ADM 2337 Lecture 1: ADM2341_ Chapter 1 Notes

• School: University of Ottawa
• Department: Administration
• Course: ADM 2337
• Professor: Gebrekiduce Mekonnen

Document Summary

Select alternative that does the best job of furthering organization"s objectives. Develop budgets to guide progress towards the selected alternative. Controller prepares budgets (annually: directing and motivating. Directing and motivation involves managing day-to-day activities to keep the organization running smoothly. Feedback in the form of performance reports that compares actual results with the budgets are an essential part of the control function: decision making. The most basic skill is the ability to make intelligent, data driven decisions. Many of these decisions revolve around the following 3 questions: A game plan" that enables a company to attract customers by distinguishing itself from competitors. The focal point of a company"s strategy should be its target customers. Delivers products and services faster, more conveniently, and at lower prices. Lo2: identify the major differences and similarities between financial. Lo3: describe the role of management accountants in an organization. Decentralization: the delegation of decision-making authority throughout an organization.