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Bangor University

Bangor University. Management Accounting Control & Decision Accounting ACF-231 ACF-232. Lecturer: Cynthia Fortin, CPA, CMA Email: cynth_fortin@yahoo.ca Mobile: 155 1759 7570. My Teaching Experience. Dalian Vocational and Technical College, China

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Bangor University

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  1. Bangor University Management Accounting Control & DecisionAccounting ACF-231 ACF-232

  2. Lecturer: Cynthia Fortin, CPA, CMA Email: cynth_fortin@yahoo.ca Mobile: 155 1759 7570

  3. My Teaching Experience Dalian Vocational and Technical College, China Business English and International Trade 2005-2006 Teacher of Spoken English University of Kaifeng, China 2007 to 2011 - Accounting III, Specialized Accounting, and Cost Production Accounting Ho Chi Minh City University of Technology (HUTECH), Vietnam 2011-2013 Accounting III, Cost Production, and Budgets & Benchmarking CEGEP de Granby, Québec, Canada 2012-2014 Accounting 1,II, and Financial StatementAnalysis

  4. Experience in Public companies Groupe Transcontinental, Ville St-Laurent (06-10) Consultant Financial Certification and Compliance • Reviewed 100 financial documents to ensure that risks and controls are properly documented. • Performed tests on controls and identified areas of improvement • Demonstrated company’s compliance to the Ontario Securities Commission. 52-109

  5. Bromont, QC (1973-2003) 06/03 – 10/03 Consultant – Sarbanes-Oxley 12/99 - 04/02 Manager – Accounting and Internal Controls 11/98 - 12/99 Facilitator/Coach – Continuous Improvement 01/98 - 11/98 Manager – Manufacturing 06/95 - 01/98 Business Analyst – Marketing 01/92 - 06/95 Financial Advisor – Business Unit 11/73 - 01/92 Coordination responsibilities in Human Resources and Finance.

  6. EDUCATION : 2011 Unification of Accountants in Canada (CPA) 1997 Certified Management Accountant (CMA) 1995 University of Sherbrooke Bachelor Business Administration, major Management Accounting

  7. Activities and interests • Speaking - Toastmasters International • Walking, Cycling, Camping, Snow shoeing • Travelling • Writing stories

  8. How do you pass this class? Self- study, Pre-reading, Doingproblems Teamdiscussion

  9. Be an active participant Ask questions!

  10. You are not just a spectator ! • Talk about what • you are learning • write about it • relate it to past experiences, • apply it to your daily life.

  11. Classroom behaviour Classroom Rules Everyone deserves respect. How to respect each other? No music no texting no sleeping No eating

  12. It is your turn… • Introduce yourself – Name • What is special about yourself? • What are your plans after graduation?

  13. Evaluation • Quiz - Videos Daily 10% • Assessment 04/17/15 30% • Assignment 04/26/15 20% • Assessment 04/30/15 40% 100%

  14. Module Implementation Plan • ..\HAUT-2015-Spring-ACF-231-232-Management-Accounting-MIP.doc

  15. Daily Video preparation http://video.wileyaccountingupdates.com/2011/08/20/introduction-to-managerial-accounting/

  16. Learn techniquesMANAGERS use to produce timelyand relevant information to make sound business decisions.

  17. What does Management Accounting do? • Measures and reports information to help managers make decisions • Internalreporting • Futureoriented 1-2

  18. What does Management Accounting do? • Measures and reports information to help managers make decisions • Internalreporting • Futureoriented 1-2

  19. Managers use Managerial Accounting • Choose • Communicate • Implement 1-2

  20. What do managers do? Plan Control Make sound Decisions

  21. Planning Establishgoals. How will goals be achieved? Action plan Develop Budgets.

  22. Controlling Gathers actual results to compare to the plans

  23. Decision Making Choose between alternatives

  24. Strategy • Customer Intimacy • Match quality to price = Operational Excellence • Innovate – Product Leadership 1-7

  25. Strategy • Customer Intimacy • Match quality to price = Operational Excellence • Innovate – Product Leadership 1-7

  26. Should I try to avoid the risk, accept the risk, or reduce the risk? Enterprise Risk Management • What could go wrong? • Identify the risks • Manage them with controls

  27. Enterprise Risk Management Day 1 ERM.docx

  28. Creating value Is it useful to the customer? 1-9

  29. Going about creating value Value Chain Product Service Process Design Research and Development Customer Service Production Marketing Distribution 1-10

  30. Going about creating value Value Chain Product Service Process Design Research and Development Customer Service Production Marketing Distribution 1-10

  31. Make Sales from Finished Goods Inventory Produce Goods in Anticipation of Sales StoreInventory Traditional Manufacturing

  32. Customer places an order Create Production Order Generate component requirements Goods delivered when needed Production begins as parts arrive Components are ordered Lean Production

  33. Understand the problem to know what data to analyze and measure data-driven analysis

  34. Measurement Skills What net income should my company report to its stockholders? Report historical data that complies with GAAP/IFRS

  35. Measurement Skills How will my company serve its customers? Measure and analyze mostly nonfinancial, process-oriented data.

  36. Measurement Skills Will my company need to borrow money? Measure and analyze estimated future cash flows.

  37. Ethical behavior Fairness – play by the rules truth and sincere

  38. Day 1 corruption.oxps

  39. IMA STATEMENT OF ETHICAL PROFESSIONAL PRACTICE Competence • Maintain expertise • Respect the Law • Communicate accurate, concise, clear, and timely information • Communicate problems

  40. IMA STATEMENT OF ETHICAL PROFESSIONAL PRACTICE Confidentiality • Keep it secret • Do not misuse

  41. IMA STATEMENT OF ETHICAL PROFESSIONAL PRACTICE Integrity • Avoid conflicts of interest • Avoid misconduct (drinking, drugs, stealing, cheating, harrassing)

  42. IMA STATEMENT OF ETHICAL PROFESSIONAL PRACTICE Credibility • Discloseonly relevant information closely connected or appropriate to the matter at hand

  43. IMA STATEMENT OF ETHICAL PROFESSIONAL PRACTICE Resolution of EthicalConflict • Followcompany policy if not talk to higher management • Contact an attorney

  44. dAY 1statement of Ethics_web.pdf

  45. CorporateSocialResponsibility Consider needs of all stakeholders when making decisions. Employees Customers Stockholders Environmental & Human RightsAdvocates Suppliers Communities

  46. CorporateSocialResponsibility Consider needs of all stakeholders when making decisions. Employees Customers Stockholders Environmental & Human RightsAdvocates Suppliers Communities

  47. Team Assignment Day 1 Team assignment.pdf

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