RSM222H1 Chapter Notes - Chapter 1: Internal Control, Business Process, Operational Excellence
Document Summary
Expected to have expertise in cost management, performance measurement, and risk management. Role in decision making across various functional areas of the organization. Have to be more aware of the needs and concerns of a broader set of stakeholders. Must identify, understand, and address the expectations of suppliers, customers, employees and the communities it operates in. Expected to adhere to strictly high standard of professional ethics. Managerial accounting the form of accounting concerning providing info to managers for use in planning and controlling operations and for decision making o. Provides data that help organizations run more efficiently. Financial accounting the form of accounting concerning providing info to stakeholders: provides the scorecard by which a company"s past performance is judged. Determine and develop internal accounting info as a tool for helping managers make business decisions that satisfy customers while continuously monitoring costs and improving efficiencies.
