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ACCOUNTING FOR MANAGEMENT - Coggle Diagram
ACCOUNTING FOR MANAGEMENT
Information
relevant
to both internal and external stakeholders
organization's
actual and projected performance
control of resources
resource usage
impacts
compliance with
goals
regulations
stakeholders' expectations
implications on stakeholders
Managers
plan
key factors
organisation’s mission
resources
stakeholders’ expectations
technologies
implications
Economic
Social
Environmental
regulations
existed
projected
continual process
revise
previous plans
establish
new plans
extending the focus of performance
beyond the ‘financial’
'long - term'
value adding
Porter’s value chain
accountants
creators of value
enablers of value
preservers of value
reporters of value
components
overview/description
financial plan
marketing plan
social and environmental plan
operation plan
most important
short - term
long - term
organize
value drivers
resource allocation
influenced by
culture and leadership styles
management’s willingness
collaborate
preparedness
innovative
level of efficiency
accepted
awareness
market opportunities and changes
impacts
the way
resources are used
performance is measured
associated rewards are determined
resource usage are measured
make decisions
monitor performance
revise plans
in the light of performance
Accountants
set
business models
challenge
normal assumptions of doing business
redefine success
achieving sustainable value creation
encouraging/ rewarding
right behaviours
ensure decisions
supported by the necessary information, analysis and insights
ensure monitoring and reporting performance
go beyond the traditional ways of thinking about economic success