Feedback in the form of performance reports that compare actual results with the budget are an essential part of the control function?. Feedback in the form of performance reports?[r]
Trang 1PowerPoint Authors:
Susan Coomer Galbreath, Ph.D., CPA Charles W Caldwell, D.B.A., CMA Jon A Booker, Ph.D., CPA, CIA Cynthia J Rooney, Ph.D., CPA
Copyright © 2014 by The McGraw-Hill Companies, Inc All rights reserved.
Managerial Accounting:
An Overview
Chapter 1
Trang 2Accounting: Seven Key
Differences
Trang 3Work of Management
Planning
Decision Making
Decision Making Controlling
Trang 4Establish Goals.
Establish Goals.
Trang 5The control function gathers feedback to
ensure that plans are being followed
The control function gathers feedback to
ensure that plans are being followed
Feedback in the form of performance reports
that compare actual results with the budget
are an essential part of the control function
Feedback in the form of performance reports
that compare actual results with the budget
are an essential part of the control function
Trang 6Decision Making
Decision making involves
making a selection among
competing alternatives
What should
we be selling?
What should
we be selling?
Who should
we be serving?
Who should
we be serving?
How should
we execute? How should
we execute?
Trang 7Managerial Accounting
Activities:
Marketing Majors
How many salespeople should we
plan to hire to serve a new
territory?
How many salespeople should we
plan to hire to serve a new
territory?
How much should we budget for
TV, print, and internet advertising?
How much should we budget for
TV, print, and internet advertising?
Planning