[ADMS 2510] - Final Exam Guide - Ultimate 69 pages long Study Guide!

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ADMS 2510 Full Course Notes
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ADMS 2510 Full Course Notes
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Document Summary

Role of management accountant in value creation: managerial accounting. Managers people inside organization who direct/control. Provides data to help org. run more efficiently. Help with decisions to satisfy customers while monitoring cost and efficiency. Provides information to shareholders, creditors, and those outside organization. Provides scorecard which company"s past performance is judged. Work of managers and their need for managerial accounting information: manager major activities. Often accompanied by budget: quantitative plan for acquiring financial resources for specified future. Budget prepared by controller: manager in charge of accounting department. Evaluate feedback t o find ways to run efficient routine. Requires performance reports: compares budgeted data to actual data on periodic basis. Make decisions related to products and services that it sells. Make decisions related to customers that they serve. Decisions related to how they execute: all companies have to decide among competing improvement opportunities, planning and control cycle.