Handout 1 Managerial Accounting and the Business Environment Work of Management

1
Handout 1 Managerial Accounting and the Business
Environment Work of Management

Planning
Directing and Motivating
Controlling
2
Comparison of Financial and Managerial Accounting
3
Planning and Control Cycle
Formulating long-and short-term plans (Planning)
Begin
Comparing actualto planned performance
(Controlling)
Implementing plans (Directing and Motivating)
DecisionMaking
Measuringperformance (Controlling)
4
Organizational Chart
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The Changing Business Environment

• Just-in-time production
• Total quality management
• Process reengineering
• Theory of constraints
• International competition
• E-commerce

Business environment changes in the past twenty
years
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Code of Conduct forManagement Accountants

• The Institute of Management Accountants (IMA)
  Standards of Ethical Conduct for Practitionersof
  Management Accounting and Financial Management
  have two major parts offering guidelines for
• ? Ethical behavior.
• ? Resolution for an ethical conflict.