Prelim - ACCTG 202

• Management Advisory Services refers to that area of accounting work concerned with providing advice and technical assistance to help clients improve the use of their resource to achieve their goals.
• Management Advisory Services is also called management consulting services, business advisory services, and management services.
• Consulting process is the analytical approach and process applied in a consulting service.
• Activities involved in a consulting process: determining of client objectives, fact-finding, definition of the problems or opportunities, evaluation of alternatives, formulation of proposed action, communication of results, implementation, and follow-up.
• Consulting services are professional services that employ practitioner's technical skills, education, observations, experience, and knowledge of the consulting process.
• Management Consultant is a person who is qualified by education, experience, technical ability, and temperament to advise or assist businessmen on a professional basis in identifying, defining, and solving specific management problems involving the organization, planning, direction, control, and operation of the firm.
• Consultation is that the practitioner provides counsel in a short time frame, based mostly on existing personal knowledge about the client, the technical matters involved, the circumstances, client representations, and the mutual intent of the parties.
• Product services is that the practitioner's function is to provide with a product and related professional services in support of the installation, use, or maintenance of the product.
• Transaction services is that the practitioner's function is to provide services related to a specific client transaction, generally with a third party.
• Implementation services is that the practitioner's function is to put an action plan into effect.
• Consulting services are: consultations, advisory services, implementation services, transaction services, staff and other support services, and product services.
• Management Advisory Services are usually related to the services rendered by CPAs in the areas of auditing, tax, and accounting.
• CPAs performing management consulting and other advisory services are considered in the practice of professional accounting and are bound by the Code of Ethics for Professional Accountants.
• Consulting management in its analysis, planning, organizing, operating, and controlling functions.
• Reviewing and suggesting improvement in policies, procedures, systems, methods, and organizational relationships.
• Conducting special studies, proposing plans and programs, and providing guidance and technical assistance in their implementation.
• Introducing new ideas, concepts, and methods to management.
• Design stage consists of evaluating and determining possible solutions and presenting findings and recommendations.
• Analysis stage consists of ascertaining the pertinent facts and circumstances, seeking and identifying objectives, and defining the problem or opportunity for improvement.
• Implementation stage consists of planning and scheduling actions and advising and providing technical assistance in implementing.
• In case the client requests the consultant to proceed, the latter may so be involved in: planning and scheduling actions, and advising and providing technical assistance in implementing.
• Management is the process of planning, organizing, and controlling tasks to achieve or meet the goals of organization.
• Functions of management are: planning, directing/motivating, controlling, and decision-making
• Standards for ethical conduct for MA: competence, integrity, confidentiality and objectivity
• Line position exercises downward authority or the authority to give command.
• Line position are people who are directly responsible for achieving organizational goals.
• Staff position exercises an upward or lateral authority.
• Staff position provides services and advice to line managers.
• Strategic plan is a document written by leaders of an organization that enables the organization to be innovative, adaptable, and increase its competitive advantage for a time span of 3-10 years
• Strategic plan is based on the organization's vision, containing goals created to enable the organization to fulfill its vision and tactics to accomplish goals.
• Strategic planning is the process you use to: establish and document a clear direction for your organization, identify business goals and set priorities that create growth for your company, formulate a long-term of action designed to achieve these objectives, and determine an internal system tracking and evaluating performance.
• Tactics describe the individual steps and actions that allow the strategy to be carried out.
• Strategy is your high-level battle plan for guiding marketing tactics
• Tactics are your specific actions that help execute your marketing strategy.
• Vision - who are we
• Mission - what do we do
• Core Values - principles and priorities that guide an organization's actions
• USJR VISION: We envision the University of San Jose-Recoletos to be a premier Gospel and Community-oriented educational institution committed to lead in instruction, research, community engagement, and innovation in order to transform Josenians into proactive and compassionate leaders, creators of communion, and dynamic partners of society in the 21st Century.
• USJR CORE VALUES: Interiority, National, Service, Pioneerism,Integrity, and Reliability
• Environmental scanning are: domain, competitors, customers, partners, structure