This document introduces managerial accounting as accounting that is used internally by managers for planning, directing, and controlling the activities of a business. It discusses how managerial accounting differs from financial accounting by focusing on internal reporting rather than external reporting. It also outlines some of the key functions of managerial accounting like budgeting, performance reporting, and decision making. Finally, it discusses how managerial accounting skills are relevant for various business careers and how the perspective of managerial accounting goes beyond just numbers to consider ethics, risk management, social responsibility, leadership, and other factors.
This document introduces managerial accounting as accounting that is used internally by managers for planning, directing, and controlling the activities of a business. It discusses how managerial accounting differs from financial accounting by focusing on internal reporting rather than external reporting. It also outlines some of the key functions of managerial accounting like budgeting, performance reporting, and decision making. Finally, it discusses how managerial accounting skills are relevant for various business careers and how the perspective of managerial accounting goes beyond just numbers to consider ethics, risk management, social responsibility, leadership, and other factors.
This document introduces managerial accounting as accounting that is used internally by managers for planning, directing, and controlling the activities of a business. It discusses how managerial accounting differs from financial accounting by focusing on internal reporting rather than external reporting. It also outlines some of the key functions of managerial accounting like budgeting, performance reporting, and decision making. Finally, it discusses how managerial accounting skills are relevant for various business careers and how the perspective of managerial accounting goes beyond just numbers to consider ethics, risk management, social responsibility, leadership, and other factors.
Financial Accounting and Managerial Accounting Manager vital activities
Planning (Budget) Controlling (Performance Decision Making
Report) MA and Your future career • Business Major • Marketing, Supply Chain Management, Human Resource Management • Accounting Major • Professional Certification – CGMA (AICPA & CIMA), CMA (IMA) Beyond the Numbers Ethics Perspective • Strategic Management Perspective Strategy – Target Customer– Customer Value Proposition – Customer intimacy, operational Beyond the excellence, product leadership • Enterprise Risk Management Perspective Numbers Controls are used to reduced risk • Corporate Social Responsibility Perspective Serving other stakeholder when making decision Beyond the Process Management Perspective Numbers Beyond the • Leadership Perspective • Motivation – Intrinsic vs Extrinsic Numbers • Cognitive Bias