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1-20 Role of financial information for continuous improvement

1-20 Role of financial information for continuous improvement
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MANAGEMENT ACCOUNTING
Management Accounting (Atkinson), 5th Edition
1-20 (Role of financial information for continuous improvement) Consider an organization that has empowered its employees, asking them to improve the quality, productivity, and responsiveness of their processes that involve repetitive work. This work could arise in a manufacturing setting, such as assembling cars or producing chemicals, or in a service setting, such as processing invoices or responding to customers’ orders and requests. Clearly the workers would benefit from feedback on the quality (defect, yields) and process times. Be specific about the types of financial information that would be helpful and the specific decisions or actions that could be made better by supplementing physical and operational information with financial information.

 

FILE: MS WORD

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