BUS-A 202 Chapter Notes - Chapter 1: Direct Labor Cost, Lean Services, Corporate Social Responsibility
Document Summary
Managerial accounting - accounting used to provide information and analyses to managers inside the organization to assist them in decision making. Segment - part of organization about which managers would like cost, revenue, or profit data. Planning - establishing goals and specifying how to achieve them. Controlling - gathering feedback to ensure that the plan is being properly executed or modified as circumstances change. Decision making - selecting a course of action from competing alternatives. Performance report - compares budgeted data to actual data in an effort to identify and learn from performance. Corporate social responsibility - the extent to which businesses meet the legal, ethical, economic and voluntary responsibilities placed on them by their stakeholders. Business process - a series of steps that are followed in order to carry out some task in a business. Value chain - adds values to company"s products and services.
