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28 Cards in this Set

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Activity Based Management
an advanced control system that focuses management's attention on activities with the objective of improving the value received by the customer and the profit received by providing this value. It includes driver analysis, activity analysis, and performance evaluation and draws on activity-based costing as a major source of information.
Business Ethics
learning what is right or wrong in the work environment and choosing what is right.
Certified Internal Auditor (CIA)
an accountant certified to possess the professional qualifications of an internal auditor.
Certivied Management Accountant (CMA)
an accountant who has satisfied the requirements to hold a certificate in management accounting.
Certified Public Accountant (CPA)
an accountant certified to possess the professional qualifications of an external auditor.
Continuous Improvement
the relentless persuit of improvement in the deliver of value to customers; searching for ways to increase overall efficiency by reducing waste, improving quality, and reducing costs.
Controller
the chief accountant of an organization.
Controlling
the monitoring of a plan through the use of feedback to ensure that the plan is being implemented as expected.
Cost Accounting
the subsystem of cost managemdnt that is concerned with determining the cost of products, services, projects, activities, and other objects that may be of interest to managers.
Cost Management
identifies, collects, measures, classifies, and reports information that is useful to managers in costing, planning, controlling, and decision making.
Decision Making
the process of choosing among competing alternatives.
Electronic Commerce
(E-Commerce)
any form of business that is executed using information and communications technology.
Electronic Data Interchange (EDI)
an inventory management method that allows suppliers access to a buyer's online data base
Enterprise resource planning (ERP) software
software that has the objective of providing an integrated system capability-a system that can run all the operations of a company and provide access to real-time data from the various functional areas of a company.
Feedback
information that can be used to evaluate or correct the steps being taken to implement a plan.
financial accounting
the branch of the accounting system that is concerned with the preperation of financial reports for users external to the organization.
Just-in-time (JIT) manufacturing
a demand-pull system that strives to produce a product only when it is needed and only in the quantities demanded by customers.
Line positions
a position in an organization filled by an individual who is directly responsible for carrying out the organization's basic objectives.
management accounting
a cost management subsystem that is concerned with how cost information and other financial and nonfinancial information should be used for planning, controlling, and decision making.
performance reports
accounting reports that provide feedback to managers by comparing planned outcomes with actual outcomes.
planning
setting objectives and identifying method to achieve those objectives.
staff positions
a position in an otganization filled by and individual who provides support for the line function.
supply chain management
the management of products and services from the acquisition of raw materials through manufacturing, warehousing, distribution, whoe-saling, and retailing.
target costing
a method of determining the cost of a product or service based on the price that customers are willing to pay. Also referred to as price driven costing.
theory of constraints
method used to contiinuously improve manufacturing activities and nonmanufacturing activities.
Total Quality Management
a philosophy that requires managers to strive to create an environment that will enable workers to manufacture perfect products.
Treasurer
the financial officer responsible for the management of cash and investment capital.
Value Chain
a set of activities reuired to design, develop, produce, market, distribute, and service a product. (the product can be a service)