Kyungdong University Global Campus Department of International Business Administration Managerial Accounting



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Financial Management Professor: Juraev S. Sirojiddin

Kyungdong University Global Campus

Department of International Business Administration

Managerial Accounting

Professor: Juraev S. Sirojiddin



ASSINGMENT - 1

Submitted by: Baibolov Daniyar

Student ID: 1718106

Date of Submission: August 26, 2020

Grade: _____/_____

Feedback:

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Questions:

Q1.

Decision Making – Here making decision play big role to managers, and decision making is the first step in our way. Actually, decision making has a lot of meanings and it could be about different things or situation such as developing something or launching some product or application in IT, research development, which mean that decision making and it could be about any operations aspect in a company. The main purpose of decision making is the collecting and utilizing information or data to be able to make a decision.

Control process or operation – this is the process which continuing the way of decision making. After when we launched or product or application and started our business, we need to be able to control our company’s business, in this case we have to know what’s happening there, and how is it going, how our process is going, this is the control process. With the control process we have to manage our business process, “- is it going in right way or in wrong way?”

Performance evaluation – Actually, performance evaluation is about evaluating outcomes from decision our company. This is the 3rd step, which means what is our result and what we reached here. How we achieved our destination in this business way.



Q2.

In this case we have 3 different accountings such as – Cost Accounting, Management accounting and Financial Accounting. Firstly, I’d like to say my opinion about cost and management accounting. Actually, here we have some similarities between cost and management accounting such as – time frame or report timing, users and regulations. I can say that these two accountings are the future oriented to aid in decision making. Also, here we have users such as internal users or just managers of the organization. Actually, report timing or time span here is much more frequent to facilitate decision making process. Behavioral implications is quite similar also and just designed to influence the behavior of managers and other employees or just usually these two accountings reports at a more detailed level (E.g. profit per product or department) Financial accounting is more based on historical data or information, which has also intended for external users such as investors, regulators, suppliers, banks. Rules of measurement is regulatory must comply with the law regulations. Time reporting or time span is could be at the end of the accounting period. Here are behavioral implications primarily reports economic events and also influence behavior, cause of manager’s compensations is often based on reported financial results.




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