22107 Lecture Notes - Lecture 8: Sunk Costs, Cash Flow, Management Accounting
Document Summary
Management accounting & costing: contemporary view of accounting information systems. Non-financial info is important from a management perspective. Qualitative: employee satisfaction, reputation, and service quality: managerial vs. financial accounting, information needs of external/internal users. Creditors want to access financial health (cash flow) Needs: timely/detailed info on sales & expenses & performance. Planning (lt - capital st = meeting customer demands) Controlling (motivation, monitoring, evaluation of employees: role of relevant factors in decision making. Relevant cost: unavoidable (either one or the other)
