1. Introduction to Management Accounting Chapter 1

2. Objective 1 Identify managers’ four primary responsibilities

3. Managers’ Responsibilities Setting goals and objectives Overseeing day-to- day operations Evaluating results of operations Directing Controlling Decision Making Planning

4. Objective 2 Distinguish financial accounting from management accounting

19. Objective 3 Describe organizational structure and the roles and skills required of management accountants within the organization

20. Organizational Structure Board of Directors Chief Executive Officer Chief Operating Officer Chief Financial Officer Vice Presidents of various operations Treasurer Controller Internal Audit Audit Committee Board of Directors Chief Executive Officer Chief Operating Officer Chief Financial Officer Vice Presidents of various operations Treasurer Controller Internal Audit Audit Committee

26. Objective 4 Describe the role of the Institute of Management Accountants (IMA) and use its ethical standards to make reasonable ethical judgments

33. Objective 5 Discuss trends in the business environment

43. Objective 6 Use cost-benefit analysis to make business decisions

47. S1-8 $17 million $12 million $29 million Expected value of additional benefits: Outcome Benefits Probability Expected value Moderately successful $20 million  0.85 = Extremely successful $80 million  0.15 =

50. End of Chapter 1