Chapter 1 - Management accounting: information for managing resources and creating value. The objectives of this chapter are to introduce: Organisations in the 21st century, what is management accounting? Management accountants within organisations. Inviting you refer. | Chapter 1 Management accounting: information for managing resources and creating value Australian organisations in the 21st century Increasing global competition in the 1990s Reduction/elimination of input tariffs, quotas and bounties Deregulation of telecommunications industries Corporatisation and privatisation of public sector continued Australian organisations in the 21st century Shift from primary production, to resources to service-based economy Increasing customer demands Rise of the internet and e-commerce New organisational structures, strategies and management philosophies What is management accounting? the processes and techniques that focus on the effective use of organisational resources, to support manager in their tasks of enhancing both customer value and shareholder value What is management accounting? Customer value The value that a customer places on particular features of a product or service Shareholder value The value that shareholders or owners . | Chapter 1 Management accounting: information for managing resources and creating value Australian organisations in the 21st century Increasing global competition in the 1990s Reduction/elimination of input tariffs, quotas and bounties Deregulation of telecommunications industries Corporatisation and privatisation of public sector continued Australian organisations in the 21st century Shift from primary production, to resources to service-based economy Increasing customer demands Rise of the internet and e-commerce New organisational structures, strategies and management philosophies What is management accounting? the processes and techniques that focus on the effective use of organisational resources, to support manager in their tasks of enhancing both customer value and shareholder value What is management accounting? Customer value The value that a customer places on particular features of a product or service Shareholder value The value that shareholders or owners place on a business Resources Financial and non-financial, including information, work processes, employees, committed customers and suppliers Management accounting systems An information system that produces the information required by managers to manage resources and create value Includes regular estimates of the cost of goods and services, information for planning and controlling operations, and information for measuring performance Ad-hoc information to satisfy managers’ short-term and long-term decision-making needs Management accounting information Focus is on the needs of managers within the organisation Great flexibility in the nature of information supplied Influenced by Production and service technologies, organisational structure, organisational size, level of sophistication of computer systems Relevant to senior managers through to operational managers Management accounting vs. financial accounting Financial accounting The practice of preparing and reporting .
