Managerial Accounting

Chapter1 managerial Accounting and Cost Concepts Managers carry out 3 major activities- planning, directional and motivating, controlling. I. Planning- establishing a basic strategy, selecting a note of action, and specifying how the action will be implemented. A. An important part is to infinite alternatives and then select from among the alternatives the one that best fits the transcriptions strategy and objectives. 1. darnel opening a new store- enormous amt of time and dexterity B. Look at the sales volume, profit margins, and cost; touch on revenues or costs. C. Budgets ar usually prep ard under the command of the controller, who is the manager in charge of the Accounting Department. Budgets are lively annually and construe managements plan in specific, quantitative terms. II. guiding and Motivating- mobilizing people to carry out plans and play routine operations. D. charge tasks to employees, arbi trate disputes, answer questions, solve on-the-spot problems, and make umpteen small decision that affect customers and employees. E. Managerial accounting info are used in everyday activity. III. Controlling- ensuring that the plan is in truth carried out and is appropriately change as circumstances change. F. Feed support is the unwrap to strong control.

G. Performance report compares budgetes to actual results. It suggests where operations are not proceeding as planned and where some split of the organization may require additional attention. 2. Actual resul ts take bunk below the targets, more atten! tion The planning and Control one shot * Involves the smooth function of management activities from planning through directing and motivating, controlling, and then back to planning again. I. Managerial accounting- concerned with providing data to managers A. Strong incoming orientation. B. Relevant- appropriate for the problem at hand. C. little emphasis on precision;...If you want to get a full essay, rear it on our website: OrderCustomPaper.com

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