Introduccion Al Magement

Introduction to Management
Accounting
2007 Prentice Hall Business Publishing, Introduction to Management Accounting 14/e, Horngren/Sundem/Stratton
1-1
tice Hall Business Publishing, Introduction to Management Accounting 14/e, Horngren/Sundem/Stratton/Schatzberg/Burg
Introduction to Management
Accounting
Chapter 1
Managerial
Managerial
Accounting,
Accounting, the
the
Business
Business
Organization,
Organization, and
and
Professional
Professional
1-2
Learning
Objective 1
Users of Accounting
Information
Management
Accounting
Internal managers
Financial
Accounting
External Users
Investors:
Stockholders
Creditors:
Day-to-day operating decisions
Suppliers
Long-range strategic decisions
Bankers
Government Authorities
1-3
Decision Making
Scorekeeping:
Evaluate
Organizational
Performance
Attention Directing:
Compare Actual
Results to Expected
Problem
Solving:
Assess
Possible
2007 Prentice Hall Business Publishing, Introduction to Management Accounting
14/e, Horngren/Sundem/Stratton
Courses
of
Action
1-4
Accounting Information System

Process of gathering, organizing, and
Communicating financial information
Financial
Statemen
ts
1-5
Influences on Accounting Systems

Generally accepted accounting principles (GAAP)
Foreign Corrupt Practices Act
Internal controls
Internal auditors
Sarbanes-Oxley Act
Management audits
1-6
Learning
Objective 2
Sarbanes-Oxley Act
In 2002, the Sarbanes-Oxley Act required
chief executive officers to sign a
statement verifying the accuracy of
the companys financial statements.
External auditors must examine and report

on the companys internal control system.
1-7
Ethics
Reliability
Trust
Integrity
No regulation can be as effective in

ensuring reliability as high ethical
standards of accountants.
1-8
Service and Nonprofit Organizations

Service
organizations
Accounting firms
Law firms
Real estate firms
Banks
Hotels
Nonprofit
organizations
Hospitals
Schools
Libraries
Museums
Government agencies
1-9
Learning
Objective 3
Cost-Benefit and Behavioral

Considerations
Cost-benefit
balance
Behavioral
implications
The system must provide
accurate, timely budgets and
performance reports in a form
useful to managers.
Weigh estimated
costs against
probable benefits.
Managers must use accounting

reports, or the reports
create no benefits.
1 - 10
ice Hall Business Publishing, Introduction to Management Accounting 14/e, Horngren/Sundem/Stratton/Schatzberg/Burgs
Decision Making
Decision making: the purposeful choice
from among a set of alternative courses
of action designed to achieve some objective.
Planning: Setting
Control:
objectives and
Implementing plans
outlining how the
and using feedback
objectives will be
to evaluate the
obtained.
attainment of
objectives.
1 - 11
Learning
Objective 4
The Nature of Planning and

Controlling
Corrections and revisions of plans and actions
Management
Process
Planning
Planning
Increase
Increase
Profitability
Profitability
Control
Control
Actions
Actions
Evaluations
Evaluations
Internal Accounting
System
Budgets,
Budgets,
Special
Special
Reports
Reports
Accounting
Accounting
System
System
Performance
Performance
Reports
Reports
Other
information
systemsCustomer
Customer
surveys
surveys
Competitor
Competitor
analysis
analysis
Advertising
Advertising
impact
impact
New
New items
items
report
report
1 - 12
Budget and Performance Reports

Budget: quantitative expression of a plan of action
Performance reports:
compare actual results with budgeted amounts
provide feedback by comparing results with plan
highlight variances
Variances: deviations from plans

1 - 13
Performance Reports
Mayfair Starbucks Store, March 31, 20X7
Sales
Less:
Ingredients
Store labor
Other labor
Utilities, etc.
Total expenses
Operating income
Budget
$50,000
Actual
Variance
$50,000
22,000
12,000
6,000
4,500
$44,500
$ 5,500
24,500
11,600
6,050
4,500
$46,650
$ 3,350
$2,500
400 F
50 U
0
$2,150 U
$2,150 U
U= Unfavorable actual exceeds budget

2007
Hall Business
Publishing,
Introduction
to Management
14/e, Horngren/Sundem/Stratton
F Prentice
Favorable
actual
is less
than Accounting
budget.
1 - 14
Product Life Cycle

Product life cycle refers to the various
stages through which a product passes.
No Sales
Product
Sales Growth
Developme Introduction to
nt Market
Low sales No
sales
Stable Sales Level
Phase-out
Mature Market
Product
1 - 15
Econ. Can Help Explain Life-Cycle:

1. Returns to Scale in Production (the Cost
Side)
a. U-Shaped Average Cost Curve
b. Demand can cut Average Cost at
Decreasing or Increasing Average Costs
2. Network Returns to Scale in Demand
a. User-Networks Build Value
b. Learning Curves and Lock-In
c. Microsoft Case (see articles by Paul
Krugman and Brian Arthur)
1 - 16
The Value Chain
Service
Service
Research
Research
and
and
Development
Development
Product
Product
And
And
Service
Service
Process
Process
Design
Design
Customer
Customer
Focus
Focus
Distribution
Distribution
Production
Production
Marketing
Marketing
1 - 17
Learning
Objective 5
Management Accountants
Role as
Internal Consultant
Collects
and compiles
information
Prepares
standardized
reports
Internal
Consultant
Interprets and
Analyzes information
Is Involved
In decision making
Management
1 - 18
Organizational Authority and

Responsibility
Line managers:
directly involved with
making and selling
products or services.
Staff managers: Advisory

Support line managers.
Cross-functional teams: Found in

modern, flatter organizations;
Functional areas work together
In decision making process.
1 - 19
Learning
Objective 6
Accounting Function
Chief
Chief Financial
Financial Officer
Officer (CFO)
(CFO)
Controller
Controller Functions
Functions
Planning for control
Planning for control
Reporting and interpreting

Reporting and interpreting
Evaluating and consulting
Treasurer
Treasurer
Functions
Functions
Provision of capital
Provision of capital
Investor relations
Investor relations
Short-term financing
Short-term financing
Evaluating and consulting
Banking and custody
Tax administration
Banking and custody
Tax administration
Credits and collections
Government reporting
Credits and collections
Government reporting
Investments
Protection of assets
Investments
Protection of assets
2007 Prentice
Hall Business Publishing, Introduction to Management
Accounting 14/e, Horngren/Sundem/Stratton
Risk
Economic
Riskmanagement
management(insurance)
(insurance)
Economicappraisal
appraisal
1 - 20
Learning
Objective 7
Career Opportunities in Management

Accounting
The Certified Management Accountant (CMA)
CMAs must pass a four-part examination:

1. Business Analysis
2. Management accounting and reporting
3. Strategic Management, and
4. Business Applications.
1 - 21
Learning
Objective 8
Management Accounting Change

Drivers
Shift from a manufacturing-based
to a service-based economy
Increased global competition
Advances in technology
Changes in business processes
1 - 22
Major Influences on Management

Accounting
Advances in technology:
E-commerce
Enterprise resource planning (ERP)
Business process reengineering:

Just-in-time (JIT) philosophy
Lean manufacturing
Computer-integrated manufacturing
Six sigma
1 - 23
Learning
Objective 9
Standards of Ethical Conduct
The
The Institute
Institute of
of Management
Management Accountants
Accountants (IMA)
(IMA)
Statement
Statement of
of Ethical
Ethical Professional
Professional Practice
Practice for
for
Management
Management Accounting
Accounting Members
Members
Requires
Requires members
members to
to adhere
adhere
to
to aa code
code of
of conduct
conduct regarding:
regarding:
Competence,
Competence,
Confidentiality,
Confidentiality,
Integrity,
Integrity, and
and
Credibility.
Credibility.
1 - 24
Ethical Dilemmas
Managers must choose an alternative and there
are:
Significant value conflicts among differing
interests.
Real alternatives that are all justifiable, and
Significant consequences on stakeholders in
the situation.
1 - 25
Unethical Behavior Temptations
Emphasis on short-term results:

Pressure to meet expected profit
numbers.
2. Ignoring the small stuff:
Large misdeeds often result from many
small ones.
3. Economic cycles:
A downturn market can reveal what an upturn market
conceals.
Vigilance in all stages of economic markets maintains high
ethical standards.
4. Accounting
rules
Avoid creative interpretations of the rules.
Practice full and fair disclosure to convey companys performan
1.
1 - 26
The End
End of Chapter 1
1 - 27

Introduccion Al Magement

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Introduccion Al Magement

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Introduction to Management

Accounting Information System

Influences on Accounting Systems

External auditors must examine and report

No regulation can be as effective in

Service and Nonprofit Organizations

Cost-Benefit and Behavioral

Managers must use accounting

The Nature of Planning and

Corrections and revisions of plans and actions

Budget and Performance Reports

Variances: deviations from plans

U= Unfavorable actual exceeds budget

Product Life Cycle

Econ. Can Help Explain Life-Cycle:

The Value Chain

Organizational Authority and

Staff managers: Advisory

Cross-functional teams: Found in

Reporting and interpreting

Career Opportunities in Management

CMAs must pass a four-part examination:

Management Accounting Change

Major Influences on Management

Business process reengineering:

Standards of Ethical Conduct

Unethical Behavior Temptations

Emphasis on short-term results:

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