of this course, students should possess a basic working knowledge and understanding of the accounting information systems used to provide information to internal stakeholders. The course gives students opportunities to prepare and analyze business transactions, prepare budgets, journal entries and financial statements. Course Goals: This course provides students with both an opportunity to learn accounting rules and to...
Words: 3087 - Pages: 13
...Companies Ordinance 1984 which address the rules for the corporate governance and regulations of companies. All Banks of Pakistan regulated by the ordinance which is known as banking company ordinance Of Pakistan (BCO). This ordinance was issued in 1962 by State Bank of Pakistan (SBP). The primary object of code issued by SECP is to create a structure where by an organization controlled & directed by board of directors in consent with best practices and safeguard the interests of stakeholders. It is first big step for the restructuring of the board of director’s to recommend board-based structure by managerial, non-managerial directors and shareholders. Securities and Exchange Commission of Pakistan took action to authorize the Pakistan Institute of Corporate Governance (PICG) in public private partnership in...
Words: 2104 - Pages: 9
...his report is an important input for taking important decision , hence he needs to be ethical so that company can take true and fair decision . Auditor play a vital role in effecting corporate governance . Role of auditor : In financial accounting, an audit is categorized by the independent assessment of the justice by which a company's financial statements are prepared and presented to and by its management. This task is mainly performed by the skilled, competent, independent and objective persons, known as accountants or auditors. Auditors are on the whole very knowledgeable with every aspect of auditing and they in turn issue a report known as auditor’s report. There are mainly two types of auditors: External Auditors: These auditors are called from outside the company to access and evaluate financial statements of their clients or to perform necessary evaluation than required. They are mostly employed for a period of 1 year. Internal Auditors: These are the company hired employees to access and evaluate the internal control required by the company. They report directly to BOD’s or the top management. They are responsible to have a through view related to the frauds and mishappenings that exists in a company. An auditor conducts an examination of financial...
Words: 1521 - Pages: 7
