BU247 Study Guide - Final Guide: Balanced Scorecard, Management Accounting, Fixed Cost

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14 Dec 2013
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Rules and format prescribed by the international accounting standards board. Rely on info provided by middle level managers to develop an overall financial summary for the organization and make broad strategic choices based on that info. Assess operational info and decide whether process improvements are needed and, if so, their form. Translating operational info into projected financial results. Rely on both financial and non-financial process info (cost, quality etc. ) to manage the processes they are responsible for. Therefore, value of management accounting info in supporting decision making must justify ma system expenditures. Plan: identify objectives, choose course of action to achieve these objectives. Do: implement the chosen course of action. Check: monitor the results of the implemented course of action, evaluate the results by comparing them with results expected when the plan was developed. Act: maintain the current direction if acceptable, or return to plan stage to develop an alternative. ****** measurement must support a company" strategy and operations **********

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