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ACTG 2020 (73)
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Lecture 1.docx

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York University
ACTG 2020
Ben Kelly

Management Accounting ConceptsJessica GahtanChapter 1Managerial accounting provides information to managers so that they can effectively and efficiently manage an organizationIn this first chapter we will look at what managers do the information that they need the general business environment in which managers function and the importance of business ethicsA strategy is a game plan that enables a company to attract customers by distinguishing itself from competitors The focal point of a companys strategy should be its target customers A company can succeed only if it creates a reason for customers to choose it over a competitor These reasons or what are more formally called customer value propositions are the essence of strategyCustomer Value PropositionsCompanies that adopt a customer intimacy strategy strive to understand and respond to individual customer needs better than competitors Examples of companies that pursue this strategy include Cisco Systems The Keg SteakhouseBar and Dell Computer CorporationCompanies that adopt an operational excellen
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