INTRODUCTION TO MANAGEMENT INFORMATION

Chapter 4

1. What is the purpose of Management Information

What is a Manager?

Decision Making Data and Information

Planning Control The Features of Effective Management Information 1. Relevent 2. Reliable 3.Understandable 4. Complete 5. Accurate 6. Timely 7. Clear 8. Consistant 9. Cost Effective

2.The Source and Categories of Information

Primary and Secondary Data

Internal Source of Information

External Source of Information

3.Management Accounting and Financial Accounting

Financial Accounting

Cost Accounting
Management Accounting Involvement with Management Financial Accounts and Management Information The Relationship Between Cost and Management Accounts and

Financial Accounts Cost Accounting System Benefits of Cost Accounting and the Accounting Technicians Role

4. Responsibility Centers
What is a Responsibility Center?

Cost Centers
Profit Centers Investment Centers The Hierarchy of Responsibility Centers

5. Cost Units
What is a Cost Unit?

Composite Cost Units