Professional Documents
Culture Documents
Chapter
Chapter 11
Management Financial
Accounting Accounting
Develops
Process of identifying, information for
measuring, accumulating, external decision
analyzing, preparing, makers:
interpreting, and
communicating
Stockholders,
information used by:
Suppliers,
Banks, Government
Managers Authorities
Scorekeeping:
Evaluate
organizational
performance Attention Directing:
Compare actual
results to expected
Problem Solving:
Assess possible
courses of action
Planning: Control:
Setting objectives Implementing plans
and outlining how and using feedback to
the objectives evaluate the attainment
will be obtained. of objectives.
Performance reports:
➢ compare actual results with budgeted amounts
➢ provide feedback by comparing results with plans
➢ highlight variances
Internal controls
Management audits
Cost-benefit Behavioral
balance implications
Product
Research
And
and
Service
Customer Development
or
Service Process
Design
Customer
Focus
Distribution Production
Marketing
Collects Prepares
and compiles standardized
information reports
Line managers:
directly involved with Staff managers: Advisory –
making and selling support line managers.
products or services.
➢ Provision of capital
➢ Planning for control
➢ Investor relations
➢ Reporting and interpreting
➢ Short-term financing
➢ Evaluating and consulting
➢ Banking and custody
➢ Tax administration
➢ Credits and collections
➢ Government reporting
➢ Investments
➢ Protection of assets
➢ Risk management
➢ Economic appraisal
➢(insurance)
Copyright © 2014 Pearson Education 1 - 21
Learning Current Trends in
Objective 6
Management Accounting
Adaption to changes:
Advances in technology
Advances in technology:
E-commerce
Enterprise resource planning (ERP)
B2C and B2B
Reliability
Trust Integrity