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Department
Administrative Studies
Course
ADMS 2510
Professor
John Parkinson
Semester
Summer

Description
Garrison Chapter 1. Managers plan , direct and go through control process. Managerial accounting focuses mainly on planning and controlling. They are interrelated and function together. a. The directing and motivating activity is a daily activity where managers keep the organization working smoothly b. The control function compares the goal and the reality and gives feedback-Below target, above target. c. Planning and control cycle- keep making sure that the actual performance matches with the goal. If it doesn’t , then you go back to planning and see what needs to be changed to improve the performance. Strategic Planning You have to have a big picture of what the organization has to do. Business plans set the tone for all activities that are set to happen in the organizational future, helps set guidelines for evaluation of performance. Note: a. Financial accounting is for external users, Historical, objective and verifiable, requires precision in information produced, includes summarized data and follows GAAP and provides reports. b. Managerial accounting is for managers, future oriented, and is used for planning and control with timeliness and detailed reports while it may not following any GAAP rules. Organizational Structure Decentralization- where power is distributed among a number of person, decision makers are usually located at the operational level Centralization – where power is distributed among one or few persons, decisions take place at the top Line managers- deals with making things and providing services to the customers Staff relat
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