Role of management
You'll learn how management roles—planning, decision-making, and control—directly mirror what management accountants do in organisations.
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In this lesson
- 0:00 Management roles and planning
- 0:23 Planning as a core management function
- 1:23 Decision making and resource allocation
- 2:11 Control and performance monitoring
- 3:05 Plan, do, check framework
- 3:27 Management accounting information roles
- 5:00 Strategic, tactical, operational planning
- 6:49 Limitations and uncertainty in planning
- 8:53 Data versus information distinction
About this lesson
This lesson explores how managers look forward to set objectives, make informed decisions, and monitor performance, and how management accounting information supports each of these activities. You'll see how strategic, tactical, and operational plans cascade through a business, and understand why management accounting is as much an art as a science, requiring sensitivity analysis and uncertainty recognition. By the end, you'll be able to distinguish between raw data and processed information, and recognise how good information drives better management decisions.
Duration: 12m
Transcript
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