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Group 6
1. To provide information for costing out services, products, and other objects
of interest to management.
cost => raw material inventory (will be used to produce finished goods)
future benefit => revenue from selling the finished goods (raw material is part
of productcost)
Target User
1. Planning
2. Controlling
3. Decision making
Time orientation
Financial accounting records and reports events that have already happened
Degree of greggation
Management accounting
• 1. Internally focused
• 2. No mandatory rules
Financial accounting
• 1. Externally focused
• 2. Must follow externally imposed rules
• 4. Historical orientation
Activity-Based Management
Customer orientation
Strategic positioning
Strategic cost management is the use of cost data to develop and identify
superior strategies that will produce a sustainable competitive advantage.
Profesional
CMA: One of the main purposes of the CMA was to establish management
accounting as a recognized, professional discipline, separate from the profession
of public accounting.CPA: The responsibility of a CPA is to provide assurance
concerning the reliability of financial statements.CIA: The focus of the CIA is
to recognize competency in internal auditing rather than external auditing as
with the CPA.
THE CMA