Ch1 Flashcards
Management functions
Planning
Directing
motivating
Controlling
Accounting knowledge ( financial and managerial)
Analytical skills
Knowledge of business functions
Ability to work on a team
Oral and written communication skills
Management accountant skills
Software that integrates production operations to achieve maximum of efficiency
Enterprise resource planning (erp)
Inventory systems where the cost of goods are accumulated as produced and their production is begun when the order is received producing goods to meet customer demand
Just-in-time management
Using the Internet to do business all over the world continuously
E- commerce
Triple bottom line
Profits
People
Planet
Financial measures
Profits
Positive impact on our employees and the community
People
Protecting the planet
Planet
 Deliver high-quality goods and services by involving employees at all levels of organization by continually evaluating activities to improve performance
Total quality management(TQM)
Support line positions (bookstore, library, advisor)
Staff positions
Directly involved in serving customers in providing goods
(Professor, deans, campus presidents)
Line positions
Maintain professional competence
Act with integrity and credibility
Preserve information confidentiality
Ethical standards of managers
Competence
Confidentiality
Integrity
Credibility
Ima statement of ethical protessionals practice
Legislation impose to regulate the accounting profession and impose quality standards
Sarbanes Oxley act (SOX)
Primary users of financial accounting
External users
Primary users managerial
Internal users
Purpose of info ( financial)
Lending and investing
Purpose of info (managerial)
Plan direction of the company
Time dimension and focus (financial)
Past
Time dimension and focus (managerial)
Future
Qualitative characteristics (financial)
Relevant, reliable, unbiased 
Qualitative characteristics (managerial)
relevant and timely
Scope of information (financial)
Entire organization
Scope of information (managerial)
Departmental focus
Rules and restrictions (financial)
GAAP
Rules and restrictions (managerial)
No rules
Quanification of information (financial)
$$ currency
Quantification of information (managerial)
Any measure
Regrading see a reporting (financial)
Periodic (annually)
Frequency of reporting (managerial)
As needed (frequently)
Behavioral concerns (financial)
Secondary concern
Behavioral concerns (managerial)
Primary concern
