ACC 406 Chapter Notes - Chapter 1: Geek Squad, Activity-Based Costing, Financial Accounting
8 Jun 2013
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Acc 406 - chapter 1 introduction to managerial accounting. Info given only to internal users; corporate sustainability reports, social responsibility reports, citizenship report; these reports (csr reports) often occurs b/c firms want to manage their reputation by preparing & realising such info themselves. Controlling monitoring a plan"s implementation & taking corrective action as needed; achieved by comparing actual performance w. expected performance: decision making process of choosing among competing alternative. Comparison of managerial & financial accounting: financial accounting (external accounting) concerned with producing info (fs) for external users (investors, creditors, suppliers, etc. ) Cost leadership (lower cost than competitors) : strategic. Positioning: product life cycles, the value chain superior products through differentiation (provide something to customers not provided by competitors (geek squad) Conception, intro to market, growth, maturity, decline, withdrawal from market. To the set of business functions that add value to an organization"s products/services. & respond to the most important threats & business opportunities facing the organization; long term success.
