Managerial accounting a decision focus

Trang 1

A Decision Focus

An Introduction to Managerial

Accounting

Trang 2

Financial & Managerial Accounting

– To provide information to users and interested persons outside

the organization

– To provide useful information to managers (people inside the

organization)

Trang 3

Organizations

 An organization is a group of people joined together in

seeking some common goal(s) or objective(s)

 Organizations differ in their objectives; business firms

seek to generate profits, while not-for-profit

organizations do not

 Management of an organization will use strategic

planning to help it achieve its objectives

– strategic decisions about the products

– Not-for-profit organizations will make similar decisions

Trang 4

Organizing to Achieve Objectives

when it is shared by a number of persons

– Line departments

– Staff departments

– An organizational chart

Trang 5

Who’s Who in Accounting

accounting officer and a member a top

management

department.

Trang 6

Basic Management Functions

Trang 7

Management by Exception (MBE)

The management function of control relies

heavily on management by exception

Trang 8

depends heavily on feedback information on how well the organization is achieving its

objectives.

– Appraising the activities or operations

– Appraising the performance of individuals

Trang 9

A Model of the Decision-Making

Process

Trang 10

– Profit-seeking

 Corporations

 Partnerships

 Single proprietorships

– Not-for-profit

 Governmental organizations

 Non-governmental organizations

Trang 11

Nature of Information

– Quantitative information

– Qualitative information

being made

Trang 12

Sources of Accounting Information

the data recorded for events and transactions

of sources within the organization

Trang 13

Uses of Management Accounting

Information

 Planning for future periods

– Strategic planning

– Capital budgeting

– Annual budgeting

– Short-range planning

 Organizing – using resources in the best way to

achieve objectives

 Directing – using daily information (e.g, costs, margins,

sales etc) to oversee operations

 Controlling – comparing actual results against what

was planned; feedback in the form of performance

reports is quite useful.

Trang 14

Managerial Accounting

the same accounting system.

responsibility.

Trang 15

Differences Between Management

Accounting and Financial Accounting (1)

 Financial Accounting

– Information guided by

GAAP

– External reports regarding

the stewardship of organization as a whole

– Mandatory reporting

 Managerial Accounting

– Information governed by usefulness to internal users.

– Internal reports regarding

the stewardship over various parts of the organization.

– Voluntary reporting –

reported if benefits > cost

Trang 16

Accounting and Financial Accounting (2)

 Financial Accounting

– Primarily historical and

easily verifiable information

– Draws primarily from

economics

 Managerial Accounting

– Includes significant amounts

of prospective (forward looking) information; also includes many

approximations and more nonmonetary information due

to need for timeliness

– Draws heavily from

economics, finance, statistics, and behavioral

Trang 17

Management Accounting as a

Recognized Discipline

as a discipline in its own right.

primary focus of recording costs to include a myriad of information useful to managers

involved in decision making.

Trang 18

The CMA Certificate

– Business Analysis

– Management Accounting and Reporting

– Strategic Management

– Business Applications

Management Accountants (IMA)

Định dạng
Số trang	18
Dung lượng	310,5 KB