...MANAGEMENT ACCOUNTING: AN OVERVIEW Learning Objectives Distinguish between managerial & financial accounting. Understand the evolution of management accounting. Explain about the IFAC model. Understand how managers can use accounting information to implement strategies. Explain about Relevant Lost & Relevant Regained. 2 Learning Objectives Distinguish between managerial & financial accounting. Understand the evolution of management accounting. Explain about the IFAC model. Understand how managers can use accounting information to implement strategies. Explain about Relevant Lost & Relevant Regained. 3 Accounting System (accumulates financial and managerial accounting data) Managerial Accounting Information for decision making, and control of an organization’s operations. Internal Users Financial Accounting Published financial statements and other financial reports. External Users Managerial Accounting Users of information Managers within company Regulation Financial Accounting Interested outside parties Required. Must comform to Not required because for internal GAAP which is regulated by use only FASB and SEC. Basic accounting system plus Almost exclusively from the Source of Data various other sources basic accounting system Reports often focus on subunits. Reports focus on the enterprise Nature of Reports Based on a combination of in its entirety. Based on and...
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...AN EMPIRICAL INVESTIGATION OF THE EVOLUTION OF MANAGEMENT ACCOUNTING PRACTICES by Magdy Abdel-Kader University of Essex and Robert Luther University of Bristol WP No. 04/06 October 2004 Address for correspondence: Magdy Abdel-Kader Department of Accounting, Finance and Management University of Essex Colchester Essex CO4 3SQ UK E-mail: mabdel@essex.ac.uk 1 An Empirical Investigation of the Evolution of Management Accounting Practices Magdy Abdel-Kadera and Robert Lutherb a: Department of Accounting, Finance and Management, University of Essex, Wivenhoe Park, Colchester, CO4 3SQ (Correspondence address) b: Bristol Business School, U.W.E., Bristol, BS16 1QY The authors are grateful for the constructive comments of participants at the EIASM conference on New Directions in Management Accounting: Innovations in Practice and Research, December 2002, Brussels. Financial support from the Chartered Institute of Management Accountants is acknowledged with gratitude. 2 An Empirical Investigation of the Evolution of Management Accounting Practices Abstract This paper investigates and reports on the status of management accounting practices in UK industry. The analysis operationalises the IFAC statement on Management Accounting Concepts and its description of the evolution of management accounting. The results, based on responses from 123 practising management accountants, suggest that the management accounting employed in many UK industrial companies is...
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...Seminar in Accounting Theory ADM4342A Fall 2013 |Professor |Kathryn Pedwell, Ph.D. | |Office |DMS 7159 | |Telephone |613-562-5800 Ext. 4766 | |E-Mail |Pedwell@telfer.uottawa.ca | |Office Hours |Tuesday 3:00 – 4:00 p.m. or By appointment | |Class Location |DMS 4130 | |Class Hours |Tuesday: 1:00 – 2:30 | | |Thursday: 11:30 – 1:00 | |Prerequisite(s) | | |Program of Study |BCom mandatory course | |Course Deliverable |Due Date |Weight on Final Grade | |Accounting Assignment |Oct. 3 |15% | |Midterm exam |Oct. 8 ...
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...Business Research Report FASB: The Next Turn in the Road Table of Contents Executive Summary 3 Introduction 4 Research Findings 4 FASB Foundation and History……………………………………………………………………4 Impact of the New Code and Globalization………………………………………………………5 Feelings About the New Normal………………………………………………………………….7 Recommendations………………………………………………………………………8 Conclusion 8 References………………………………………………………………………………10 Executive Summary The financial crash of 1929 and the subsequent depression of the 1930’s created the desire an need for the formation of a set of standards for financial reporting and began the evolution toward present day FASB rulings. From the first set of standards it became obvious that this would not be able to be handled informally and by 1972 the FASB was formed so as to be the go to, non-governmental source for all regulations in the accounting industry. However, the formation of this body did not end the evolution or creation of regulations as they continue in the attempt to improve the transparencies of financial reports. This has, in turn, led to a rules oriented mindset that creates far more paperwork than is typically deemed necessary and creates the possibility for confusion and muddies the water. Therefore, many thought that the mission was failing and clarification of information was no longer occurring. For this reason FASB instated its codification clarification database in 2009 with the intention of...
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...an American accounting academic, and a Professor of Accounting at Carnegie-Mellon University and Arthur Lowes Dickinson Professor of Accounting at the Harvard Business School. He had wrote a journal entitled “The Evolution of Management Accounting” in 1983. The purpose of this article is to summarize the development of management accounting, including the new demands for management information, and to develop a research strategy to meet these demands i) THE EVOLUTION OF MANAGEMENT ACCOUNTING (From Robert S. Kaplan point of view) In his paperwork, he divided it into five sections. • Section 1 - Development of cost accounting practices from the early textile mills and railroads (circa 1850) through the formation of the great industrial enterprises in the U.S. and the emergence of the scientific management approach. • Section 2 - Management control innovations of the DuPont Corporation and the General Motors Corporation after its reorganization by Pierre du Pont and Alfred Sloan in 1920. • Section 3 - Development in cost accounting and managerial control form 1925 to the present. • Section 4 - Challenges from the contemporary environment that may not be met by the accounting practices developed more than 60 years ago for a substantially different competitive situation. • Section 5 - Agenda for field based research to document or develop innovative management control practices appropriate for the changing industrial environment. ii) A SUMMARY OF HISTORICAL...
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...Instructor’s Manual Enterprise Resource Planning, 1/E CHAPTER 1: A FOUNDATION FOR UNDERSTANDING ENTERPRISE RESOURCE PLANNING SYSTEMS CHAPTER OBJECTIVES 1. Develop an understanding of how ERP systems can improve the effectiveness of information systems in organizations. 2. Understand the business benefits of enterprise resource planning (ERP) systems. 3. Understand the history and evolution of ERP. CHAPTER OUTLINE 1. A Foundation for Understanding Enterprise Resource Planning Systems a. The Emergence of Enterprise Resource Planning Systems 1. What is ERP? 2. The Evolution of ERP 3. The Integrated Systems Approach b. Business Benefits of ERP c. ERP Modules d. ERP Design Alternatives e. The Business Case for ERP 1. Cost-Benefit Analysis for ERP 2. Can ERP Provide a Competitive Advantage? f. The Challenge of Implementing an ERP System g. Summary ANSWERS TO END-OF-CHAPTER QUESTIONS Questions for Discussion: 1. Use on-line library databases to identify articles in trade publications which provide case studies of ERP implementations. These articles may provide some insight into each of these questions. a. How widespread is the use of ERP across certain industries? b. What are the benefits reported from implementing ERP? c. What are its limitations? 2. Research and learn about the implementation of ERP. Use trade publications and on-line library databases (e.g. ABI Inform, ProQuest, First Search, Wilson Select Plus, available through...
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...Management Information Systems 13e KENNETH C. LAUDON AND JANE P. LAUDON CHAPTER 9 ACHIEVING OPERATIONAL EXCELLENCE AND CUSTOMER INTIMACY: ENTERPRISE SYSTEMS Evolution Homecare Manages Patients with Microsoft Dynamics CRM CASE 2 VIDEO CASE Systems SUMMARY: Evolution Homecare used Microsoft Dynamics CRM to improve delivery of its home health services. Benefits have included productivity improvements, enhanced inventory management, better resource planning, and more effective reporting. L= 5:14 URL http://www.youtube.com/watch?v=JgCz9tfcXV0 CASE For people with serious illnesses, many procedures must be performed in medical facilities like hospitals and skilled nursing homes. But it is also possible to deliver medical-related services in a home setting using a home health-care service. In most cases, it is much more economical to be treated at home, and recent studies show that patients receiving healthcare services who are surrounded by their family and friends make faster progress. Home health care may include skilled nursing in addition to speech, occupational and physical therapy. It also includes monitoring the patient’s prescriptions and sometimes assistance with household chores. In the United Kingdom, Evolution Homecare is a leading provider of home health-care services, with special expertise in the supply and administration of critical medicines to patients in their homes. Evolution Homecare is part of the Celesio Group, which is one of the leading...
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...AYB200 Financial Accounting SUMMER SCHOOL 2015 BUSINESS REPORT Content Executive summary Introduction Background and achievement Recent trends and approach taken by South Africa Analysis of implication and impediments of <IR> and a position statement Executive Summary The purpose of this report is to provide a concise background on the objective and technical development of Integrated Reporting and key achievement to date, a summary of recent trends in adoption of Integrated Reporting which including the approach taken by South Africa, an analysis of any implications and impediments of Integrated Reporting and a positon statement of how these might affect adoption in Australia. Introduction Integrated Reporting is a process in which the value creation of a periodic integrated thinking, in a periodic report, is created by the value creation of the periodic report of the value creation (Adams & Simnett, 2011). The organization uses the integrated report to convey a clear, concise, and complete story, stating that all of their resources are of value creation. Integrated Reporting is to help companies carefully consider their strategies and plans to make informed decisions and management of key risks, to establish the confidence of investors and stakeholders and improve future performance (INTEGRATED REPORTING<IR>, 2015). This is a diverse alliance, including the evolution of business leaders and investors to promote the global business report...
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...ABSTRACT AN AUTOMATED HOSTELS AND ROOMS ALLOCATION SYSTEM (CASE STUDY OF YABA COLLEGE OF TECHNOLOGY) This Project work intends to address some of the problems encountered in the allocation of hostels and rooms to students manually in Yaba College of Technology. The growing number of students in higher institutions posed a lot of accommodation problems on the part of students and School Management. Some of the problem caused includes, few hostels that exist in the College are not properly managed, Statistic of rooms required to match the growing numbers of students are farfetched, Student pays fee for hostel and may end up not getting rooms because of lack of bed space, Hostel administrators cannot give accurate information of the occupancy of a particular room. In respect to all these existing problems, a system will be designed to manage a database for allocating hostel and room to student. The system designed will keep track of all the available rooms, their occupants and funds generated from hostel fees. The New system will be implemented using Visual Basic 6.0 and Ms Access Database. CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY In 1912, in Altena Castle in Germany, Richard Schirrmann created the first permanent Jugendherberge or "Youth Hostel". These first Youth Hostels were an exponent of the ideology of the German Youth Movement to let poor city youngsters breathe fresh air outdoors. The youths were supposed to manage the hostel...
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...Enterprise resource planning in the global marketplace, advantages and limitations Name: Michael Yin Course: OPM-5050 Professor: R. Levary Abstract Enterprise Resource Planning (ERP) is one of the major issues the modern-day entrepreneurial world. This paper discusses ERP in details and extensively. The paper introduces ERP by giving background information, discusses the evolution of ERP systems, analyses the advantages and limitations of ERP systems, and concludes by giving a summary of the important aspects of ERP discussed. Enterprise resource planning in the global marketplace, advantages and limitations Introduction The entrepreneurial scene and global market have become more vibrant in the recent years, and for this reason, there have been debates and concerns on how enterprises and companies should enhance their competitiveness and agility. The greatest concern in the business world is profitability, and in accomplishing this, enterprises have put in place strategies and measures that gradually help make strides towards the desired direction. Another primary focus of enterprises is to see an improvement of their business agility and to accomplish this, enhancements have been made including efficiency of production, product and service quality, as well as response time to consumers. A fundamental aspect of the accomplishment of the mentioned enhancements and objectives is information technology. As much as its installation and implementation in enterprises is costly...
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...Head: Introduction to Accounting 1 Introduction to Accounting Jesse Vitkow ACC/280 1/18/2012 Maria Aurora Makalintal – Torio The public be damned; I am working for my stockholders William Vanderbilt The beginning of accounting can be attributed to a time period of the Renaissance. In the late 1400’s, Italy was a dominating factor when it came to commerce and mainly distribution. In order for the market to stay a float and prosper, mathematicians were called upon to see that all transactions be notarized; and this is when a man by the name of Luca Pacioli came about. In his 1494 text Summa de Arithmetica, Geometria, Proportione et Proportionalite, Pacioli described a system to ensure that financial information was recorded efficiently and accurately. It was central to the success of Italian merchants, necessary to the birth of Running Head: Introduction to Accounting 2 the Renaissance. Industrial Revolution firms required accountants to provide the information necessary to avoid bankruptcy and their role developed into a profession. (Weygandt, Jerry J., Financial Accounting 6e, (Ch.1) copyright © 2008 John Wiley & Sons, Inc .) Centuries later, the United States of America was born and still in the early stages of commerce. By the 1970s and 80s, American production management and cost accounting seemed obsolete. American...
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...current views being expressed. Potential risks and uncertainties include factors such as general economic conditions, availability and prices of commodities, competitive products and pricing pressures and regulatory developments etc. Responses can only be given to questions, which are not price sensitive. Financial Analysts Meet, Nov 29, 2006 Introduction & CSR Financial Analysts Meet, Nov 29, 2006 An example of CSR Nestlé Milk District Model 45 years of a progressive partnership with farmers FINANCIAL ANALYSTS MEET 29.11.06 Financial Analysts Meet, Nov 29, 2006 AN EXAMPLE OF CSR : NESTLE milk district model 1 2 3 4 5 6 Nestlé – An Overview Evolution of the Nestlé Milk Districts Nestlé in India Nestlé Milk Districts & Rural Growth Concerns for the Environment and the Community Summary and Conclusions Financial Analysts Meet, Nov 29, 2006 1 Nestlé – An Overview Nestlé – The World Food Company Henri Nestlé. Born in 1814. Trained to be a pharmacist. Created the first milk and cereal based infant food Farine Lactée Henri Nestlé Founded the Company in 1867 Nestlé grew from a small company producing powdered milk and cereal products for infants into a global food company feeding much of the world’s population Nutrition and Wellness are at the core of Nestlé’s products and manufacturing. Financial...
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...CHAPTER 1 THE CHANGING ROLE OF MANAGERIAL ACCOUNTING IN A DYNAMIC BUSINESS ENVIRONMENT Learning Objectives 1. Define managerial accounting and describe its role in the management process. 2. Explain four fundamental management processes that help organizations attain their goals. 3. List and describe five objectives of managerial accounting activity. 4. Explain the major differences between managerial and financial accounting. 5. Explain where managerial accountants are located in an organization, in terms of formal organization, deployment in cross-functional teams, and physical location. 6. Describe the roles of an organization's chief financial officer (CFO) or controller, treasurer, and internal auditor. 7. Briefly describe some of the major contemporary themes in managerial accounting. 8. Understand and explain the concepts of strategic cost management and the value chain. 9. Understand the ethical responsibilities of a managerial accountant. 10. Discuss the professional organizations, certification process, and ethical standards in the field of managerial accounting. Chapter Overview I. The Management Process in Organizations A. What is managerial accounting? B. Management activities 1. Decision making 2. Planning 3. Directing operational activities 4. Controlling II. How Managerial Accounting Adds Value to the Organization A. Provides information...
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...AN INSTITUTIONALIST STUDY ON THE PERFORMANCE MANAGEMENT SYSTEM IN A GOVERNMENT- LINKED ORGANISATION NORHAYATI BINTI MOHD ALWI UNIVERSITI SAINS MALAYSIA 2009 AN INSTITUTIONALIST STUDY ON THE PERFORMANCE MANAGEMENT SYSTEM IN A GOVERNMENT-LINKED ORGANISATION by NORHAYATI BINTI MOHD ALWI Thesis submitted in fulfilment of the requirements for the degree of Doctor of Philosophy September 2009 ACKNOWLEDGEMENTS I am especially indebted to my supervisor, Dr. Siti Nabiha Abdul Khalid for her constant guidance, limitless support and patience throughout the period of my study. There is no way that I would be able to repay the kindness and caring that she has shown to me. I am thankful to Assoc. Professor Dr. Yuserrie, for giving valuable inputs to my study and also to others in the School of Management, who have helped me in some way or another. I would like to acknowledge the comments made by Professor Lee Parker and other participants of the Global Accounting and Organisational Change Conference, held in Melbourne, Australia in July 2008. A special thank you is also dedicated to Professor John Burns for the insightful comments on the research. I am also indebted to my employer International Islamic University Malaysia and the Ministry of Higher Education for providing the financial support. Thanks so much also to the respondents for their willingness to share some of their thoughts and experiences, which have made my data collection easier than I would ever...
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...IMPORTANT NOTE: The course is currently on hold and not accepting applications at this time. Please check back for future updates or contact your Center Training Office. BEP is designed to provide NASA leaders with a basic knowledge of business strategy, finance and alliance management and a familiarity with NASA’s business environment. Through a combination of lecture and hands-on instruction, participants are presented fundamental business concepts and the opportunity to apply these concepts to NASA related issues. Business School Professors provide the basic principles and other speakers apply these principles to NASA and the Government environment. Extensive use of case studies, group activities and the Class Project give participants an active learning experience. Schedule for BEP Register for Courses Instructions on How to Register Who Should Attend NASA employees and managers at all levels. Greater benefit is gained when an individual attends with one or more colleagues from their work unit, or employees from different organizational units who work together on a NASA Length of Course 5.5 days. The primary instructors are faculty from the Darden Business School at the University of Virginia. They assure that the Program's material is grounded in accepted business principles and that it is academically rigorous. To adapt business school material to the government, the Darden faculty is augmented with instructors from government organizations and with case studies...
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