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Department
Administrative Studies
Course
ADMS 2510
Professor
Geoff Lawrence
Semester
Winter

Description
Chapter 1 Managerial Accounting decisionmaking plan future motivate control manage performanceinternal user forecast time plancontrol future emphasis timely importance segmented detailsdoesnt follow GAAPFinancial Accounting decision making for investorscreditorsexternal user historical time objective past emphasis precise importance aggregated big numbersmust follow GAAP use same languageManagement Reports are increased by relevanceprovide feedback to managers Performance Reports compares actual results to budgetCost Accounting measures product cost inventoryCOGS assess product profitability prepare budget investment decisions Centralization top mgmt makes most decisionscontrols Decentralization downward authority to lower mgrsemployees to make decisions Organization Chart Board of DirectorsPresidentVPControllerLine position related to organization objectives ex professor Staff supportive to lineother staff ex administrative
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