ACTG 2020 Chapter Notes - Chapter 1: Enterprise System, Dmaic, Supply Chain

• School: York University
• Department: Accounting
• Course: ACTG 2020
• Professor: Sylvia Hsingwen Hsu

Document Summary

The role of the management accountant in value creation. Financial mgmt. accountants are required to have competencies in cost mgmt. , performance measurement (financial and non-financial), process mgmt. and risk mgmt. They play a key role in decision making across the various functional areas of an orgs. Code of ethics for mgmt. accountants contains standards related to competence, confidentiality, integrity, and credibility. The work of managers and their need for managerial actg info. Managers usually carry out three major activities planning, directing and motivating, and controlling. Planning involves selecting a course of action and specifying how the action will be implemented. Directing and motivating involves mobilizing people to carry out plans and run routine operations. Controlling involves ensuring that the plan is actually carried out and is appropriately modified as circumstances change. Strategy game plan that enables a company to attract and retain customers by distinguishing itself from competitors. Customer value proposition reason for customers to choose it over a competitor.