Goals of managerial accounting Provide information for: Planning Controlling Making decisions.

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Presentation transcript:

Goals of managerial accounting Provide information for: Planning Controlling Making decisions

Planning Setting objectives Corporations Maximize stock price vs. maximize profits Increase quality Increase customer satisfaction Increase repeat customers

Planning Setting objectives Google Focus on best customer experience possible Do one thing really well Speed Make money responsibly Have fun

Controlling Comparing actual to expected performance Budgets Causes of variances Volume Price Requires gathering data

Decision Making Selecting alternatives McDonalds Alternatives to increase same store sales

Comparison of financial and managerial accounting Financial accounting Managerial accounting Users Time orientation Summarization Format/Rules

Value Chain Activities which create value to customer Activity based accounting Quality of product: compete on quality Price: compete on price Delivery time Eliminate activities which don’t add value Coffee at hotel

Value Chain Customers Banks Profitable Not profitable

Ethics Ethical versus legal What is ethical? Benefits of ethical behavior