Overview Flashcards
Management Accounting or Financial Accounting
- Focus is on business segments (not company as a whole)
Management Accounting
Management Accounting or Financial Accounting
- created as needed (be it daily or monthly)
Management Accounting
Controller or Treasurer
- reporting and interpreting
Controller
Controller or Treasurer
- provision of capital
Treasurer
Controller or Treasurer
- investment and insurance
Treasurer
Controller or Treasurer
- economic appraisal
Controller
Controller or Treasurer
- banking and credit
Treasurer
Line vs Staff
Line
- Directly involved with the organization’s mission
- has authority to give orders
Staff
- provides support for the organization’s mission
- has authority to advise (not order)
Unique Feature of JIT
Inventories are eliminated
Just in Time vs Traditional
- flexible or multi-skilled workforce
Just in Time
Just in Time vs Traditional
- some defects are acceptable
Traditional
Just in Time vs Traditional
- materials are purchased in large quantity
Traditional
Just in Time vs Traditional
- integrated production design and process
Just in Time
Just in Time vs Traditional
- one product & small production batch
Just in Time
