ACIS 2116 Lecture Notes - Lecture 1: Management Accounting, Management System, Internal Control

• School: Virginia Tech
• Department: Accounting and Information Systems
• Course: ACIS 2116
• Professor: Jason Sharp

Document Summary

Managerial accounting vs financial accounting: managerial accounting: Internal users (managers: no gaap-type standards, reports prepared as needed. (no audit requirements but could be subject to internal audits, financial accounting, external users (creditors, stockholders, government regulators, gaap/ifrs standards, reports prepared annually/quarterly (audited & reviewed) Institute of management accountants (ima) is the professional association for management accountants in the united states: certified management accountant (cma) is the gold standard certification in the management accounting field. Ima"s ethical standards & ethical principles: ethical standards ( code of conduct , competence, confidentiality. Integrity: credibility, ethical principles ( values , honesty, fairness, objectivity, responsibility. Ethical behavior vs illegal behavior: see various examples of ethical dilemmas on pages 14-15, see ethical dilemma #4 . Big data & data analytics: over 90% of the world"s data has been created in the last two years, enterprise resource planning erp systems are used by many of the largest companies.