BUS 254 Chapter Notes - Chapter 1: Finished Good, Total Quality Management, Business Process

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 254
• Professor: Arsineh Garabedian

Document Summary

Manager"s activities are planning, directing and motivating, and controlling. Planning: looking at alternatives picking best one. Selecting a course of action and specifying how action will be implemented: also look at demand for resources against alternatives. Revenues and costs: budgets = detailed plan for the future in quantitative terms, prepared by controller (manager in charge of acc department) Directing and motivating: oversee day-to-day activities and make sure everything functions smoothly, motivate and direct people (assigning job, answer questions, settle disputes, etc. ) Differences between managerial and financial accounting: emphasis on the future. Strong emphasis on the future for managerial accounting. Use data to improve the future of the company: relevance of data. Managerial accounting wants information that is relevant even if it is not objective or verifiable. Financial accounting wants objective and verifiable data: less emphasis on precision. Ma takes more consideration in non-monetary figures (customer satisfaction: don"t have to be as precise as fa, segments of an organization.