33:010:275 Lecture Notes - Lecture 1: Enterprise Resource Planning, Customer Relationship Management, Total Quality Management
14 Jul 2017
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Document Summary
Follows the generally accepted accounting principles (gaap) Creates a true picture of a company"s finances for people outside of the company. Database (info-barn): detailed info that can be used for multiple purposes. Coordinate all levels of a company & evaluating overall performance of the company. Financial accounting- identifying, recording, communicating info through financial statements. Managers use this info, but different managers may need the info shown in different ways. Enterprise resource planning (erp)- 3rd party that collects data, displays it in the way you need. Management accounting- measuring, analyzing, and reporting financial/non-financial information to help managers make decisions to fulfill the goals of the company. Cost accounting- measuring, analyzing, and reporting financial/non-financial information to measure the costs for resources in an organization. Cost management- things managers do to use resources in a way to increase product value for customers and to achieve the company"s goals. Firm"s strategy- how a firm matches its capabilities with the opportunities in the marketplace.
