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B.COM (HONS); Msc. ACC & Fin, ACCA(UK) Level II Assistant Professor of Business Email: mbukeya@auaf.edu.af or mosesbukenya@yahoo.com
Moses Bukenya
Managerial accounting is the process of Identifying Measuring Analyzing Interpreting Communicating information
Directing
Acquires Resources
Decision Making
Controlling
Planning
Hires People
External Users
Controller
The chief managerial and financial accountant is responsible for: Supervising accounting personnel Preparation of information and reports, managerial and financial Analysis of accounting information Planning and decision making
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
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.
Managerial Accounting
Change
Just-in-Time Inventory
Total Quality Management Continuous Improvement
Objectives
Measure the cost of resources consumed. Identify and eliminate nonvalue-added costs. Determine efficiency and effectiveness of major activities. Identify and evaluate new activities that can improve performance.
Start
Theory of Constraints
A sequential process of identifying and removing constraints in a system. Restrictions or barriers that impede progress toward an objective
The corporate scandals experienced over the last few years have shown us that unethical behavior in business is wrong in a moral sense and can be disastrous in the economy. In addition to SarbanesOxley, there will likely be more reforms in corporate governance and accounting.
Professional Ethics
Competence
Confidentiality
Integrity
Credibility
End of Chapter 1