Managerial Accountingand Cost Concepts

Chapter 1

An Introduction to
Managerial Accounting
and Cost Concepts




McGraw-Hill /Irwin © The McGraw-Hill Companies, Inc., 2007

, Work of Management


Planning
Directing and
Motivating


Controlling




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, Planning

Identify
alternatives.


Select alternative that does
the best job of furthering
organization’s objectives.


Develop budgets to guide
progress toward the
selected alternative.
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, Directing and Motivating
Directing and Motivating

Directing and motivating involves managing
day-to-day activities to keep the
organization running smoothly.
 Employee work assignments.
 Routine problem solving.
 Conflict resolution.
 Effective communications.



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