RSM222H1 Lecture Notes - Lecture 1: Value Proposition, Corporate Social Responsibility, Conflict Resolution
Document Summary
Managerial accounting is the process of (cid:57) identifying (cid:57) measuring (cid:57) analyzing (cid:57) interpreting (cid:57) communicating information in pursuit of organizational goals. Every organization has managers who perform several major activities such as: Planning of this course is to teach measurement skills that managers use to support planning, directing and motivating, and controlling activities. Select alternative that does the best job of furthering organization"s objectives. Develop budgets to guide progress toward the selected alternative. Directing and motivating involves managing day-to-day activities to keep the organization running smoothly: employee work assignments, routine problem solving, conflict resolution, effective communications. The control function ensures that plans are being followed. Feedback in the form of performance reports that compare actual results with the budget are an essential part of the control function. A strategy is a game plan that enables a company to attract customers by distinguishing itself from competitors. The focal point of a company"s strategy should be its target customers.
