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1、1The Accountants Role in the OrganizationTRANSITION NOTESThis chapter introduces the five-step decision process utilized by managers to make a variety of decisions. This process becomes an underlying theme of the text as it is applied to a number of types of decisions throughout the text. The five s
2、teps include (1) identify the problem and uncertainties, (2) obtain information, (3) make predictions about the future, (4) make decisions by choosing among alternatives, (5) implement the decision. With the emphasis on the five-step decision process, material relating to the problem solving, scorek
3、eeping, and attention-directing roles of the management accountant are streamlined. There is also an increased emphasis on the linkage between the set of business functions in the value chain and customer expectations as key success factors.PROBLEM MATERIAL CORRELATION CHART14th Edition13th Edition1
4、4th Edition13th Edition16162424 Revised171725 25181826261919272720 2028 New2821 21292922 2230 30 Revised232331 NewI. LEARNING OBJECTIVES1.Distinguish financial accounting from management accounting.2.Understand how management accountants affect strategic decisions.3.Describe the set of business func
5、tions in the value chain and identify the dimensions of performance that customers are expecting of companies.4.Explain the five-step decision-making process and its role in management accounting.5.Describe three guidelines management accountants follow in supporting managers.6.Understand how manage
6、ment accounting fits into an organizations structure.7.Understand what professional ethics mean to management accountants.II. CHAPTER SYNOPSISChapter 1 is an important introductory chapter. The underlying premise of this text, Cost Accounting: A Managerial Emphasis, (14thed.), is the importance of c
7、ost accounting data in making managerial decisions. Distinction is made between financial accounting and managerial accounting. Financial accounting information is reported to external users and used by investors, lenders, suppliers, and other external stakeholders to evaluate and compare companies.
8、 It follows prescribed standards and formats. In contrast, management accounting provides financial and nonfinancial information to internal users employing whatever format or costing approach that will allow managers to make the best possible business decisions in todays competitive environment. Co
9、st accounting provides information for both financial accounting and management accounting; in this text the terms “cost accounting” and “management accounting” are used interchangeably.Successful management accounting systems capture and report information that helps managers make decisions to fulf
10、ill organizational goals in an effective and efficient manner. Management accounting also provides information critical to the planning and control decisions of managers.A five-step decision process is introduced to guide successful decision making: identify the problem, obtain information, make pre
11、dictions about outcomes, make a decision, and implement the decision.Key guidelines for management accountants include: cost-benefit analysis, behavioral considerations, technical considerations, and different costs for different purposes. Understanding of these guidelines is essential for the stude
12、nt to have a solid foundation for material that is presented later in the text.As those responsible for the integrity of the accounting information used by external and internal parties, accountants must maintain the highest of ethical standards. They must take special care to avoid the appearance o
13、f ethical improprietiesnot only avoid unethical behavior, but avoid the appearance of such. The Sarbanes-Oxley Act of 2002, passed in response to several large accounting scandals, imposes strict ethical standards on accountants. Professional associations such as the AICPA and the IMA not only impos
14、e additional standards on their members but also provide resources that help members identify ethical issues and possible courses of action when ethical dilemmas confront them.III.POINTS OF EMPHASIS1. Make sure that the students understand the perspective of cost accounting and how it differs from t
15、hat of financial accounting.2. The cost-benefit ratio is pervasive throughout the text. The students should grasp this concept early or they will not fully understand cost accounting.3. Another recurring theme throughout the text is the five-step decision model. Emphasize this concept and be certain the students are operationally familiar with it.4. The guidelines to management accounting covered in Learning Objective 5 give the student a proper perspective in order to “do” management accounting.5. It is helpful and sets an ethical tone for the class if you go over
