MA-garrison
prologue

accounting
-recording, estimating, organizing, summarizing
financial and operational data

FA- reports to those outside the organization:
owners creditors. tax authorities. regulators
MA- reports to managers inside the organization for
planning. controlling. decision making

FA-emphasizes financial consequences of past activities
MA-emphasizes decisions affecting the future

FA- emphasizes objectivity and verifiability
MA-emphasizes relevance

FA- emphasizes precision
MA- emphasizes timeliness

FA- emphasizes comanywide reports
MA- emphasizes segment reports

FA- must follow GAAP/IFRS
MA- need not

FA-mandatory
MA- not

planning
a budget is a detailed plan for the future that is usually expressed in formal quantitative terms

controlling
a performance report compares budgeted data to actual data in an effort to identify and learn from excellent performance and to identify and eliminate sources of unsatisfactory performance

decision making- broad qustions
-what should,we be selling
- who should we be serving
- how should we execute

CMA- the Certified Management Accountant
CGMA- Charted Global Management Accountant

An ethics perspective
IMA Statement of Ethical Professional Practice
principles
IMA\'s overarching ethical principles include: Honesty, Fairness, Objectivity, and Responsibility. members shall act in accordance with these principles and shall encourage others within their organizations to adhere to them.

standards
1COMPETENCE
Each member has a responsibility to:
-maintain an appropriate level of professional expertise by continually developing knowledge and skills
-perform professional duties in accordance with relevant laws, regulations and technical,standards
-provide decision support information and recommendations that are accurate, clear, concise and timely
-recognize and communicate professional limitations and constraints that preclude responsible judgement and successful performance of an activity

Confidentiality
--
-keep information confidential except when disclosure is authorized or legally required
-inform all relevant parties regarding the appropriate use of confidential information. monitor surbodinates\' activities to ensure compliance
-refrain from using confidential information for unethical or illegal advantage.

integrity
--
-mitigate actual conflicts of interest. regularly communicate with business associates to avoid apparent conflicts of interest. inform all parties of any potential conflicts
-refrain from engaging in any conduct that would prejudice carrying out duties ethically
-abstain from engaging in or supporting any activity that might discredit the profession

credibility
-communicate information fairly and objectively
-disclose all relevant information that is reasonably expected to influence an intended user\'s understanding of the reports, analyses or
recommendations
-disclose delays and deficiencies in information, processing, timeliness, or internal control in conformance with organization policy and/or applicable law

A strategic management perspective
customer value propositions- usually fall into three categories/ customer intimacy/ operational excellence/ product leadership

an enterprise risk management perspective
enterprise risk management is a process used by a company to identify those risks and develop responses to them that enable it to be reasonably assured of meeting its goals
a preventive control- deters undesirable events from occurring
a detective control- detects undesirable events that have already occured

A corporate social responsibility perspective
CSR is a concept whereby organizations consider the needs,of all stakeholders when making decisions

A process management perspective
A business process is a series of steps that are followed in order to carry out some task in a business

A value chain consists of the major business functions
that add value to a company\'s products and services

lean production is a management approach that organizes resources such as people and machines around the flow of business processes and that only products units in response to customer orders---aka. lean production

A leadership perspective
-intrinsic motivation
-extinsic incentives
-cognitive bias