ACCT208 Lecture Notes - Lecture 1: Enterprise Risk Management, Management Accounting, Business Process

• School: University of Delaware
• Department: Accounting
• Course: ACCT208
• Professor: Dragone Debra

Document Summary

Build relationships: make it personal (ask about kids and life) Collect performance evaluation data: controlling : involves gathering feedback to ensure that the plan is being properly executed or modified as circumstances change. i. ii. Use performance report : planning and control cycle, what types of decisions are involved within this cycle? i. ii. iii. iv. What improvements should we make: tools for the successful manager, vocab, strategy: overall game plan of the company (develop niche- customer loyalty, enterprise risk management: identify risks and develop internal controls, process management i. ii. iii. iv. Process: steps followed to carry out a task (usually involves more than 1 dept in co) Value chain: major business functions that add value to product or service (what is the customer willing to pay) Goal in process management: make value chain run efficiently and improve. Necessary to stay competitive in a global economy: lean production/just in time (jit) a.