Abc vs Traditional Method
College of Management
Applied Managerial Accounting
Summer 2013
SCM610
Instructor: Dr.Damron, Sandra
ASSIGNMENT # 1
By : Ahmed Hassan Zahmuwl
Chapter 1: 3, 6, 7, 18, 24, 26 1-3 List and define the four basic management activities? Planning
Planning is the ongoing process of developing the business ' mission and objectives and determining how they will be accomplished. Planning includes both the broadest view of the organization (its mission), and the narrowest (a specific tactic for achieving a specific objective). Organizing
Organizing is the process of converting plans into action. Organizing can include creating a list of duties, developing deadlines and timetables for work, assigning tasks, determining and assembling the necessary resources and carrying out the plan. It is the organizing function that most people think about when they think of management. The organizing function is also where the process of supervising others and assigning authority occurs Leading
Leading is the act of directing the behavior of all personnel to accomplish the organization 's mission and goals. In order for the goals to be achieved, a shared vision and a clear understanding of everyone 's role in the process must be developed. The leading function allows the person or persons in charge of the organization 's mission or individual goals and objectives to inspire all personnel involved in the task to work together for the best result. We will talk more about leadership later in this module. Controlling
Controlling is an aspect of management that is frequently underestimated. Like planning, it is a continual process; like organizing, it involves translation (although this time, from actions into evaluations) and like leading, it involves diplomacy. Controlling is the function of monitoring work to check progress against goals, and taking corrective action when required. 1-6 List and describe four important
Applied Managerial Accounting
Summer 2013
SCM610
Instructor: Dr.Damron, Sandra
ASSIGNMENT # 1
By : Ahmed Hassan Zahmuwl
Chapter 1: 3, 6, 7, 18, 24, 26 1-3 List and define the four basic management activities? Planning
Planning is the ongoing process of developing the business ' mission and objectives and determining how they will be accomplished. Planning includes both the broadest view of the organization (its mission), and the narrowest (a specific tactic for achieving a specific objective). Organizing
Organizing is the process of converting plans into action. Organizing can include creating a list of duties, developing deadlines and timetables for work, assigning tasks, determining and assembling the necessary resources and carrying out the plan. It is the organizing function that most people think about when they think of management. The organizing function is also where the process of supervising others and assigning authority occurs Leading
Leading is the act of directing the behavior of all personnel to accomplish the organization 's mission and goals. In order for the goals to be achieved, a shared vision and a clear understanding of everyone 's role in the process must be developed. The leading function allows the person or persons in charge of the organization 's mission or individual goals and objectives to inspire all personnel involved in the task to work together for the best result. We will talk more about leadership later in this module. Controlling
Controlling is an aspect of management that is frequently underestimated. Like planning, it is a continual process; like organizing, it involves translation (although this time, from actions into evaluations) and like leading, it involves diplomacy. Controlling is the function of monitoring work to check progress against goals, and taking corrective action when required. 1-6 List and describe four important
References: http://www.accounting4management.com/financial_accounting_vs_managerial_accounting.htm http://www.accountingtools.com/questions-and-answers/what-is-the-difference-between-financial-and-managerial-acco.html http://www.ehow.com/facts_6030050_difference-cost-accounting-management-accounting.html#ixzz2ZBjeCM00 http://www.wisegeek.com/what-is-strategic-cost-management.htm#didyouknowout