BUS 254 Chapter 1-12: BUS 254 textbook notes

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 254
• Professor: Arsineh

Document Summary

Managerial accounting concerns providing information to managers for use in planning and controlling operations for decision making: financial accounting provides information to shareholders, creditors, and others who are outside an org. Managerial accounting is a tool for helping managers make business decisions that satisfy customers while continuously monitoring costs and improving efficiencies. The work of managers and their need for managerial acct info. Segments of an organization: financial accounting is primarily concerned with reporting for the company as a whole, managerial accounting focuses much more on the parts/segments of a company. Decentralization: decentralization = the delegation of decision making throughout an. Business process = a series of steps that are followed to carry out some task. Value chain = consists of the major business functions that add value to a or activity in a business company(cid:495)s products/services: research and development, product design, manufacturing, marketing, distribution, customer service. Three topics related managing and improving business processes: lean production.