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Rsm222 Study Note

In: Business and Management

Submitted By zhangsuz
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Managerial Accounting: process of identifying, measuring, analyzing, interpreting and communicating info.
Major activities of managers: planning, controlling, directing and motivating, decision making.

PLANNING: Identify alternatives-----select best-----develop budgets
Directing and Motivation * Employee work assignments * Routine problem solving * Conflict resolution * Effective communication * Controlling: * -ensure that plans are being followed. * -ie. Feedback between actual and budget is essential part of it. * * Strategy * -the focal point of a co’s strategy should be its target customers. * Customer Value propositions * Customer Intimacy Strategy * -understand and respond to customers needs * Operational Excellence Strategy * -deliver products and services faster, conveniently,lower price * Product Leadership Strategy * -higher quality goods * * Financial vs. Managerial Accounting * 1 users: external users vs. plan & control for internal use * 2 Time: Historical vs. Future * 3 objectivity and verifiability vs.relevance * 4 precision vs. timeliness * 5 subject companywide vs. segment * 6 rules GAAP/IFRS vs. not bound by any prescribed format * 7requirement mandatory for external reports vs. not mandatory * * Process Management * Four approach to improve * -lean production * -six sigma (rely on feedback and fact-based data) * -enterprise systems * -risk management * * Traditional Push Manufacturing Company * -estimate sales and order components, make sales from finished goods inventory * * Lean Production(JIT)(pull) * -customer place order and then create production order. * * CPA Ontario provides professional ethical...

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...Course Outline RSM222H1S Management Accounting I Winter 2016 Class time, location, and instructor Tutorial time and location Instructor contact information L0301 L0401 L0501 L0601 L5101 L0101 L0901 L0201 L1001 L0701 L0801 L1101 T0101 T0201 T0301 T0401 T0501 T0601 T1201 T0701 T0801 T0901 T1001 T1101 Tuesday Tuesday Tuesday Tuesday Tuesday Wednesday Wednesday Wednesday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Friday Friday Friday Friday Friday 10-12pm 12-2pm 2-4pm 4-6pm 6-8pm 2-4pm 4-6pm 6-8pm 8-10am 10-12pm 12-2pm 4-6pm 10-11am 11-12pm 12-1pm 1-2pm 2-3pm 3-4pm 4-5pm 9-10am 10-11am 11-12pm 12-1pm 1-2pm WO 25 WO 25 WO 25 WO 25 SS 2127 WO 20 WO 20 WO 20 WO 35 SS 1070 SS 2108 GB 244 SS 2110 SS 2110 WW 126 WW 126 WO 30 SS 562 UC 52 WO 30 WO 30 WO 30 WO 35 WO 35 Gus De Franco Gus De Franco Eszter Palancz Eszter Palancz Amy Kwan Eszter Palancz Amy Kwan Eszter Palancz Donna Losell Ross Lu Amy Kwan Amy Kwan Gus De Franco (course coordinator), Donna Losell, Amy Kwan, Eszter Palancz, Eszter.Palancz@Rotman.Utoronto.Ca Ross Lu, Ross.Lu12@Rotman.Utoronto.Ca 1 Office hours Gus De Franco Donna Losell Eszter Palancz Amy Kwan Ross Lu By appointment, RT537 By appointment, RT529 Wednesday 4:30pm-5:30pm,...

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