ACCOUNTING & BUSINESS DECISIONS: ACTG 6910 Presented by Charles Kile, Ph.D. Professor of Accounting Middle Tennessee State University 6:00 pm – 8:40 pm.

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Presentation transcript:

ACCOUNTING & BUSINESS DECISIONS: ACTG 6910 Presented by Charles Kile, Ph.D. Professor of Accounting Middle Tennessee State University 6:00 pm – 8:40 pm BUSINESS AND AEROSPACE BUILDING S308

Required Textbook : Accounting for Decision Making & Control by Jerold Zimmerman, 8th edition ISBN: Copyright year: 2013; Available through the campus bookstore.

Optional Reading: “Guests of the Kremlin” By Robert G. Emmens The updated and reprinted Guests of the Kremlin was reprinted in 2007 by Ishi Press with Pictures, Maps and Introductions. Available in Paperback, 342 Pages, ISBN-13: , ISBN:

Do you ever wonder why there are so many accountants? Do you ever wonder why accounting is so prevalent throughout our society?

Let’s “Put the Accountants Out of Business”

WHY ARE THERE SO MANY ACCOUNTANTS?

WHY ACCOUNTING? Accounting is part of the system that helps determine... Who makes decisions over other people’s money (resources) What those people do with other people’s money (resources) that they manage

Two Compelling Questions Because of such limitations in the physical world within which we live, the two most compelling issues at any level in life are probably Who makes decisions over resources? What do those people decide to do with those resources?

Organizations Don’t Make Decisions! People within organizations Do Most decisions made by people within the organizations are not what a rational, altruistic, value-maximizing government or organization would make.

UNFORTUNATELY, Human psychology does not lend itself to making rational decisions. People making the decisions do not have the incentives to make decisions that maximize the organization’s value.

Wendy Askins

Jack Whitaker

David Lee Edwards What can you do with an extra $27 million?

David Lee Edwards You COULD GET REMARRIED!

Janite Lee

Michael Carroll

Billy Bob Harrell, Jr.

Callie Rogers

William Bud Post

Amanda Clayton

Evelyn Adams TWO TIME MULTI-MILLION DOLLAR LOTTERY WINNER

Barry Shell

Jeffrey Dampier

Ibi Roncaioli

Abraham Shakespeare Writes his own tragedy With a lot of help from This woman 

The Oracle of Omaha

Fruit of the Loom

See’s Candies

Dairy Queen

American Express

$31,000

BERKSHIRE HATHAWAY

The Coca-Cola Company

tte Gillette

Warren Buffett

Warren Buffet Donates $37 Million to the Bill & Melinda Gates Foundation

David Lee Edwards

Robert McLean

Wendy Askins

Warren Buffett

Michael Carroll

Amanda Clayton

Wendy Askins

Warren Buffett

Who makes the decisions over the resources?

+ or - ?

Accounting