Beruflich Dokumente
Kultur Dokumente
Chapter: 1
Study Objectives:
Managerial accounting provides information for managers inside an organization who direct and control its operations.
Financial accounting provides information to stockholders, creditors and others who are outside the organization.
Managerial Accounting
Managers who plan for and control an organization Future emphasis Emphasis on relevance for planning and control Emphasis on timeliness Focuses on segments of an organization Need not follow GAAP or any prescribed format
Just-In-Time
Total Quality Management Process Reengineering
Theory of Constraints
Schedule production. Receive materials just in time for production. Complete parts just in time for assembly into products.
JIT Consequences
Improved plant layout Zero production defects
Flexible workforce
JIT purchasing Fewer, but more ultrareliable suppliers. Frequent JIT deliveries in small lots. Defect-free supplier deliveries.
Decreased throughput
Plan
If successful, make the change permanent. If the results are not successful, try again.
Act
is
Do
Check
Evaluate the data collected during the Do phase. Did the expected improvement occur?
Process Reengineering
A business process is diagrammed in detail.
Anticipated results: Process is simplified. Process is completed in less time. Costs are reduced. Opportunities for errors are reduced. The process is redesigned to include only those steps that make our product more valuable.
End of Chapter 1