management accounting 1 syllabus--read this carefully. it is a contract
TRANSCRIPT
Management Accounting 1
Syllabus--Read this carefully. It is a contract.
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Professor Daly’s Website
Syllabus, lecture notes, quiz and test grades, etc.
http://kbiz.khu.ac.kr/professor/12.php
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Classroom Conduct
Class starts promptly at:10:30 for sections A0309602
1:30 for sections A0309603
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Classroom Conduct
You are expected to prepare for class: Read the chapter in textbook Write answers to assigned
questions, exercises and problems.
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Classroom Conduct
Bring your textbook and a calculator to class.
No computer use during class.Show respect for me and your
classmates by turning off your cell phone prior to class.
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Required text: Managerial
Accounting, 13th Edition,Garrison Noreen, and Brewer, International Edition
Connect, online program, access code included on postcard inserted in textbooks sold at university bookstore
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
To Register for Connect
On the worldwide web, go to the online address (URL) for your section of the course.
(Address distributed in class)
Enter the access code, and other items requested
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Connect URL for assistance
http://mpss.mhhe.com/connectlinks.php
This site provides instructions for registration and using Connect
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Connect Assignments
Assignments preceded by a barbell symbol are for Practice.
These may be completed at any time, may be re-worked with different fact patterns, and are ungraded.
Practice with these before attempting the graded assignments.
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Connect Assignments
Assignments preceded by a “page” symbol are graded.
Must be completed by the end date indicated in the Availability column---only 1 attempt permitted.
Due by midnight on Friday of the week in which assigned.
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Additional Online Learning
For supplemental material such as:
chapter outlines
videos
practice quizzes
www.mhhe.com/garrison13e
Managerial Accounting and the Business Environment
Chapter 1
Managerial Accounting and Financial Accounting
Managerial accountingprovides informationfor managers of anorganization whodirect and control
its operations.
Financial accountingprovides information
to stockholders,creditors and others
who are outsidethe organization.
Expanding Role of Managerial Accounting
Increasing complexity andsize of organizations
Rapid development andimplementation of technology
Regulatoryenvironment
World-widecompetition
Increasedemphasison quality
Factors thatincrease the need for
managerial accountinginformation
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Traditional “Push”Manufacturing Company
Forecast Sales Order components
Produce goods in Anticipation of Sales
Make Sales from Finished Goods
Inventory
Store Inventory
StoreInventory
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Traditional “push”manufacturing
Traditional “Push”Manufacturing Company
Largeinventories
Finishedgoods
Rawmaterials
Work inprocess
Materials waitingto be processed.Materials waitingto be processed.
Completed products awaiting sale.
Completed products awaiting sale.
Partially completed products requiring more work before
they are ready for sale.
Partially completed products requiring more work before
they are ready for sale.
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Lean Production
Exhibit1-6
The lean thinkingmodel is a fivestep approach.
The lean thinkingmodel is a fivestep approach.
Identify valuein specific
products/services.
Identify valuein specific
products/services.
Identify thebusiness process
that delivers value.
Identify thebusiness process
that delivers value.
Organize workarrangements around
the flow of thebusiness process.
Organize workarrangements around
the flow of thebusiness process.
Create a pullsystem that respondsto customer orders.
Create a pullsystem that respondsto customer orders.
Continuously pursueperfection in the
business process.
Continuously pursueperfection in the
business process.
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
Customer Places an Order
Create Production Order
Generate Component Requirements
Production Begins as Parts Arrive
Goods Delivered when needed
Components are Ordered
Lean ProductionThe five step process results in a “pull” manufacturing system
that reduces inventories, decreases defects, reduceswasted effort, and shortens customer response times.
The five step process results in a “pull” manufacturing systemthat reduces inventories, decreases defects, reduceswasted effort, and shortens customer response times.
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
A constraint (also called a bottleneck) is anything that prevents you from getting more of what you want.
The Theory of Constraints is based on the observation that effectively managing the constraint is the key to success.
The constraint in a system is determinedby the step that has the smallest capacity.
The constraint in a system is determinedby the step that has the smallest capacity.
Theory of Constraints
© The McGraw-Hill Companies, Inc., 2000Irwin/McGraw-Hill
4. Recognize that the weakest linkis no longer so.
4. Recognize that the weakest linkis no longer so.
1. Identify the weakest link.
1. Identify the weakest link.
2. Allow the weakest link to set the tempo.
2. Allow the weakest link to set the tempo.
3. Focus on improving
the weakest link.
3. Focus on improving
the weakest link.
Only actions that strengthen the weakest link in the “chain” improve the process.
Theory of Constraints
Importance of Ethicsin Accounting
Ethical accounting practices build trust and promote loyal, productive relationships with users of accounting information.
Many companies and professional organizations, such as the Instituteof Management Accountants (IMA),have written codes of ethics whichserve as guides for employees.
IMA Code of Ethics for Management Accountants
Competence
Confidentiality
Integrity
Credibility
Resolution of Ethical Conflict
Competence
Confidentiality
Integrity
Credibility
Resolution of Ethical Conflict
IMA Code of Ethics for Management Accountants
Follow applicable laws, regulations and
standards.
Prepare complete and clear reports after appropriate
analysis.
Maintain professional
knowledge and skills.
Competence
IMA Code of Ethics for Management Accountants
Do not disclose confidential information unless legally
obligated to do so.
Ensure that subordinates do not disclose confidential
information.
Do not use confidential
information for personal
advantage.
Confidentiality
IMA Code of Ethics for Management Accountants
Avoid conflicts of interest and advise others of potential conflicts.
Recognize and communicate personal and
professional limitations.
Do not subvert organization’s
legitimate objectives.
Integrity
IMA Code of Ethics for Management Accountants
Integrity
Avoid activities that could affect your ability to
perform duties.
Communicate unfavorable as well as favorable information.
Refrain from activities that could
discredit the profession.
Refuse gifts or favors
that might influence behavior.
IMA Code of Ethics for Management Accountants
Credibility
Disclose deficiencies or delays
in information, timeliness, or internal controls
IMA Code of Ethics for Management Accountants
Credibility
Communicate information fairly and objectively.
Disclose all information that might be useful to
management.
Resolution of Ethical Conflict
Follow established policies.
For unresolved ethical conflicts:
Discuss the conflict with immediate superior.
If immediate superior is the CEO, consider the board of directors or the audit committee.
Except where legally prescribed, maintain confidentiality.
IMA Code of Ethics for Management Accountants
Resolution of Ethical Conflict
Clarify issues in a confidential discussion withan objective advisor.
Consult an attorney as to legal obligations.
The last resort is to resign.
IMA Code of Ethics for Management Accountants