Slides Notes
Managerial Accounting: process of identifying, measuring, analyzing, interpreting and communicating info.
Major activities of managers: planning, controlling, directing and motivating, decision making.

PLANNING: Identify alternatives-----select best-----develop budgets
Directing and Motivation * Employee work assignments * Routine problem solving * Conflict resolution * Effective communication * Controlling: * -ensure that plans are being followed. * -ie. Feedback between actual and budget is essential part of it. * * Strategy * -the focal point of a co’s strategy should be its target customers. * Customer Value propositions * Customer Intimacy Strategy * -understand and respond to customers needs * Operational Excellence Strategy * -deliver products and services faster, conveniently,lower price * Product Leadership Strategy * -higher quality goods * * Financial vs. Managerial Accounting * 1 users: external users vs. plan & control for internal use * 2 Time： Historical vs. Future * 3 objectivity and verifiability vs.relevance * 4 precision vs. timeliness * 5 subject companywide vs. segment * 6 rules GAAP/IFRS vs. not bound by any prescribed format * 7requirement mandatory for external reports vs. not mandatory * * Process Management * Four approach to improve * -lean production * -six sigma (rely on feedback and fact-based data) * -enterprise systems * -risk management * * Traditional Push Manufacturing Company * -estimate sales and order components, make sales from finished goods inventory * * Lean Production(JIT)(pull) * -customer place order and then create production order. * * CPA Ontario provides professional ethical