Unit 5: Managerial accounting - short ans

What are some examples off integrated information systems mentioned in the passage?

- integrated information systems (hệ thống thông tin tích hợp) tie together:

+ managerial accounting

+ financial reporting

+ customer databases

+ supply chain management

+ other database

- Example: the Enterprise Resource Planning Systems (ERPS) Phần mềm Hoạch định Nguồn lực Doanh nghiệp

How does web hosting benefit companies according to the passage?

- Web hosting (dịch vụ lưu trữ web): a service provided by companies that allows other organizations to store and maintain websites and web applications on their serves

- web hosting enables company to focus on its core competencies while taking advantage of the host's server and bandwidth capabilities

Name one company renowned for implementing the just-in-time production phylosophy?

General Electric, Lincoln Electric

How does the implementation of just-in-time production affect the workload of accounting/finance personnel?

- Firm using JIT methods keep inventories (hàng tồn kho) to a minimum → inventories low → accountants can spend less time on inventory valuation (định giá hàng tồn kho) for external reporting (báo cáo bên ngoài)

What is the focus of total quality management (TQM) - hệ thống quản trị chất lượng toàn diện according to the passage?

TQM focus on excelling in all dimensions (trở nên vượt trội ở mọi mặt)

In the Theory of Constraint (TOC) - lý thuyết ràng buộc, what is defined as the weakest link?

- the weakest link is the constraint that limits the scope of the rest of the process

Why does a company focus on the weakest link in the TOC methodology

- because when the weakest link is solved, the constraint that limit the scope of the rest of the process will no longer exist. therefor, the chain of the company will be strengthened

Explain the concept of benchmarking as described in the passage

- definition of "benchmarking":

+ the continuous process of measuring one's own products, services and activities against the best levels of performance

- The benchmarks might be inside one's own organization or in other organization

Name a company besides Toyota that has effectively utilized benchmarking and continuous improvement

Daimler-Chrysler and Xerox

Why is benchmarking considered "the race with no finish" according to the passage?

because managers and employees avoid complacency with a particular performance level by seeking ongoing improvement