Feedback in the form of performance reports that compare actual results with the budget are an essential part of the control function?. Feedback in the form of performance reports?[r]
(1)PowerPoint Authors:
Susan Coomer Galbreath, Ph.D., CPA Charles W Caldwell, D.B.A., CMA Jon A Booker, Ph.D., CPA, CIA Cynthia J Rooney, Ph.D., CPA
Copyright © 2014 by The McGraw-Hill Companies, Inc All rights reserved.
Managerial Accounting: An Overview
(2)(3)1-3
Work of Management
Planning Planning
Decision Making Decision
(4)Planning
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Controlling
The control function gathers feedback to ensure that plans are being followed The control function gathers feedback to
ensure that plans are being followed
Feedback in the form of performance reports that compare actual results with the budget are an essential part of the control function Feedback in the form of performance reports
(6)Decision Making
Decision making involves making a selection among
competing alternatives What should
we be selling? What should we be selling?
Who should we be serving?
Who should we be serving?
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Managerial Accounting Activities:
Marketing Majors
How many salespeople should we plan to hire to serve a new
territory?
How many salespeople should we plan to hire to serve a new
territory?
How much should we budget for TV, print, and internet advertising?
How much should we budget for TV, print, and internet advertising?