Managers carry out 3 major activities- planning, directing and motivating, controlling.
I. Planning- establishing a basic strategy, selecting a pedigree of action, and specifying how the action will be implemented.
A. An important part is to place alternatives and then select from among the alternatives the one that best fits the organizations strategy and objectives.
1. chess opening a new store- enormous amt of time and energy
B. Look at the sales volume, profit margins, and cost; impact revenues or costs.
C. Budgets ar usually prep ard under the direction of the controller, who is the manager in charge of the Accounting Department. Budgets are prepared annually and construe managements plan in specific, quantitative terms.
II. guiding and Motivating- mobilizing people to carry out plans and run routine operations.
D. charge tasks to employees, arbitrate disputes, answer questions, solve on-the-spot problems, and make umpteen small decision that affect customers and employees.
E. Managerial accounting info are used in day-to-day activity.
III. Controlling- ensuring that the plan is in truth carried out and is appropriately modified as circumstances change.
F. Feed support is the unwrap to effective control.
G. Performance report compares budgetes to actual results. It suggests where operations are not proceeding as planned and where some split of the organization may require additional attention.
2. Actual results take place below the targets, more attention
The planning and Control Cycle
* Involves the smooth function of management activities from planning through directing and motivating, controlling, and then back to planning again.
I. Managerial accounting- concerned with providing information to managers
A. Strong incoming orientation.
B. Relevant- appropriate for the problem at hand.
C. Less emphasis on precision;...If you want to get a full essay, rear it on our website: Orderessay
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