The  Role of Managerial Accounting in a Dynamic Business Environment  BY  BABASAB PATIL
Learning  Objective 1
Define Managerial Accounting <ul><li>Managerial accounting  is the process of  </li></ul><ul><li>Identifying </li></ul><ul...
Learning  Objective 2
Managing Resources, Activities, and People <ul><li>An organization . . . </li></ul>Acquires Resources Hires People Organiz...
Learning  Objective 3
How Managerial Accounting Adds Value to the Organization <ul><li>Providing information for decision making and planning. <...
The Balanced Scorecard How do we  look to owner’s? How do customers see us? How can we continue to improve? In which activ...
Learning  Objective 4
Managerial versus Financial Accounting Accounting System (accumulates financial and managerial accounting data in the cost...
Managerial versus Financial Accounting
Learning  Objective 5
<ul><li>A staff position supports and assists line positions. </li></ul><ul><ul><li>Example:  A cost accountant in the man...
Learning  Objective 6
Controller <ul><li>The chief managerial and financial accountant responsibility for: </li></ul><ul><ul><li>Supervising acc...
Treasurer <ul><li>Responsible for raising capital and safeguarding the organization’s assets. </li></ul><ul><ul><li>Superv...
Internal Auditor <ul><li>Responsible for reviewing accounting procedures, records, and reports in both the controller’s an...
Learning  Objective 7
Major Themes in Managerial Accounting Managerial Accounting Information and Incentives Costs and Benefits Evolution and Ad...
Evolution and Adaptation in Managerial Accounting E-Business Service vs.  Manufacturing Firms Emergence of New Industries ...
<ul><li>Objectives </li></ul><ul><li>Measure the cost of resources consumed. </li></ul><ul><li>Identify and eliminate non-...
<ul><li>Objectives </li></ul><ul><li>Determine efficiency and effectiveness of major activities. </li></ul><ul><li>Identif...
Learning  Objective 8
Strategic Cost Management and the Value Chain Product Design Research and Development Securing raw materials and other res...
Theory of Constraints <ul><li>A sequential process of  identifying and removing constraints   in a system. </li></ul>Restr...
Learning  Objective 9
Ethical Climate of Business <ul><li>The corporate scandals experienced over the last few years have shown us that  u nethi...
Learning  Objective 10
Managerial Accounting as a Career <ul><li>Professional Organizations </li></ul>Institute of Management Accountants (IMA) P...
Professional Ethics <ul><li>Competence </li></ul><ul><li>Confidentiality </li></ul><ul><li>Integrity </li></ul><ul><li>Cre...
End of Chapter 1
Upcoming SlideShare
Loading in …5
×

Roles of ACCOUNTING manager

1,354 views

Published on

CHANGING ROLES OF MANAGER ACCORDING TO ENVIRONMENTAL

Published in: Business, Career
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,354
On SlideShare
0
From Embeds
0
Number of Embeds
11
Actions
Shares
0
Downloads
85
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Roles of ACCOUNTING manager

  1. 1. The Role of Managerial Accounting in a Dynamic Business Environment BY BABASAB PATIL
  2. 2. Learning Objective 1
  3. 3. Define Managerial Accounting <ul><li>Managerial accounting is the process of </li></ul><ul><li>Identifying </li></ul><ul><li>Measuring </li></ul><ul><li>Analyzing </li></ul><ul><li>Interpreting </li></ul><ul><li>Communicating information </li></ul>
  4. 4. Learning Objective 2
  5. 5. Managing Resources, Activities, and People <ul><li>An organization . . . </li></ul>Acquires Resources Hires People Organized set of activities Decision Making Planning Directing Controlling
  6. 6. Learning Objective 3
  7. 7. How Managerial Accounting Adds Value to the Organization <ul><li>Providing information for decision making and planning. </li></ul><ul><li>Assisting managers in directing and controlling activities. </li></ul><ul><li>Motivating managers and other employees towards organization’s goals. </li></ul><ul><li>Measuring performance of subunits, activities, managers, and other employees. </li></ul><ul><li>Assessing the organization’s competitive position. </li></ul>
  8. 8. The Balanced Scorecard How do we look to owner’s? How do customers see us? How can we continue to improve? In which activities must we excel? Financial Perspective Goals Measures Customer Perspective Goals Measures Operations Perspective Goals Measures Innovation Perspective Goals Measures
  9. 9. Learning Objective 4
  10. 10. Managerial versus Financial Accounting Accounting System (accumulates financial and managerial accounting data in the cost accounting system) Managerial Accounting Information for decision making, planning, and controlling an organization’s operations. Financial Accounting Published financial statements and other financial reports. Internal Users External Users
  11. 11. Managerial versus Financial Accounting
  12. 12. Learning Objective 5
  13. 13. <ul><li>A staff position supports and assists line positions. </li></ul><ul><ul><li>Example: A cost accountant in the manufacturing plant. </li></ul></ul>Line and Staff Positions <ul><li>A line position is directly involved in achieving the basic objectives of an organization. </li></ul><ul><ul><li>Example: A production supervisor in a manufacturing plant. </li></ul></ul>
  14. 14. Learning Objective 6
  15. 15. Controller <ul><li>The chief managerial and financial accountant responsibility for: </li></ul><ul><ul><li>Supervising accounting personnel </li></ul></ul><ul><ul><li>Preparation of information and reports, managerial and financial </li></ul></ul><ul><ul><li>Analysis of accounting information </li></ul></ul><ul><ul><li>Planning and decision making </li></ul></ul>
  16. 16. Treasurer <ul><li>Responsible for raising capital and safeguarding the organization’s assets. </li></ul><ul><ul><li>Supervises relationships with financial institutions. </li></ul></ul><ul><ul><li>Work with investors and potential investors. </li></ul></ul><ul><ul><li>Manages investments. </li></ul></ul><ul><ul><li>Establishes credit policies. </li></ul></ul><ul><ul><li>Manages insurance coverage </li></ul></ul>
  17. 17. Internal Auditor <ul><li>Responsible for reviewing accounting procedures, records, and reports in both the controller’s and the treasurer’s area of responsibility. </li></ul><ul><ul><li>Expresses an opinion to top management regarding the effectiveness of the organizations accounting system. </li></ul></ul>
  18. 18. Learning Objective 7
  19. 19. Major Themes in Managerial Accounting Managerial Accounting Information and Incentives Costs and Benefits Evolution and Adaptation Behavioral Issues
  20. 20. Evolution and Adaptation in Managerial Accounting E-Business Service vs. Manufacturing Firms Emergence of New Industries Global Competition Focus on the Customer Cross-Functional Teams Product Life Cycles Time-Based Competition Information and Communication Technology Just-in-Time Inventory Total Quality Management Continuous Improvement Change
  21. 21. <ul><li>Objectives </li></ul><ul><li>Measure the cost of resources consumed. </li></ul><ul><li>Identify and eliminate non-value-added costs. </li></ul>Cost Management Systems Cost Management System
  22. 22. <ul><li>Objectives </li></ul><ul><li>Determine efficiency and effectiveness of major activities. </li></ul><ul><li>Identify and evaluate new activities that can improve performance. </li></ul>Cost Management Systems Cost Management System
  23. 23. Learning Objective 8
  24. 24. Strategic Cost Management and the Value Chain Product Design Research and Development Securing raw materials and other resources Production Marketing Distribution Customer Service Start
  25. 25. Theory of Constraints <ul><li>A sequential process of identifying and removing constraints in a system. </li></ul>Restrictions or barriers that impede progress toward an objective
  26. 26. Learning Objective 9
  27. 27. Ethical Climate of Business <ul><li>The corporate scandals experienced over the last few years have shown us that u nethical behavior in business is wrong in a moral sense and can be disastrous in the economy. In addition to Sarbanes-Oxley, there will likely be more reforms in corporate governance and accounting. </li></ul>
  28. 28. Learning Objective 10
  29. 29. Managerial Accounting as a Career <ul><li>Professional Organizations </li></ul>Institute of Management Accountants (IMA) Publishes Management Accounting and research studies. Administers Certified Management Accountant program Develops Standards of Ethical Conduct for Management Accountants
  30. 30. Professional Ethics <ul><li>Competence </li></ul><ul><li>Confidentiality </li></ul><ul><li>Integrity </li></ul><ul><li>Credibility </li></ul>
  31. 31. End of Chapter 1

×