Identifies the skills and competencies that accountants need in order to contribute to the strategic success of their employer in a complex, global business environment.
The changing business environment manager's perspectiveLou Foja
Management is expected to ensure that the organization uses its resources wisely, operates profitably, pays its debts, and abides by laws and regulations.
To fulfill these expectations, managers establish the goals, objectives, and strategic plans that guide and control the organization’s operating, investing, and financing activities.
This document discusses strategic management accounting. It begins by defining strategic management accounting as the role of management accounting in strategic analysis, planning, and control of organizations. It then discusses various strategic management accounting techniques like life cycle costing, kaizen costing, target costing, and benchmarking. The document explains these techniques and provides examples. It also discusses Porter's competitive strategies of cost leadership, differentiation, and focus. Finally, the document defines strategic management accounting according to various authors and discusses exploiting internal and external linkages through value chain analysis to gain competitive advantage.
This document discusses measuring performance at the strategic business unit (SBU) level. It covers several key points:
1. Strategies can be found at the corporate level for the whole organization and at the business unit level for divisions within the organization. Consistency is needed across levels.
2. SBUs are autonomous organizational units that control most factors affecting long-term performance.
3. Strategy concerns and options differ at the corporate versus business unit levels. Business unit strategies focus on competitive advantage in each industry.
Strategic management in different business contextNARENDRA KUMAR
Strategic management varies across different business contexts. In small businesses, strategy is more planning-based due to limited scope and resources. Multinational companies must consider strategy at both the corporate and business unit levels, allocating resources and coordinating operations globally. Manufacturing strategy focuses on physical products, while services are more important to strategy in service organizations. Public sector strategy is determined by political rather than market conditions, prioritizing social issues over business concerns. Not-for-profit strategy centers values and ideologies, with multiple revenue sources and susceptibility to political influences.
This document discusses enterprise performance management. It provides details about the course code, type, credits, books, and chapters to be studied. Performance management is defined as systematically evaluating employee and organizational performance against goals. It is important for implementing business strategies, motivating employees, and improving organizational effectiveness. The key steps in performance management include setting goals, measuring and monitoring performance, providing feedback, and evaluating performance. Performance management is important for human resource planning, recruitment, compensation, and developing employees.
The document discusses key concepts related to the modern business environment including just-in-time (JIT) production, total quality management (TQM), kaizen costing, target costing, value analysis, value engineering, business process reengineering, supply chain management, and gain sharing arrangements. It explains that JIT aims to produce the required items at the required quality, quantity, and precise time through flexible production and strong supplier relationships. TQM seeks the highest quality through continuous improvement approaches like kaizen costing and target costing. Value analysis identifies unnecessary costs while value engineering enhances value for customers.
The document discusses non-financial performance measures for evaluating organizational performance, including the Balance Scorecard and Malcolm Baldrige frameworks. It provides details on the key components and perspectives of the Balance Scorecard, including financial, customer, internal process, and learning & growth. It also summarizes the origins and criteria of the Malcolm Baldrige framework for performance excellence, including the seven categories of leadership, strategic planning, customer focus, measurement/knowledge management, human resources, process management, and business results.
Techniques of Strategic Evaluation & Strategic Manik Kudyar
The document discusses strategic evaluation and control. It defines strategic evaluation as determining the effectiveness of a strategy in achieving objectives and making corrections. Key aspects of strategic evaluation include assessing internal/external factors, measuring performance, and taking corrective actions. Strategic control ensures the strategy and its implementation meet objectives. Techniques for strategic evaluation include gap analysis, SWOT analysis, PEST analysis, and benchmarking. Strategic control types are premise control, implementation control, strategic surveillance, and special alert control.
The changing business environment manager's perspectiveLou Foja
Management is expected to ensure that the organization uses its resources wisely, operates profitably, pays its debts, and abides by laws and regulations.
To fulfill these expectations, managers establish the goals, objectives, and strategic plans that guide and control the organization’s operating, investing, and financing activities.
This document discusses strategic management accounting. It begins by defining strategic management accounting as the role of management accounting in strategic analysis, planning, and control of organizations. It then discusses various strategic management accounting techniques like life cycle costing, kaizen costing, target costing, and benchmarking. The document explains these techniques and provides examples. It also discusses Porter's competitive strategies of cost leadership, differentiation, and focus. Finally, the document defines strategic management accounting according to various authors and discusses exploiting internal and external linkages through value chain analysis to gain competitive advantage.
This document discusses measuring performance at the strategic business unit (SBU) level. It covers several key points:
1. Strategies can be found at the corporate level for the whole organization and at the business unit level for divisions within the organization. Consistency is needed across levels.
2. SBUs are autonomous organizational units that control most factors affecting long-term performance.
3. Strategy concerns and options differ at the corporate versus business unit levels. Business unit strategies focus on competitive advantage in each industry.
Strategic management in different business contextNARENDRA KUMAR
Strategic management varies across different business contexts. In small businesses, strategy is more planning-based due to limited scope and resources. Multinational companies must consider strategy at both the corporate and business unit levels, allocating resources and coordinating operations globally. Manufacturing strategy focuses on physical products, while services are more important to strategy in service organizations. Public sector strategy is determined by political rather than market conditions, prioritizing social issues over business concerns. Not-for-profit strategy centers values and ideologies, with multiple revenue sources and susceptibility to political influences.
This document discusses enterprise performance management. It provides details about the course code, type, credits, books, and chapters to be studied. Performance management is defined as systematically evaluating employee and organizational performance against goals. It is important for implementing business strategies, motivating employees, and improving organizational effectiveness. The key steps in performance management include setting goals, measuring and monitoring performance, providing feedback, and evaluating performance. Performance management is important for human resource planning, recruitment, compensation, and developing employees.
The document discusses key concepts related to the modern business environment including just-in-time (JIT) production, total quality management (TQM), kaizen costing, target costing, value analysis, value engineering, business process reengineering, supply chain management, and gain sharing arrangements. It explains that JIT aims to produce the required items at the required quality, quantity, and precise time through flexible production and strong supplier relationships. TQM seeks the highest quality through continuous improvement approaches like kaizen costing and target costing. Value analysis identifies unnecessary costs while value engineering enhances value for customers.
The document discusses non-financial performance measures for evaluating organizational performance, including the Balance Scorecard and Malcolm Baldrige frameworks. It provides details on the key components and perspectives of the Balance Scorecard, including financial, customer, internal process, and learning & growth. It also summarizes the origins and criteria of the Malcolm Baldrige framework for performance excellence, including the seven categories of leadership, strategic planning, customer focus, measurement/knowledge management, human resources, process management, and business results.
Techniques of Strategic Evaluation & Strategic Manik Kudyar
The document discusses strategic evaluation and control. It defines strategic evaluation as determining the effectiveness of a strategy in achieving objectives and making corrections. Key aspects of strategic evaluation include assessing internal/external factors, measuring performance, and taking corrective actions. Strategic control ensures the strategy and its implementation meet objectives. Techniques for strategic evaluation include gap analysis, SWOT analysis, PEST analysis, and benchmarking. Strategic control types are premise control, implementation control, strategic surveillance, and special alert control.
The document discusses strategic management. It begins with an overview of the strategic management process, including environmental analysis and forecasting. It then discusses the evolution of strategic management thinking over time from the 1950s to present. Various frameworks for environmental analysis are introduced, like Porter's Five Forces model and PEST analysis. Qualitative and quantitative methods of environmental forecasting are also summarized. The document outlines the strategic management process of defining the business, setting objectives, formulating strategies, implementing plans, and evaluating performance. It provides examples of growth strategies and discusses approaches to implementation.
Here are some potential responses students could provide:
1. Describe your role and responsibilities in the organization.
- I was an intern in the accounting department. My main responsibilities included assisting with monthly financial reporting, analyzing variances between budget and actual results, and preparing forecasts.
2. What types of managerial accounting information did you use in your role?
- I used budget reports, income statements, balance sheets, and cash flow statements to analyze financial performance and identify areas for improvement. I also looked at cost reports and analyzed overhead allocation.
3. How did the managerial accounting information help managers make decisions?
- The financial reports helped identify areas where costs were higher than expected so managers could take
The strategic management process involves several steps: 1) analyzing internal strengths and weaknesses as well as external opportunities and threats, 2) formulating a vision, mission, objectives and goals, 3) developing strategic alternatives, 4) selecting the best strategy, 5) implementing the strategy, and 6) evaluating and controlling the strategy through feedback. The document provides details on each step of the process and uses Hero Honda as an example to illustrate setting goals to increase market share.
This document discusses methods for measuring corporate performance, including the balanced scorecard and stakeholder measures. It outlines the advantages and limitations of each. The balanced scorecard takes a holistic view across four perspectives: learning and growth, internal business processes, customers, and financials. It aims to align business activities with organizational strategy but can fail if not properly communicated. Stakeholder measures evaluate performance based on key stakeholder groups' priorities but balancing different stakeholders' interests can be challenging. The document provides an in-depth examination of these two approaches to corporate performance assessment.
Methods and techniques of organization appraisallakhwinder Singh
This document discusses various methods and techniques for organizational appraisal, including value chain analysis, qualitative analysis, quantitative analysis, historical analysis, industry standards, benchmarking, and the balanced scorecard. It provides details on each method, such as how value chain analysis is used to identify a firm's most valuable activities, how quantitative analysis includes financial and non-financial measures, and how the balanced scorecard translates a business's vision into objectives in four key areas: financial, customer, internal processes, and learning and growth. The document aims to outline different approaches for evaluating an organization's internal environment and identifying strengths and weaknesses.
The document outlines the third phase of the strategy-making and executing process - crafting a strategy. It discusses that crafting a strategy involves entrepreneurship through identifying new opportunities or improving existing operations. When strategizing, a company studies trends, competitors' actions, and customer needs while exploring business possibilities from new technologies. The CEO, executives, CFO, division managers, and other department heads participate in crafting the strategy. Strategizing is now often a team effort as complex issues require input from various functions and backgrounds to strengthen the strategizing efforts and ensure those implementing it were involved in its crafting.
The document provides information on strategic management and business policy case analysis. It discusses objectives of business policy, components generally included in business policy like marketing and finance. It also outlines guidelines for preparing case analysis, including focusing on facts, data, assumptions, and opinions. Additional topics covered include using SWOT analysis and evaluating internal and external environmental factors.
1. Managerial accounting involves identifying, measuring, analyzing, interpreting, and communicating financial and non-financial information to assist managers in planning, directing, and controlling organizational activities.
2. Managerial accounting adds value to organizations by providing information for decision-making, planning, and controlling operations, assisting in directing activities, and motivating and measuring employee performance.
3. Managerial accounting differs from financial accounting in that it provides internal information for decision-making rather than external financial reports, and it focuses on supporting management rather than satisfying external reporting requirements.
Operationalizing strategy refers to the process of allocating resources to implement an organization's chosen strategy. This involves various management activities such as setting short-term objectives, developing functional tactics, establishing policies to guide decisions, allocating resources, managing conflicts, and empowering employees. Functional tactics translate broad strategies into specific actions for individual business functions. They require greater specificity and have a shorter time horizon than business strategies. Policies standardize routine decisions to clarify discretion and empower employees while ensuring consistency with strategy. Resource allocation, conflict management, training, and decentralized decision-making can empower employees to implement tactics, while peer-based control and performance tracking exercise control over empowered employees.
The document discusses various techniques for analyzing an organization's performance, including value chain analysis, quantitative analysis using financial ratios and non-financial metrics, comparative analysis against historical performance, industry norms, and benchmarks, and comprehensive analysis using tools like key factor rating, organizational capability profiling, and the balanced scorecard. Value chain analysis segments a company's activities into primary and support activities to understand where value is created. The balanced scorecard integrates financial and non-financial metrics across four perspectives: financial, customer, internal business processes, and learning and growth.
The document provides an overview of the strategic management process, which includes 4 main steps: 1) Environmental scanning of internal and external factors, 2) Strategy formulation by designing plans to acquire resources and formulating strategies, 3) Strategy implementation by translating strategies into organizational actions, and 4) Strategy evaluation by regularly assessing strategies and their results and taking corrective actions if needed. The environmental scanning involves analyzing internal elements like employees and resources as well as external factors like the industry, national environment, and macroeconomic/social influences to identify opportunities and threats.
1. Responsibility accounting is a system that measures the results of responsibility centers and compares them to expected outcomes. It helps managers record plans and performance.
2. There are four main types of responsibility centers: revenue centers, which measure output in monetary terms; cost centers, which measure inputs in monetary terms; profit centers, which measure both inputs and outputs; and investment centers, which measure inputs, outputs, and assets.
3. Key performance metrics for responsibility centers include return on investment, residual income, return on assets, and economic value added. These metrics help evaluate managerial performance based on profitability and investment.
Strategic evaluation and control is the final phase of strategic management. It operates at two strategic and operational levels to assess consistency with the environment and pursuit of strategy. The purpose is to evaluate strategy effectiveness in achieving objectives. It tests strategy effectiveness and keeps the organization on track to objectives through feedback and corrective actions. Strategic evaluation involves participants across the organization and provides lessons for new planning, though barriers like measurement difficulties must be addressed.
Organisational appraisal dr pramila patilShriram Patil
This document outlines various factors and methods for appraising an organization. It discusses organizational capability factors such as financial, marketing, operations, personnel, and information management. It also covers general management capability factors and factors affecting organizational appraisal like those that are strategist, organization, and environment related. Methods of organizational appraisal include internal analysis, comparative analysis, and comprehensive analysis.
The central idea behind SHRM is that all initiatives involving how people are managed need to be aligned with and in the support of the Organizational overall strategy. No Management is successful if its people is diverted from the vision and mission of the organization.
This document discusses performance management. It begins by defining performance measurement and management. It then discusses limitations of traditional performance measurement systems and introduces the Balanced Scorecard as an alternative framework. The Balanced Scorecard uses financial and non-financial metrics across four perspectives: financial, customer, internal processes, and learning and growth. It links objectives and measures across these perspectives to translate strategy into action. The document also discusses measuring performance for service organizations and non-profits using frameworks like the Results and Determinants model and Balanced Scorecard. It concludes by covering reward systems and their role in motivating employee performance.
The document discusses strategic management and strategy implementation. It covers key topics such as the strategic management process, organizational structure, resource allocation, strategic control systems, matching structure and control to strategy, and techniques for evaluating strategy. The strategic management process involves strategic planning, implementation, and control. Effective strategy implementation requires designing organizational structure and control systems, allocating resources, managing politics and conflict, and periodic evaluation of strategy. Strategic control systems provide managers with information to ensure strategy and structure are aligned and the organization is achieving its objectives.
This document summarizes key concepts from a textbook on strategic management. It discusses three main themes covered in the book: global considerations impacting strategic decisions, information technology as a strategic tool, and preserving the environment. It also outlines the strategic management process, benefits of good strategic management, and importance of ethics in business strategy.
The document is a user manual that describes purchasing processes in SAP MM, including purchase info records and source lists. It covers creating, displaying, changing, and deleting purchase info records, as well as creating source lists. The manual provides procedures for key purchasing transactions like ME11, ME12, ME13, and ME01.
Su01 parameters fico_guntupalliharikrishna Hari Krishna
This document contains a list of parameter IDs, their associated values, and short descriptions. Some of the parameter IDs and short descriptions include references to SAP modules like FI (Financial Accounting), document types, templates, and user-specific settings for areas like cash journal, general ledger, asset master data, and document display. The parameter values include codes, descriptions, and configuration details for entities like the company code, fiscal year, currency, chart of accounts, and more.
The document discusses strategic management. It begins with an overview of the strategic management process, including environmental analysis and forecasting. It then discusses the evolution of strategic management thinking over time from the 1950s to present. Various frameworks for environmental analysis are introduced, like Porter's Five Forces model and PEST analysis. Qualitative and quantitative methods of environmental forecasting are also summarized. The document outlines the strategic management process of defining the business, setting objectives, formulating strategies, implementing plans, and evaluating performance. It provides examples of growth strategies and discusses approaches to implementation.
Here are some potential responses students could provide:
1. Describe your role and responsibilities in the organization.
- I was an intern in the accounting department. My main responsibilities included assisting with monthly financial reporting, analyzing variances between budget and actual results, and preparing forecasts.
2. What types of managerial accounting information did you use in your role?
- I used budget reports, income statements, balance sheets, and cash flow statements to analyze financial performance and identify areas for improvement. I also looked at cost reports and analyzed overhead allocation.
3. How did the managerial accounting information help managers make decisions?
- The financial reports helped identify areas where costs were higher than expected so managers could take
The strategic management process involves several steps: 1) analyzing internal strengths and weaknesses as well as external opportunities and threats, 2) formulating a vision, mission, objectives and goals, 3) developing strategic alternatives, 4) selecting the best strategy, 5) implementing the strategy, and 6) evaluating and controlling the strategy through feedback. The document provides details on each step of the process and uses Hero Honda as an example to illustrate setting goals to increase market share.
This document discusses methods for measuring corporate performance, including the balanced scorecard and stakeholder measures. It outlines the advantages and limitations of each. The balanced scorecard takes a holistic view across four perspectives: learning and growth, internal business processes, customers, and financials. It aims to align business activities with organizational strategy but can fail if not properly communicated. Stakeholder measures evaluate performance based on key stakeholder groups' priorities but balancing different stakeholders' interests can be challenging. The document provides an in-depth examination of these two approaches to corporate performance assessment.
Methods and techniques of organization appraisallakhwinder Singh
This document discusses various methods and techniques for organizational appraisal, including value chain analysis, qualitative analysis, quantitative analysis, historical analysis, industry standards, benchmarking, and the balanced scorecard. It provides details on each method, such as how value chain analysis is used to identify a firm's most valuable activities, how quantitative analysis includes financial and non-financial measures, and how the balanced scorecard translates a business's vision into objectives in four key areas: financial, customer, internal processes, and learning and growth. The document aims to outline different approaches for evaluating an organization's internal environment and identifying strengths and weaknesses.
The document outlines the third phase of the strategy-making and executing process - crafting a strategy. It discusses that crafting a strategy involves entrepreneurship through identifying new opportunities or improving existing operations. When strategizing, a company studies trends, competitors' actions, and customer needs while exploring business possibilities from new technologies. The CEO, executives, CFO, division managers, and other department heads participate in crafting the strategy. Strategizing is now often a team effort as complex issues require input from various functions and backgrounds to strengthen the strategizing efforts and ensure those implementing it were involved in its crafting.
The document provides information on strategic management and business policy case analysis. It discusses objectives of business policy, components generally included in business policy like marketing and finance. It also outlines guidelines for preparing case analysis, including focusing on facts, data, assumptions, and opinions. Additional topics covered include using SWOT analysis and evaluating internal and external environmental factors.
1. Managerial accounting involves identifying, measuring, analyzing, interpreting, and communicating financial and non-financial information to assist managers in planning, directing, and controlling organizational activities.
2. Managerial accounting adds value to organizations by providing information for decision-making, planning, and controlling operations, assisting in directing activities, and motivating and measuring employee performance.
3. Managerial accounting differs from financial accounting in that it provides internal information for decision-making rather than external financial reports, and it focuses on supporting management rather than satisfying external reporting requirements.
Operationalizing strategy refers to the process of allocating resources to implement an organization's chosen strategy. This involves various management activities such as setting short-term objectives, developing functional tactics, establishing policies to guide decisions, allocating resources, managing conflicts, and empowering employees. Functional tactics translate broad strategies into specific actions for individual business functions. They require greater specificity and have a shorter time horizon than business strategies. Policies standardize routine decisions to clarify discretion and empower employees while ensuring consistency with strategy. Resource allocation, conflict management, training, and decentralized decision-making can empower employees to implement tactics, while peer-based control and performance tracking exercise control over empowered employees.
The document discusses various techniques for analyzing an organization's performance, including value chain analysis, quantitative analysis using financial ratios and non-financial metrics, comparative analysis against historical performance, industry norms, and benchmarks, and comprehensive analysis using tools like key factor rating, organizational capability profiling, and the balanced scorecard. Value chain analysis segments a company's activities into primary and support activities to understand where value is created. The balanced scorecard integrates financial and non-financial metrics across four perspectives: financial, customer, internal business processes, and learning and growth.
The document provides an overview of the strategic management process, which includes 4 main steps: 1) Environmental scanning of internal and external factors, 2) Strategy formulation by designing plans to acquire resources and formulating strategies, 3) Strategy implementation by translating strategies into organizational actions, and 4) Strategy evaluation by regularly assessing strategies and their results and taking corrective actions if needed. The environmental scanning involves analyzing internal elements like employees and resources as well as external factors like the industry, national environment, and macroeconomic/social influences to identify opportunities and threats.
1. Responsibility accounting is a system that measures the results of responsibility centers and compares them to expected outcomes. It helps managers record plans and performance.
2. There are four main types of responsibility centers: revenue centers, which measure output in monetary terms; cost centers, which measure inputs in monetary terms; profit centers, which measure both inputs and outputs; and investment centers, which measure inputs, outputs, and assets.
3. Key performance metrics for responsibility centers include return on investment, residual income, return on assets, and economic value added. These metrics help evaluate managerial performance based on profitability and investment.
Strategic evaluation and control is the final phase of strategic management. It operates at two strategic and operational levels to assess consistency with the environment and pursuit of strategy. The purpose is to evaluate strategy effectiveness in achieving objectives. It tests strategy effectiveness and keeps the organization on track to objectives through feedback and corrective actions. Strategic evaluation involves participants across the organization and provides lessons for new planning, though barriers like measurement difficulties must be addressed.
Organisational appraisal dr pramila patilShriram Patil
This document outlines various factors and methods for appraising an organization. It discusses organizational capability factors such as financial, marketing, operations, personnel, and information management. It also covers general management capability factors and factors affecting organizational appraisal like those that are strategist, organization, and environment related. Methods of organizational appraisal include internal analysis, comparative analysis, and comprehensive analysis.
The central idea behind SHRM is that all initiatives involving how people are managed need to be aligned with and in the support of the Organizational overall strategy. No Management is successful if its people is diverted from the vision and mission of the organization.
This document discusses performance management. It begins by defining performance measurement and management. It then discusses limitations of traditional performance measurement systems and introduces the Balanced Scorecard as an alternative framework. The Balanced Scorecard uses financial and non-financial metrics across four perspectives: financial, customer, internal processes, and learning and growth. It links objectives and measures across these perspectives to translate strategy into action. The document also discusses measuring performance for service organizations and non-profits using frameworks like the Results and Determinants model and Balanced Scorecard. It concludes by covering reward systems and their role in motivating employee performance.
The document discusses strategic management and strategy implementation. It covers key topics such as the strategic management process, organizational structure, resource allocation, strategic control systems, matching structure and control to strategy, and techniques for evaluating strategy. The strategic management process involves strategic planning, implementation, and control. Effective strategy implementation requires designing organizational structure and control systems, allocating resources, managing politics and conflict, and periodic evaluation of strategy. Strategic control systems provide managers with information to ensure strategy and structure are aligned and the organization is achieving its objectives.
This document summarizes key concepts from a textbook on strategic management. It discusses three main themes covered in the book: global considerations impacting strategic decisions, information technology as a strategic tool, and preserving the environment. It also outlines the strategic management process, benefits of good strategic management, and importance of ethics in business strategy.
The document is a user manual that describes purchasing processes in SAP MM, including purchase info records and source lists. It covers creating, displaying, changing, and deleting purchase info records, as well as creating source lists. The manual provides procedures for key purchasing transactions like ME11, ME12, ME13, and ME01.
Su01 parameters fico_guntupalliharikrishna Hari Krishna
This document contains a list of parameter IDs, their associated values, and short descriptions. Some of the parameter IDs and short descriptions include references to SAP modules like FI (Financial Accounting), document types, templates, and user-specific settings for areas like cash journal, general ledger, asset master data, and document display. The parameter values include codes, descriptions, and configuration details for entities like the company code, fiscal year, currency, chart of accounts, and more.
The document discusses leased assets and their accounting treatment. Leased assets remain the property of the lessor during the lease term and represent a special form of rented asset. Depending on the country and lease type, leased assets may need to be capitalized on the lessee's balance sheet. The SAP FI-AA module enables capitalizing leased assets using the capital lease method, which calculates the asset value as the present value of future lease payments. Leased assets can be treated as either capital leases, which are capitalized and depreciated, or operating leases, which are expensed as periodic rent payments.
Financial Planning, Budgeting, and Forecasting (2010)Nasreen Quibria
The document summarizes a webinar on financial planning, budgeting, and forecasting. It includes summaries of presentations by Cindy Jutras and Nasreen Quibria of Aberdeen Group on trends from their research surveys on the topic. It also summarizes a presentation by Jeffrey Frank of GROWMARK on their experiences with budgeting and how they have benefited from using a new budgeting software. The webinar addressed how companies approach budgeting and what capabilities are important for better performance.
The document provides guidance on creating, changing, displaying, and using internal orders in IRIS. Key points include:
- Internal orders allow subsets of costs and revenues to be tracked separately within a cost center or WBS element.
- They are created at the major organizational unit level using transaction KO01. Fields include order type, number, short text, and business area.
- Most expenditure and revenue documents allow internal order assignment. Exceptions are payroll, asset purchases, which use redistribution.
- Planning is available to plan amounts over multiple years, but budgeting is not. Internal order groups can be created for editing and reporting.
The document discusses bank accounting in SAP. It covers bank master data, which includes defining house banks, bank accounts, and the bank directory. It also covers check processing such as manual check deposit, printing checks, and changing or voiding checks. Additionally, it discusses electronic bank statements, including importing statement data, using posting rules and transactions to automatically post statements, and processing outstanding items on statements.
The document provides instructions for checking tables in SAP ERP before migrating to SAP Accounting powered by HANA. The instructions include using transaction se16n to display the tables faglflext, glt0, glt0_bck, bseg, and COEP and checking the field posnr in some of the tables.
SAP Controlling step by step Configuration Material.
advanced controlling training. learn sap controlling and become controlling consultant. for more details +91 9246212199, www.pagnatechnologies.com
IDoc (intermediate document) is a standard data structure used for electronic data interchange between SAP systems or between SAP and external programs. IDocs serve as containers for asynchronous data transfer in SAP's Application Link Enabling system. Each IDoc exists as a self-contained text file that can be transmitted without connecting to the central database. IDocs encapsulate data so it can be exchanged between different systems without format conversion. IDoc types define categories of data like purchase orders or invoices, which are further divided into specific message types to increase efficiency.
Financial and management accounting notes @ mba bkBabasab Patil
This document provides an overview of financial and management accounting. It discusses key topics such as the definition of accounting, the differences between financial and management accounting, accounting standards, books of accounts, financial statements, ratio analysis, fund flow statements, cash flow statements, budgeting, and capital budgeting. The document is divided into 6 units that will cover these various accounting concepts and techniques in more depth across 15 lessons.
Manufacturer and ascertaining applicability of CGST, SGST/UTGST and IGST on various categories of transactions types listed under the ‘As Is’ phase of work, based on the GST law.
BI-population CMA-ES Algorithms with Surrogate Models and Line SearchesIlya Loshchilov
This document describes recent work on improving covariance matrix adaptation evolution strategies (CMA-ES) for black-box optimization. It introduces several algorithms that use surrogate models to assist CMA-ES, including self-adaptive surrogate-assisted CMA-ES (saACM-ES). The key contributions discussed are:
1) Intensive surrogate model exploitation in BIPOP-saACM-ES-k, which allows for a smaller budget for surrogate-assisted search compared to previous methods.
2) Hybrid algorithms for optimizing separable and non-separable functions, including BIPOP-aCMA-STEP and HCMA.
3) Previous algorithms like BIPOP-saACM-ES and
This document discusses covariance matrix adaptation evolution strategy (CMA-ES), an optimization technique. It begins with an introduction to optimization and evolution strategies. CMA-ES adapts the covariance matrix of a multivariate normal distribution used to sample new solutions, allowing it to better model the objective function. The document covers step-size adaptation, cumulative step-size adaptation, and covariance matrix adaptation, with examples provided.
This was presented at Oracle's 11g R2 Live seminars in June. It allowed customers and partners to view the benefits of implementing or upgrading to Oracle's latest version of it's database and Advanced Technology products such as Real Application Clusters, Real Application Testing and Enteprise Manager.
PAÍS VERSIÓN INDIA, PAYS VERSION INDE, 国家版印度
CIN Domain Basic concepts
FI consultant steps in CIN configuration
CIN VS Service Tax
CIN VS TDS
CIN MM Configuration Steps
CIN SD Configuration Steps
J1I9 CIN Number range objects
Master Data for CIN
MM CYCLES
DEPOT PLANTS
CIN TABLES
CIN Forms
CIN NOTES
CIN ACCOUNTING ENTRIES
UTILIZATION
CIN/VAT/TDS/SERVICE -TAX List of Reports
TAXINN VS TAXINJ
CAPITAL Procurement in SAP
SD CYCLES
Miscellaneous Topics
The document provides information about the Certified Management Accountant (CMA) certification. The CMA credential demonstrates command of critical accounting and financial management skills demanded by businesses. It is designed specifically for accounting and financial professionals. The advantages of obtaining a CMA include worldwide recognition, career opportunities, higher salaries, and pride in a highly acclaimed certification. EMERGE Management Training Center offers CMA exam preparation courses in Dubai and discusses the benefits of their program, including interactive lectures and study materials.
CMA Architects & Engineers LLC provides design and construction management services for pharmaceutical, biotechnology, and medical device companies in Puerto Rico. They have over 50 years of experience working with most pharmaceutical companies in Puerto Rico, designing their original facilities as well as providing ongoing support. CMA specializes in facilities that meet global regulations like cGMP and FDA guidelines. They offer a range of services including master planning, manufacturing facilities design, laboratories, clean rooms, utilities optimization, and permitting assistance.
New GL parallel ledgers in asset accounting Hari Krishna
We can use parallel ledgers in asset accounting to value assets according to different accounting principles. The document outlines how to configure parallel ledgers for US GAAP and Indian GAAP valuations. Key steps include defining depreciation areas, assigning them to asset classes and general ledger accounts, and setting up periodic posting. Testing shows parallel acquisition and depreciation postings are made to the respective ledgers according to the depreciation areas assigned in the asset master. Retiring the asset then results in different gains/losses posted to each ledger.
The document discusses SAP's Joint Venture Accounting (JVA) software for tracking expenditures in joint ventures in the oil and gas industry. It states that SAP JVA allows users to track expenditures on a venture-by-venture and partner-by-partner basis in real-time. It is fully integrated with SAP modules like FI, CO, AM, MM, PP, and PS. Key features include detailed data capture, cash calls, partner billing, overhead calculations, and multi-currency support. The software also supports equity changes, farm-ins/farm-outs, and real-time gross/net venture reporting.
This document summarizes a presentation given by Kenneth Witt on elevating the role of the finance function. The presentation discusses how the finance function is evolving from transaction processing to providing more strategic decision support and business insights. It provides examples of high performing finance functions that have increased efficiency through automation and analytics to free up resources to take on more strategic responsibilities like operational and performance management. The presentation also identifies skills finance professionals need to develop, such as commercial and management skills, to take the finance function to the next level in supporting business strategy and decisions.
The document discusses using a Balanced Scorecard approach to help organizations better execute their strategies. It provides an overview of key challenges in strategic execution and explains how the Balanced Scorecard can help by translating strategy into objectives and measures across four perspectives: financial, customer, internal processes, and learning and growth. Examples of Balanced Scorecards for different organizations are also included to illustrate how objectives, measures, targets, and initiatives can be defined for each perspective.
Having trouble with your enterprise risk management strategy? Map it.Andrew Smart
In 2016, it was estimated that 67% of well-formulated strategies failed due to poor execution and 1 in 3 business leaders rate their firm as poor or very poor at the implementation of strategy.
Like business strategy, the risk management strategy presents execution challenges for the CRO and Risk Management teams.
Paraphrasing the original article that introduced the Strategy Map, in the presentation, Ascendore CEO outlines how the Strategy Map can be used as part of an overall strategy management system to improve the execution of the risk management strategy. This presentation is based on an Ascendore customers use of the Strategy Map for Operational Risk Management.
progrow Strategy Implementation Services for SMEsProServ
progrow is a strategy implementation service for SME’s specifically designed to guide and facilitate the strategy development process.
More details visit https://www.i-proserv.com/strategy-implementation/
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The Annual ClearAction Business-to-Business Customer Experience Management Benchmarking Study monitors the implementation of best practices in customer-focused management for sustainable high profitability.
This is a study of the journey to world-class performance in how business-to-business firms:
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THIS IS A SAMPLE OF SELECTED PAGES FROM THE REPORT
See http://ClearActionCX.com
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Learn the leadership, communication, and process mapping skills to accelarate your career.
When was the last time that someone wanted to pay you more for doing the same thing? Never.
The problem with being someone who maintains the status quo is that you aren't delivering value to your organization. If you want to earn more and grow faster, you need to find ways to identify problems and then lead teams to implement solutions.
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https://benjaminwann.com/blog
Order the book here:
https://www.amazon.com/dp/B093QF4DD4
Check out my BPI- Business Process course on Udemy!
https://www.udemy.com/course/business-process-improvement-and-process-mapping/?referralCode=9A549649145AD26A9D06
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Similar to Strategic Management Accounting for Business and Career Success (20)
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Strategic Management Accounting for Business and Career Success
1. Kenneth Witt, CPA, CGMA
AICPA Technical Manager, Management Accounting
Accounting Skills at the Crossroads: Strategic Management Accounting for Business and Career Success
Beta Alpha Psi Annual Meeting
August 9, 2014
2. 2
Kenneth W. Witt, CPA, CGMA
Technical Manager, Management Accounting in the Business Industry and Government team at the AICPA.
Staff liaison to the Business & Industry Executive Committee which provides insight and guidance on professional issues and trends
Involved in thought leadership and professional development activities for the Chartered Global Management Accountant (CGMA) designation.
Managed the development of a portfolio of guidelines on strategy, risk and performance management topics
Launched the AICPA Sustainability Initiative
Created and manages the AICPA Business & Industry Economic Outlook Survey
Member of the task force for the COSO Internal Control over Financial Reporting – Guidance for Smaller Public Companies
BBA in accounting from the University of Iowa; Started career with Touche Ross & Co.
3. 3
Agenda
Complexity and Competencies
What is Management Accounting? What do Management Accountants Do?
Business Strategy Game – Kadgee Clothing
Management Accounting – Skills at the Crossroads
Fast Track to Leadership - Challenges, Opportunities, Action Plan
5. 5
Complexity is increasing
AICPA Business and Industry Economic Outlook Survey Q2 2014
CPA decision makers (primarily CFOs, CEOs and Controllers)
Given the changing US and global economic and regulatory environment…
6. 6
…how would you gauge the change in the level of general business complexity that you and your business have experienced over the past 3 years?
Significantly more complex 30%
Moderately more complex 38%
Slightly more complex 25%
No change in complexity 7%
Slightly less complex 0%
More Complex = 93%
7. 7
Significantly more complex 32%
Moderately more complex 40%
Slightly more complex 22%
No change in complexity 5%
Slightly less complex 1%
Even More Complex = 96%
…looking ahead 3 years, how do you see the level of general business complexity changing?
8. 8
And… The role of finance is changing
In addition to traditional financial accounting and reporting…
9. 9
…what areas have become your focus?
39%
41%
43%
44%
46%
55%
58%
67%
0%
10%
20%
30%
40%
50%
60%
70%
Human Resources
Pricing and Cost Analysis
Tax Strategy and Planning
Legal and Compliance
Management/Governance
Acctg Information Systems
Strategic Business Planning
Risk Management and I/C
10. 10
And the role is changing Not just for senior executives
For recent graduates and new finance professionals, how important are…
11. 11
…business skills, people skills and leadership skills that you would not have expected or required in the past for the same role?
Somewhat important 22%
Not very important 2%
Very Important =
76%
13. 13
What do employers need?
Pathways Commission
Education
14. 14
Management Accounting
Management accountants combine accounting and financial expertise with strategic insight to guide better business decisions.
Management accountants are business professionals at the heart of decision-making, who “connect the dots” and recognize how the different parts of the business need to come together to create value.
Management accounting is the practical science of value creation within organizations in both the private and public sectors.
Their understanding and experience of business goes well beyond financial accounting
15. 15
What do management accountants do?
Leverage their expertise to help businesses by:
developing business strategy
making sound investment choices
protecting corporate assets
supporting the management of risk
managing relationships – internal and external
communicating with key stakeholders
assuring high organizational integrity
19. 19
CGMA Business Game
Your Role
•You are the Senior Manager of Finance, reporting directly to the CFO Major Stakeholders
•CEO
•Board of Directors
20. Company Info
•US-based clothing manufacturer, est. 1952 - 6 manufacturing facilities in US selling directly to key customers
•Well-designed, well-finished ladies and children’s clothing at medium to higher end of market – quality is key which is main reason for keeping manufacturing in US
•Firm grew well until the 1990’s – Margins slipped due to changes in retailing and global competition -Losses until 2002 - efficiency measures and introduction of new design center in US increased profitability
•Facing hostile competitive environment – considerable buyer power of large customers driven by lower cost and increasing quality of imports, especially from China
Kadgee Clothing Pre-read info
21. New Resource – Trigger 1
Email from Sales Director Dieter Kubiak
Second major customer withdraws contract
22. “Red is the New Black”
Business Scenario
•2nd largest client withdraws its contract
•34 lay offs already – more to come?
•Morale is low, quality is falling Current Strategy
•Depending on small number of key contracts
•Responsive action to competition is to increase efficiency
•Price is main bargaining tool
23. Task
Prepare a presentation for the CFO to present to the CEO prioritizing the 3 main challenges facing Kadgee Clothing, and make appropriate recommendations on how to proceed.
15 mins
24. Kadgee Clothing – possible issues and recommendations
•Wage cuts / layoffs
•Factory closings
•Outsourcing / offshoring
•New product lines / new target markets
•Sell directly to public – online
•Other
What are the implications?
Costs? Competitors? Potential Revenues? Risks?
25. 25
The CGMA Exam Process - 2015
Trigger #1
New Resources
Tools
Task #1
Pre-Exam Research
Case Study Examination
Response
# 1
Role Simulated
Stakeholders
Company Information
Scenario
Trigger #2
New Resources
Tools
Task #2
Response
# 2
Trigger #3
New Resources
Tools
Task #3
Response
# 3
6 weeks prior exam
0-1 hour
1-2 hour
2-3 hour
Illustrative process only.
Pre-read timing may change. Number of ‘triggers’ or tasks that are presented to students in the three hour exam may be between three and six and various length.
28. 28
Strategy and The Business Model
How do we make money?
Customer Value
Profit Margin
Processes
29. 29
Building World Class Businesses: For the Long-term
World-Class Businesses focus on:
Clear Strategy
Satisfied Customers
Cost Leadership
Durable Supply Chain
Motivated Staff
Innovation
30. 30
Managing Innovation and Risk
Finance as business partner throughout the innovation lifecycle
31. 31
The role of finance throughout the innovation lifecycle
Leading innovation and managing risk
Managing Innovation- 2013 CGMA
32. 32
Big Data and Business Intelligence
From Insight to Impact: Unlocking the opportunities of big data
Focuses on finance role in linking decisions to data
Key questions:
What drives the business?
What do customers care about most?
33. 33
What is Big Data?
Levels of Analysis
Scale and Complexity of Data
34. 34
Managing Big Data
The three Vs
Volume
Velocity
Variety
SAS.com
Also
Variability
Complexity
35. 35
Management Accountant and Big Data
Reduce Costs
Increased Efficiency
Driver –Based Forecasting
Develop and Monitor KPIs
Increase Revs – Customer Segmentation
Monitor External Risks
38. 38
COSO Internal Control – 2013 Update
Why the update?
Expectations for governance and oversight are greater
Globalization
Complexity
Technology
Expectations for fraud prevention and detection
2013 COSO CUBE
39. 39
COSO Enterprise Risk Management -ERM
Aligning risk appetite and strategy
Enhancing risk response decisions – risk avoidance, reduction, sharing, and acceptance
Reducing operational surprises and losses
Identifying and managing multiple and cross- enterprise risks
Seizing opportunities
Improving deployment of capital
ERM Cube
40. 40
Sustainability Accounting and Reporting
Triple Bottom Line
Economic viability
Social responsibility
Environmental responsibility
41. 41
Integrated Reporting
Key Concepts of Integrated Reporting
The use of “capitals”
The creation of value
The definition of the organization’s business model
International Integrated Reporting Committee
47. 47
How Emotional Intelligence Drives Performance
Daniel Goleman Hay McBer
Personal Competence
How we manage ourselves
Social Competence
How we manage our relationships