BUS 254 Chapter Notes - Chapter 1: Total Quality Management
ellanda11 and 39647 others unlocked
3
BUS 254 Full Course Notes
Verified Note
3 documents
Document Summary
Managerial accounting chapter 1: the changing role of managerial accounting. All organizations have two things in common. They all have a set of goals or objectives. In pursuing an organization s goals, managers need information. Managerial accounting: the process of identifying, measuring, analyzing, interpreting and communicating information in pursuit of an organization s goals. It is an integral part of the management process and management accountants are important strategic partners in an organization s management team. In the past, management accountants operated in a strictly staff capacity, usually physically separated from the managers for whom they provided reports and information. Today, management accountants serve as internal business consultants, working side-by-side in cross-functional teams with managers from all areas of the organization. The role of the accountant in leading-edge companies has been transformed from number cruncher and financial historian to being business partner and trusted advisor.