Chapter 1 Flashcards
1
Q
Managerial Accounting
A
Providing internal information
2
Q
Functions of Managers
A
- Planning (accompanied by a budget)
- Directing and motivating (mobilizing people to carry out plans)
- Controlling (gathering feedback and involves performance reports)
- Decision making (What, whom, how)
3
Q
Value Chain
A
Major business functions that add value to a company
4
Q
Intrinsic Motivation
A
Motivation that comes from within us
5
Q
Extrinsic Incentives
A
The promise of a reward
6
Q
Cognitive Bias
A
Systemic human error in thinking that occurs when people are processing and interpreting information in the world.
