Environmental Management Accounting Environmental Issues * Global Warming * Air and water pollution * Waste Disposal and treatment Examples- Bhopal (leakage of chemical gas)‚ Exxon Valdez (spilling 10.8 million gallons of oil)‚ Fukushima Nuclear Plant leakage in Japan (2011) Issues for Business: Businesses are becoming more and more conscious of the environmental implications of their operations‚ products and services. Environmental risks cannot be ignored. Consequences of
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Management‚ the Controller‚ and Cost Accounting Management According to Henry Fayol’s Industrial and General Administration‚ "to manage is to forecast and to plan‚ organize‚ to command‚ to co-ordinate and to control". To an organization‚ those various activity can be narrowed to Planning‚ Organizing and Control by three groups of management: operating management‚ middle management and executive management with different role in each level. Planning is the process of sensing external opportunities
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The Manager and Management Accounting Copyright © 2015 Pearson Education‚ Inc. All Rights Reserved 1. 2. 3. Distinguish financial accounting from management accounting Understand how management accountants help firms make strategic decisions Describe the set of business functions in the value chain and identify the dimensions of performance that customers are expecting of companies Copyright © 2015 Pearson Education‚ Inc. All Rights Reserved. 1-2 4. 5. 6. 7. Explain the five-step decision-making
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Summary of Pushing the Art of Management Accounting Hui (Steven) Zhang Trinity Western University Instructor: Brent Groen iMBA 521 Management Accounting Nov 18th‚ 2013 Summary of Pushing the Art of Management Accounting In this article “Pushing the Art of Management Accounting”‚ Alexander Mersereau discusses the bottleneck of the development of management accounting practice. He not only points out the core problem of the bottleneck through vivid metaphor‚ but also gives several
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Management Accounting and the Modern Business Environment Part-I Over the years global business environment has gone through some massive changes. These changes are due to changes in socio-economic situations‚ changes in consumers’ demands‚ changes in technological environment‚ changes in political scenario etc. Today’s business environment is referred to as the modern business environment which is characterized by globalization‚ advanced technology‚ intense competition‚ powerful customers and consumers
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The University of Hong Kong Faculty of Business and Economics School of Business BUSI0027 Management Accounting I Course Syllabus and Outline SEM2‚ 2011/12 Subclasses C‚ D‚ and E I. COURSE INFORMATION Lecturer: Dr. Yanling GUAN Email: ylguan@business.hku.hk Office: 716‚ Meng Wah Complex Phone: 2857-8346 Consultation Times: By Appointment Tutor: Mr. Kelvin Kwok (Subclass C) Email: hfkwok@hku.hk Office: 601B‚ Meng Wah Complex Phone: 2219-4490 Tutor: Ms. Carol Kwok
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understanding of the scope and purposes of management accounting and the concepts which underpinned it was summarized by the International Federation of Accountants (IFAC) in a statement. Later on in 1998‚ the statement was revised and released as Management Accounting Concepts – Number 1 in the series of International Management Accounting Practice Statements. The purpose of this article is to explain the IFAC’s perspective of the change in management accounting. This can be justified by the author when
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Chapter 1 Managerial Accounting‚ the Business Organization‚ and Professional Ethics Management accounting produces information for managers within an organization. Financial accounting produces information for external parties‚ such as stockholders‚ suppliers‚ banks‚ and government regulatory agencies. What kind of accounting information do managers need to achieve their goals and objectives? Good accounting information helps answer three types of questions: 1. Scorecard questions 2. Attention-directing
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1.0 Introduction Management accounting is the application of professional knowledge and skill in the preparation of accounting information in such a way as to control the operations of an undertaking. It is the presentation of accounting information in such a way as to assist management in the creation of policy for the day-to-day operation of an undertaking as it provides information needed by managers to determine how resources should be obtained and used. It includes the methods and concepts
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Introduction to Management Accounting Terms and examples Accounting is the process of analyzing and recording transactions for the purpose of preparing reports for statutory reporting‚ decision making and control. Types of accounting Bookkeeping is the recording of financial transactions. Transactions include sales‚ purchases‚ income‚ receipts and payments by an individual or organization. Bookkeeping is usually performed by a bookkeeper. Bookkeeping should not be confused with accounting. The accounting
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