AC 212- Final Exam Guide - Comprehensive Notes for the exam ( 107 pages long!)
28 Mar 2018
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Document Summary
Managers set goals and objectives and identify how to achieve them. Examples: budgets, generating more sales by adding a new product line and decreasing labor costs by decreasing hours that company operates. Supervising and managing operations on a day-to-day basis. Examples: using weekly sales reports to adjust promotion strategies, using product cost reports to adjust material consumption. Evaluating results and comparing to the plans and making changes as needed. Examples: comparing budgeted sales wit actual sales, comparing budgeted costs and then taking corrective actions. Categorize each of the following activities as which management responsibility it fulfills: planning, directing, or controlling. Some activities may fulfill more than one responsibility: management decides to increase sales growth by 20% next year. Planning: management analyzes the impact of a recent advertising campaign by comparing budgeted sales to actual sales. Controlling: management reviews hourly sales reports to determine the level of staffing needed to staff the consumer staff desk.
