COMMERCE 2AB3 Chapter 1: Chapter One — Managerial Accounting
10 Feb 2017
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Document Summary
Activity-based costing (abc): a method of allocating overhead based on each product"s use of activities. Balanced scorecard: a performance-measurement approach that uses both nancial and non nancial measures that are tied to company objectives to evaluate a company"s operations in an integrated way. Board of directors: the group of of cials elected by the shareholders of a corporation or non-pro t organization to formulate operations policies, select of cers, and other manage the company. Ceo: the corporate of cer who has overall responsibility for managing the business; he or she delegates parts of that responsibility to other corporate of cers. Cfo: the corporate of cer who is responsible for all of a company"s accounting and nance issues. Controller: the nancial of cer who is responsible for a company"s accounting records, systems of internal control, and preparation of nancial statements, tax returns, and internal reports.
