Professional Documents
Culture Documents
McGraw-Hill/Irwin
Managerial accounting is the process of Identifying Measuring Analyzing Interpreting Communicating information
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Acquires Resources
Decision Making
Controlling
Planning
Hires People
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External Users
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Interested parties, outside the organiz Required and must conform to generally accepted accounting principles. Regulated by the Financial Accounting Standards Board, and, to a lesser degree, the Securities and Exchange Commission. Source of Data The organization's basic Almost exclusively drawn from the accounting system, plus various organization's basic accounting other sources, such as rates of system, which accumulates effective products manufactured, financial information. physical quantities of material and labor used in production, occupancy rates in hotels and hospitals, and average take-off delays Nature of Reports Reports often focus on subunits Reports focus on the enterprise in and Procedures within the organization, such as its entirety. Based almost departments, divisions, exclusively on historical geographical regions, or product transaction data. lines. Based on a combination of 1-6 historical data, estimates, and
Managerial Accounting
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Change
Information and Communication Technology Just-in-Time Inventory Total Quality Management Continuous Improvement
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Professional Ethics
Competence Confidentiality Integrity Credibility
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End of Chapter 1
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