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McGraw-Hill/Irwin
Learning Objective 1
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Managerial accounting is the process of Identifying Measuring Analyzing Interpreting Communicating information
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Learning Objective 2
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Acquires Resources
Decision Making
Controlling
Planning
Hires People
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Learning Objective 3
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Learning Objective 4
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External Users
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Interested parties, outside the organizatio 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 1-11 historical data, estimates, and
Learning Objective 5
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Learning Objective 6
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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
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Treasurer
Responsible for raising capital and safeguarding the organizations assets. Supervises relationships with financial institutions. Work with investors and potential investors. Manages investments. Establishes credit policies. Manages insurance coverage
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Internal Auditor
Responsible for reviewing accounting procedures, records, and reports in both the controllers and the treasurers area of responsibility. Expresses an opinion to top management regarding the effectiveness of the organizations accounting system.
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Learning Objective 7
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Managerial Accounting
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Change
Information and Communication Technology Just-in-Time Inventory Total Quality Management Continuous Improvement
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Learning Objective 8
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Marketing
Start
Theory of Constraints
A sequential process of identifying and removing constraints in a system.
Restrictions or barriers that impede progress toward an objective
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Learning Objective 9
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Learning Objective 10
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Professional Ethics
Competence Confidentiality Integrity Credibility
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End of Chapter 1
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