and the Business Environment
- Describe the functions performed by managers.
- Identify the major differences and similarities between financial and managerial accounting.
- Explain the basic concepts of lean production and enterprise risk management.
- Explain the nature and importance of ethics for accountants and the role of corporate social responsibility.
- Explain how intrinsic motivation, extrinsic incentives, and cognitive biases affect employee behaviour.
This chapter serves four main purposes:
- It explains the nature of managerial accounting in providing internal accounting information to support the work of management—planning, directing and motivating, and controlling.
- It describes the nature of organizations and the role of management accountants in an organization.
- It explains how companies are responding to a changing business environment by improving business process with the following four approaches:
- Lean Production
- Enterprise Risk Management
- It discusses the importance of upholding ethical standards.
Company Type of Business Text Reference
Certified Professional Accountants Accounting Introduction
Canadian Pacific Railway In Business
CIBC Bank Ethics/Discussion Case
Assignment Topic Grid
|Problem||Topic||LO1: Functions of managers||LO2: Financial vs. managerial accounting|| LO3: Lean production and enterprise risk |
| LO4: Nature and importance of ethics for |
|LO5: Intrinsic motivation, extrinsic incentives, and cognitive biases||Service industry||Writing component||CPA adapted|
|E1-1||Functions Performed by Managers||ü||?|
|E1-2||Financial and Managerial Accounting||ü||?|
|E1-3||Enterprise Risk Management||ü||?|
|P1-5||Planning and Control Activities||ü||J||?|
|P1-6||Ethics in Business||ü||?|
|P1-7||Corporate Social Responsibility||ü||?|
|P1-8||Intrinsic Motivation and Extrinsic Incentives||ü||?|
|P1-9||Value Chain Analysis||ü|