Managerial Accounting

Chapter1 managerial Accounting and Cost Concepts Managers carry out 3 major activities- planning, directive and motivating, controlling. I. Planning- establishing a basic strategy, selecting a farm animal of action, and specifying how the action will be implemented. A. An important part is to line alternatives and then select from among the alternatives the one that best fits the transcriptions strategy and objectives. 1. cheater opening a new store- enormous amt of time and muscle B. Look at the sales volume, profit margins, and cost; restore revenues or costs. C. Budgets ar usually prep ard under the focalization of the controller, who is the manager in charge of the Accounting Department. Budgets are prepared annually and construe managements plan in specific, quantitative terms. II. guiding and Motivating- mobilizing people to carry out plans and pasture routine operations. D. charge tasks to employe es, arbitrate disputes, answer questions, solve on-site problems, and make umpteen small decision that affect customers and employees. E. Managerial accounting info are used in periodic activity. III. Controlling- ensuring that the plan is in truth carried out and is appropriately limited as circumstances change. F. Feed support is the unwrap to potent 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 r esults take guide below the targets, more ! attention The planning and Control wheel around * 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 tuition to managers A. Strong incoming orientation. B. Relevant- appropriate for the problem at hand. C. slight emphasis on precision;...If you want to get a full essay, rear it on our website: OrderCustomPaper.com

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