Class Notes For Cost Accounting, 15th Edition

Class Notes For Cost Accounting, 15th Edition makes studying stress-free by organizing important topics in a clear and concise manner.

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1-1Copyright © 2015 Pearson Education, Inc.The Manager and ManagementAccountingTRANSITION NOTESThis chapter introduces the five-step decision process utilized by managers to make a varietyof decisions. This process becomes an underlying theme of the text as it is applied to anumber of types of decisions throughout the text. The five steps include (1)identify theproblem and uncertainties, (2) obtain information, (3) make predictions about the future, (4)make decisions by choosing among alternatives,and(5) implement the decision. With theemphasis on the five-step decision process, material relating to theproblem-solving,scorekeeping, and attention-directing roles of the management accountant arestreamlined.There is also an increased emphasis on the linkage between the set of business functions inthe value chain and customer expectations as key success factors.PROBLEM MATERIALCORRELATION CHART15thEdition14thEdition15thEdition14thEdition16161717181819192727Revised2020Revised28 New28Revised2121Revised2929Revised2222Revised3030 Revised2323Revised31 New32 New33 New34 New35 New36 New31 RevisedI.LEARNING OBJECTIVES1.Distinguish financial accounting from management accounting.2.Understand how management accountants affect strategicdecisions.3.Describe the set of business functions in the value chain and identify thedimensions of performance that customers are expecting of companies.4.Explain the five-step decision-making process and its role in managementaccounting.5.Describe three guidelines management accountants follow in supportingmanagers.6.Understand how management accounting fits into an organization’s structure.7.Understand what professional ethics mean to management accountants.1

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Cost Accounting by Charles T. Horng...

Class Notes For Cost Accounting, 15th Edition

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