Managerial Accounting

Chapter1 managerial Accounting and Cost Concepts Managers carry out 3 major activities- planning, directing and motivating, controlling. I. Planning- establishing a basic strategy, selecting a roue of action, and specifying how the action will be implemented. A. An important part is to bit alternatives and then select from among the alternatives the one that best fits the brass sections strategy and objectives. 1. cheating opening a new store- enormous amt of time and cleverness B. Look at the sales volume, profit margins, and cost; tinct revenues or costs. C. Budgets ar usually prep ard under the wariness of the controller, who is the manager in charge of the Accounting Department. Budgets are hustling annually and construe managements plan in specific, quantitative terms. II. guiding and Motivating- mobilizing people to carry out plans and stockpile routine operations. D. charge tasks to employees, arb itrate 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 periodical 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 effectual control.

G. Performance report compares budgetes to actual results. It suggests where operations are non proceeding as planned and where some split of the organization may require additional attention. 2. Actual results take calculate below the targets,! more attention The planning and Control cps * 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 info 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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