providing information to help with planning, decision making or control.
1 of 10
The Functions of the Management Accountant
Providing costing information - concerned with how costs are tracked
Providing information for planning and control - ensures that the organisation is run effectively
Providing information to enable management to make better decisions
2 of 10
Impact of non-financial factors
Use KPIs to measure how effectively an organisation is performing:
- product quality/innovation
- employee morale
- customer satisfaction
- age of NCA
- specialist information
3 of 10
Value for money
Focuses on ensuring resources are used efficiently and effectively.
Three E's - Economy, Efficiency, Effectiveness
The aim is to maximise the value of public funds
4 of 10
Levels of Managerial Decision Making
Strategic - Long-term planning, 5-10 years, unstructured and infrequent.
Tactical - medium-term planning, 1-3 years
Operational - day-to-day operations, highly structured and frequent.
5 of 10
Data / Information
Data - a collection of random facts recorded by observation or research
Information - data that has been processed so that it is meaningful
6 of 10
Time Dimension Characteristics
Timeliness -
Current -
Frequency -
Time Period -
7 of 10
Content Dimension Characteristics
Accuracy -
Relevance -
Completeness -
Conciseness -
8 of 10
Form Dimension Characteristics
Clarity -
Detail -
Order -
Presentation and Media -
9 of 10
Additional Characteristics
Reliability -
Appropriate -
Received to the correct person -
Sent by the correct channels -
10 of 10
Other cards in this set
Card 2
Front
The Functions of the Management Accountant
Back
Providing costing information - concerned with how costs are tracked
Providing information for planning and control - ensures that the organisation is run effectively
Providing information to enable management to make better decisions
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