Accounting and Information SystemsIn the previous modules, you learned about financial reporting—making financial statements usable for external users. In this module, you will transition from financial reporting to management accounting. You will learn how managers use the same financial information to make various company and unit-level business decisions.
Any reporting is a process of converting raw data into meaningful information. Data is a set of raw facts and is made usable by some form of summarization or analysis to translate it into information. For example, cost data can be summarized and analyzed in a usable report. This creates meaningful business information that managers can use for decision making. An organization typically follows an accounting and information system to collect the business information and present it in a summarized form for the management. This system forms the basis of a management accounting system in the organization.
Information gathered from these systems needs to be relevant, timely, accurate, complete, concise, and understandable. This would improve decision making, customer service, product or service quality, and productivity in organizations. However, the process of collecting and analyzing data and reporting information is expensive. Apart from other costs, it involves the cost of the hardware, software development, and staff time. As a manager, you need to ensure that the value of the information obtained through these information systems is greater than the cost of providing that information.
Complete the following readings early in the module:
Read the online lectures for the Module
From the textbook, Accounting for Managers: Interpreting Accounting Information for Decision Making, 5th, read the following chapters:
Chapter 10: Marketing Decisions
Chapter 10 textbook Microsoft PowerPoint slides
Chapter 11: Operating Decisions
Chapter 11 textbook Microsoft PowerPoint slides
Chapter 12: Human Resource Decisions
Chapter 12 textbook Microsoft PowerPoint slides
Assignment: Discussion—Cost of Quality
Using this case study,(Supplied As An Attachment) take the role of the production manager and prepare a report for the board that either recommends the proposed changes or does not recommend the changes. Support your position with details from the case and also from information from the text or other outside references.
Make sure your original answer explains the following in your own words:
Cost of Quality
Total Quality Management (TQM)
Statistical Process Control (SPC)
Cost Volume Profit (CVP)
By Friday June 8, 2018 post your response to the Discussion Area Plagiairism free, turned-in on time, Grading criteria followed All assignment qualifications addressed correctly, Grading Criteria followed, Include Question followed by the answer Reference Page Included Cover page Included, Paragraphs Indented, Running-head included, main heading should be centered; all new paragraphs should be indented; paper should be right ragged, not right justified; references, should always go on a standalone page. abstracts are not usually indented; acronyms should be spelled out when using them for the first time, for example HR. references as listed are APA standard. When you submit your papers through turnitin.com, your overall similarity index score should not be exceedingly high, with ten to fifteen percent being the maximum, Please make sure your APA formatting of citations. I have provided the APA resource cite for you. https://owl.english.purdue.edu/owl/resource/560/01, Please work on using literature within the span of the last 5 years, keep in mind there should not be any one, two, or three sentence paragraphs.
Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation.
Do the following when responding:
Read your answers. Provide substantive comments by contributing new, relevant information from course readings, Web sites, or other sources; building on the remarks or questions; or sharing practical examples of key concepts from your professional or personal experiences Respond to feedback on your posting and provide feedback to ideas. Make sure your writing is clear, concise, and organized; demonstrates ethical scholarship in accurate representation and attribution of sources; and displays accurate spelling, grammar, and punctuation.
Initial response was:
Insightful, original, accurate, and timely. Substantive and demonstrated advanced understanding of concepts. Compiled/synthesized theories and concepts drawn from a variety of sources to support statements and conclusions.
Wrote in a clear, concise, formal, and organized manner. Responses were error free. Information from sources, where applicable, was paraphrased appropriately and accurately cited.
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