Accounting information for planning and controlling purposes

Assignment Help Operation Management
Reference no: EM133064232

Eddison Electronic Company (EEC) provides electricity for several states in the United States. You have been employed as a cost accountant at this organization. You have recently hired Susan Thompson, who has experience with financial accounting. Financial accounting includes preparing journal entries that provide a record of the day-to-day activities of the company and preparing financial statements, such as an income statement, a statement of owners' equity balance sheet, and a cash flow statement. Although Susan has experience with and fully understands financial accounting, she has no experience with managerial accounting.

With your fellow classmates, please discuss what Susan should know about managerial accounting.

Explain the similarities and differences between financial and managerial accounting.

Provide examples of the reports used for financial reporting and how those reports differ from managerial accounting reports.

Determine how managers might use accounting information for planning and controlling purposes.

Reference no: EM133064232

Questions Cloud

Identify the condition of demand or supply : 1. Match the scenario below with the correct graph and identify the condition (determinant) of demand or supply that changes. Assume ceteris paribus.
Optimal differentiation strategy of the firm : "Those running a pizza company know that are important factors for the competition, such as channels where consumers can place their orders, time spent to deliv
Concern in global strategy : Why should resources be a concern in a global strategy? How will this impact your competitive strategy in your global market?
What is the marginal cost for cakes : Assume that labour can only be added in hour increments. Each cake requires labour, ingre- dients and the use of a kitchen. The kitchen you rented for $3,000 pe
Accounting information for planning and controlling purposes : Determine how managers might use accounting information for planning and controlling purposes.
Prepare the cash flow statement : Prepare the cash flow statement (operating, investing and financing activities) for Sagle for 20x2, using the indirect method for the operating activities
Applying budgetary considerations and leadership : Effective money management begins with a comparison of the actual money spent versus what is in the budget.
Discuss possible reasons for an increase or decrease : Adolescent pregnancy is viewed as a high-risk situation because it poses serious health risks for the mother and the baby. Describe various risk factors or prec
Nutrition professional : Now that you have almost completed your BS degree in Nutrition, let's prepare for your future as a nutrition professional.

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd