ACC 241 Prologue

Card Set Information

ACC 241 Prologue
2015-01-17 17:53:52
ACC 241
ACC 241
ACC 241 Prologue
Show Answers:

  1. A detailed plan for the future that is usually expressed in formal quantitative terms.
  2. A series of steps that are followed in order to carry out some task in a business.
    Business Process
  3. Anything that prevents you from getting more of what you want.
  4. The process of gathering feedback to ensure that a plan is being properly executed or modified as circumstances change.
  5. A concept whereby organizations consider the needs of all stakeholders when making decisions.
    Corporate social responsibility
  6. Selecting a course of action from competing alternatives.
    Decision making
  7. A process used by a company to identify its risks and develop responses to them that enable it to be reasonably assured of meeting its goals.
    Enterprise risk management
  8. The phase of accounting that is concerned with reporting historical financial information to external parties, such as stockholders, creditors, and regulators.
    Financial accounting
  9. A management approach that organizes resources such as people and machines around the flow of business processes and that only produces units in response to customer orders.
    Lean Production
  10. The phase of accounting that is concerned with providing information to managers for use within the organization.
    Managerial accounting
  11. A report that compares budgeted data to actual data to highlight instances of excellent and unsatisfactory performance.
    Performance report
  12. The process of establishing goals and specifying how to achieve them.
  13. A part or activity of an organization about which managers would like cost, revenue, or profit data.
  14. A company's "game plan" for attracting customers by distinguishing itself from competitors.
  15. A management approach that emphasizes the importance of managing constraints.
    Theory of Constraints
  16. The major business functions that add value to a company's products and services, such as research and development, product design, manufacturing, marketing, distribution, and customer service.
    Value chain