By Michael R. Kinney (Author), Cecily A. Raiborn (Author)

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Extra resources for Cost Accounting: Foundations and Evolutions (Available Titles Cengagenow)

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2 mission statement, p. 8 organizational structure, p. 10 product cost, p. 5 product differentiation, p. 9 responsibility, p. 10 return on investment (ROI), p. 2 staff personnel, p. 10 strategy, p. 8 upstream cost, p. 3 value chain, p. 1 16 Accounting Information, Types • Accounting - provides information to external parties (stockholders, creditors, and various regulatory bodies) for investment and credit decisions. - helps an organization estimate the cost of its products and services. - provides information useful to internal managers who are responsible for planning, controlling, decision making, and evaluating performance.

A. How does a mission statement add strength to the strategic planning process? b. Who should be involved in developing a mission statement and why? c. What factors should be considered in the development of a mission statement? Why are these factors important? d. Prepare a mission statement for Best Appliances and discuss how your mission statement will provide benefits to strategic planning. Ethics 22. 4 (Mission statement; writing) Mission statements are intended to indicate what an organization does and why it exists.

One of your most popular positions is that you want to reduce the costs of doing business in the United States. When asked how you intended to accomplish this, you replied, “By seeking to repeal all laws that create unnecessary costs. ” Congress heard the message loud and clear and has decided to repeal all environmental protection laws. a. Discuss the short-term and long-term implications of such a policy. b. S. companies? Ethics c. What reactions would you expect to such a policy from (1) other industrialized nations and (2) developing countries?

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