download materi Managerial Accounting

Chapter 1

The Changing Role of Managerial Accounting in a Dynamic Business Environment

Learning
Objective
1

Define Managerial Accounting

Learning
Objective
2

Managing Resources, Activities, and People

An organization . . .

Learning
Objective
3

How Managerial Accounting Adds Value to the Organization

Providing information for decision making and planning.

Assisting managers in directing and controlling activities.

Motivating managers and other employees towards organization’s goals.

Measuring performance of subunits, activities, managers, and other employees.

Assessing the organization’s competitive position.

The Balanced Scorecard

Learning
Objective
4

Managerial versus Financial Accounting

Managerial versus Financial Accounting

Learning
Objective
5

Line and Staff Positions

A line position is directly involved in achieving the basic objectives of an organization.

Example:  A production supervisor in a manufacturing plant.

A staff position supports and assists line positions.

Example:  A cost accountant in the manufacturing plant.

Learning
Objective
6

Controller

    The chief managerial and financial accountant responsibility for:

Supervising accounting personnel

Preparation of information and reports, managerial and financial

Analysis of accounting information

Planning and decision making

Treasurer

   Responsible for raising capital and safeguarding the organization’s assets.

Supervises relationships with financial institutions.

Work with investors and potential
investors.

Manages investments.

Establishes credit policies.

Manages insurance coverage

Internal Auditor

    Responsible for reviewing accounting procedures, records, and reports in both the controller’s and the treasurer’s area of responsibility.

Expresses an opinion to top
management regarding the
effectiveness of the
organizations accounting
system.

Learning
Objective
7

Major Themes in Managerial Accounting

Evolution and Adaptation in Managerial Accounting

Cost Management Systems

Objectives

ÊMeasure the cost of resources consumed.

ËIdentify and eliminate non-value-added costs.

Cost Management Systems

Objectives

¸Determine efficiency and effectiveness of major activities.

¹Identify and evaluate new activities that can improve performance.

Learning
Objective
8

Strategic Cost Management and the Value Chain

Theory of Constraints

  A sequential process of identifying and removing constraints in a system.

Learning
Objective
9

Ethical Climate of Business

   The corporate scandals experienced over the last few years have shown us that unethical behavior in business is wrong in a moral sense and can be disastrous in the economy.   In addition to Sarbanes-Oxley, there will likely be more reforms in corporate governance and accounting.

Learning
Objective
10

Managerial Accounting as a Career

Professional Organizations

Professional Ethics

4Competence

4Confidentiality

4Integrity

4Credibility

End of Chapter 1