Managerial Accounting custom essay

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Required Text:
Braun, Tietz, Harrison. Managerial Accounting, 2nd edition. Pearson.(chapters 1 and 2)

Exercises:

Some exercises come with a ?Working Template? for organizing the material. Please see these as an option for how to set up the assignments. You are not required to organize the assignments this way.
1. Exercise P1-31A, page 35: E-commerce cost-benefit analysis
2. Exercise E2-21A, page 76: Classify and calculate a manufacturer?s costs
3. Exercise E2-25A, page 77: Compute cost of goods manufactured and cost of goods sold
4. Exercise E2-34B, page 80: Costs along the value chain for manufacturers

Essay Question/Considering Ethics:
1. Review the IMA Statement of Ethical Professional Practice. Does business interaction in the global market conflict with these ethical standards? Consider outsourcing, sustainability, and social responsibility. Is it possible to remain competitive in a global market and remain true to these ethical standards? Please formulate a 300 word minimum essay exploring this issue. Research and site the business practices of at least two companies that function on at least two continents.

Memorization Exercise:
1. Making a song out of terms that are otherwise unassociated and boring is one proven way to remember vocabulary. Write a song incorporating at least ten terms from Module One. It can be as long or as short as you want. Make sure that it ties the terms you use together and addresses how they relate to each other. Set it to the melody of a nursery rhyme or a song that you enjoy. You do not have to perform this and it does not have to be good. Submit the song that you wrote as your assignment and try singing it to yourself during the day.

Module #1 Discussion / ► IMA Ethical impact on outsourcing, sustainability, and social responsibility

Useful Websites for Further Knowledge/Research:
Institute of Management Accountants (IMA) Homepage:
http://www.imanet.org/

Important Terms and Concepts:
–Managers’ four primary responsibilities
–Unit Cost/Product Costing
–Budget Variances
–Master Budget
–Outsourcing
–Breakeven Point
–Financial Accounting v. Managerial Accounting
–Organizational Structure including internal personnel roles
–Cross-functional teams
–Skills required of management accountants
–Institute of Management Accountants (IMA)
–Certified Management Accountant (CMA)
–Ethics of Management Accounting
–Sarbanes-Oxley Act of 2002 (SOX)
–International Financial Reporting Standards (IFRS)
–Extensible Business Reporting Language (XBRL)
–Shifts in the Economy
–The Global Marketplace and how it relates to management accountants’ duties in a company
–Total Quality Management (TQM)
–Sustainability
–Social Responsibility
–Enterprise Resource Planning (ERP)
–Lean Production
–Just-in-time (JIT) inventory philosophy
–ISO 9001:2008 certification
–Supply Chain Management
–Throughput Time
–Common Business Sectors and their activities
–Value Chain and related business activities
–Types of Costs and related terms
–Direct Materials and Labor
–Indirect Material and Labor
–Manufacturing Overhead
–Types of Financial Statements and related terms
–Cost of Goods Manufactured and calculations
–“Tone at the Top”

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