tailieunhanh - Lecture Managerial accounting - Chapter 1: Accounting as a tool for management
Chapter 1 - Accounting as a tool for management. After studying this chapter you will be able to understand: What is managerial accounting, different strategies different information, ethical considerations in managerial accounting. | CHAPTER © jsnyderdesign / iStockphoto 1 ACCOUNTING AS A TOOL FOR MANAGEMENT WHAT IS MANAGERIAL ACCOUNTING Unit 1 1 . Unit Unit © Tomwang112 / iStockphoto WHAT IS MANAGERIAL ACCOUNTING? The process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of financial information used by management to plan, evaluate, and control within an organization and to assure appropriate use of and accountability for its resources. Institute of Management Accountants, Statement on Management Accounting #1A, 1981 AGAIN I ASK, WHAT IS MANAGERIAL ACCOUNTING? A profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization’s strategy. Institute of Management Accountants, Statement on Management Accounting, Definition of Management Accounting, 2008 IN . | CHAPTER © jsnyderdesign / iStockphoto 1 ACCOUNTING AS A TOOL FOR MANAGEMENT WHAT IS MANAGERIAL ACCOUNTING Unit 1 1 . Unit Unit © Tomwang112 / iStockphoto WHAT IS MANAGERIAL ACCOUNTING? The process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of financial information used by management to plan, evaluate, and control within an organization and to assure appropriate use of and accountability for its resources. Institute of Management Accountants, Statement on Management Accounting #1A, 1981 AGAIN I ASK, WHAT IS MANAGERIAL ACCOUNTING? A profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization’s strategy. Institute of Management Accountants, Statement on Management Accounting, Definition of Management Accounting, 2008 IN SIMPLER TERMS Exhibit 1-1 5 An internal rather than external focus Lack of mandated rules Focus on operating segments Focus on the future Emphasis on timeliness MANAGERIAL ACCOUNTING vs. FINANCIAL ACCOUNTING WHAT DO MANAGERS DO? Planning Controlling Evaluating Decision Making PLANNING IS What: Setting strategic and operational goals and objectives Translating these into specific activities Allocating resources for their achievement Who: Upper and middle managers When: Strategic: annually, with a 5 to 10 year horizon Operational: monthly, quarterly, or annually CONTROLLING IS What: Monitoring day-to-day operations Exerting managerial influence on operations to conform to plans Taking corrective action as needed Who: Managers and line workers When: In real time – hourly, daily, weekly EVALUATING IS What: Comparing actual results to planned results Assessing individual performance Taking corrective action as needed Who: Managers When: Weekly, monthly, quarterly, or annually .
đang nạp các trang xem trước
