tailieunhanh - Lecture Accounting: What the numbers mean (10/e): Chapter 12 - Marshall, McManus, Viele

Chapter 12 - Managerial accounting and cost-volume-profit relationships. After reading this chapter, you should be able to answer the following questions: What is the managerial planning and control cycle? What are the major differences between financial accounting and managerial accounting? What is the difference between variable and fixed cost behavior patterns, and what simplifying assumptions are made in this classification method? | © 2008 The McGraw-Hill Companies, Inc., All Rights Reserved. Accounting: What The Numbers Mean Tenth Edition Marshall, McManus, and Viele Chapter 12 Managerial Accounting and Cost–Volume–Profit Relationships PowerPoint Authors: Susan Coomer Galbreath, ., CPA Charles W. Caldwell, ., CMA Jon A. Booker, ., CPA, CIA Cynthia J. Rooney, ., CPA Chapter 12: Managerial Accounting and Cost-Volume-Profit Relationships L O 1 The Management Process 12- Learning Objective 1: Explain the management planning and control cycle. Planning is a key part of the management process; and although there are many descriptions of that process, a generally acceptable definition would include reference to the process of planning, organizing, and controlling an entity’s activities so that the organization can achieve its desired outcomes. A general model of the process looks like the diagram shown on the screen. The model suggests that control is achieved through feedback. Actual results are compared to planned results; if a difference exists between the two, then either the plan or the actions, or perhaps both, are changed. Management decision making occurs in each phase of the planning and control cycle using information provided by the accounting information system in an effort to continuously improve organizational performance. Managerial Accounting versus Financial Accounting Managerial accounting supports the internal planning (future-oriented) decisions made by management. Financial accounting has more of a scorekeeping, historical orientation that provides information to owners and others outside the organization. L O 2 12- Learning Objective 2: Identify the major differences between financial accounting and managerial accounting. Managerial accounting supports the internal planning (future-oriented) decisions made by management. Financial accounting has more of a scorekeeping, historical orientation that provides information to owners and others outside the . | © 2008 The McGraw-Hill Companies, Inc., All Rights Reserved. Accounting: What The Numbers Mean Tenth Edition Marshall, McManus, and Viele Chapter 12 Managerial Accounting and Cost–Volume–Profit Relationships PowerPoint Authors: Susan Coomer Galbreath, ., CPA Charles W. Caldwell, ., CMA Jon A. Booker, ., CPA, CIA Cynthia J. Rooney, ., CPA Chapter 12: Managerial Accounting and Cost-Volume-Profit Relationships L O 1 The Management Process 12- Learning Objective 1: Explain the management planning and control cycle. Planning is a key part of the management process; and although there are many descriptions of that process, a generally acceptable definition would include reference to the process of planning, organizing, and controlling an entity’s activities so that the organization can achieve its desired outcomes. A general model of the process looks like the diagram shown on the screen. The model suggests that control is achieved through feedback. Actual results are .