tailieunhanh - Lecture Financial and managerial accounting (2nd Edition): Chapter 15 - Weygandt, Kimmel, Kieso

Chapter 15 - Managerial accounting. This chapter’s objectives are to: Identify the features of managerial accounting and the functions of management, describe the classes of manufacturing costs and the differences between product and period costs, demonstrate how to compute cost of goods manufactured and prepare financial statements for a manufacturer. | Managerial Accounting 15 Learning Objectives Identify the features of managerial accounting and the functions of management. Demonstrate how to compute cost of goods manufactured and prepare financial statements for a manufacturer. 3 Discuss trends in managerial accounting. 1 4 Describe the classes of manufacturing costs and the differences between product and period costs. 2 Managerial accounting provides economic and financial information for managers and other internal users. LEARNING OBJECTIVE Identify the features of managerial accounting and the functions of management. 1 LO 1 Comparing Managerial and Financial Accounting Illustration 15-1 Differences between financial and managerial accounting LO 1 Planning Maximize short-term profit and market share. Commit to environmental protection and social programs. Add value to the business. Directing Controlling Coordinate diverse activities and human resources. Implement planned objectives. Provide incentives to motivate employees Hire and train employees. Produce a smooth-running operation. Keeping activities on track. Determine whether goals are met. Decide changes needed to get back on track. May use an informal or formal system of evaluations. Management Functions LO 1 Louis Vuitton Even the Best Have to Get Better Luxury-goods manufacturers used to consider stockouts to be a good thing. But recently, Louis Vuitton, a French manufacturer of high-end handbags, wallets, and suitcases, changed its attitude. The company adopted “lean” processes used by car manufacturers and electronics companies to speed up production of “hot” products. Work is done by flexible teams, with jobs organized based on how long a task takes. By reducing wasted time and eliminating bottlenecks, what used to take 20 to 30 workers eight days to do now takes only 6 to 12 workers one day. Other efforts included organizing 10-person factory teams into U-shaped clusters. This arrangement freed up floor space, allowing Louis Vuitton to hire 300 | Managerial Accounting 15 Learning Objectives Identify the features of managerial accounting and the functions of management. Demonstrate how to compute cost of goods manufactured and prepare financial statements for a manufacturer. 3 Discuss trends in managerial accounting. 1 4 Describe the classes of manufacturing costs and the differences between product and period costs. 2 Managerial accounting provides economic and financial information for managers and other internal users. LEARNING OBJECTIVE Identify the features of managerial accounting and the functions of management. 1 LO 1 Comparing Managerial and Financial Accounting Illustration 15-1 Differences between financial and managerial accounting LO 1 Planning Maximize short-term profit and market share. Commit to environmental protection and social programs. Add value to the business. Directing Controlling Coordinate diverse activities and human resources. Implement planned objectives. Provide incentives to motivate employees .

• Kế toán - Kiểm toán
• Managerial accounting
• Financial and managerial accounting
• Managerial accounting
• Manufacturing costs
• Management functions
• Organizational structure
• Managerial accounting for managers
• Lecture Managerial accounting
• Profitability analysis
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Kế toán quản trị
• Managerial accounting information
• General cost classifi cations
• Product costs
• Process costing
• Standard costing systems
• Accounting information
• Managerial decision
• Process management
• Financial statement
• Cost concepts
• Managerial accounting basics
• Managerial cost
• Period costs
• Lecture Financial and managerial accounting
• Financial statements
• Managerial decisions
• Financial accounting
• Dynamic business environment
• Reporting manufacturing activities
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Relevant costing
• Accounting activities
• Business activities
• Income statement
• Accounting cycle
• Accounting for merchandising operations
• Merchandising operations
• Capital budgeting decisions
• Time value of money
• Income taxes
• After tax cost