tailieunhanh - Lecture Introduction to managerial accounting: Chapter 1 - Folk, Garrison, Noreen

Chapter 1 - Introduction to managerial accounting and cost concepts. After studying Chapter 1, you should be able to: Identify and give examples of each of the three basic manufacturing cost categories, distinguish between product costs and period costs and give examples of each, prepare an income statement including calculation of the cost of goods sold,. | Introduction to Managerial Accounting and Cost Concepts Chapter1 Managerial Accounting and Financial Accounting Managerial accounting provides information for managers of an organization who direct and control its operations. Financial accounting provides information to stockholders, creditors and others who are outside the organization. Work of Management Planning Controlling Directing and Motivating Planning and Control Cycle Formulating Long-and Short-Term Plans (Planning) Measuring Performance (Controlling) Comparing Actual to Planned Performance (Controlling) Implementing the Plans (Directing and Motivating) Begin Decision Making Differences Between Financial and Managerial Accounting MegaLoMart Comparing Merchandising and Manufacturing Activities Merchandisers . . . Buy finished goods. Sell finished goods. Manufacturers . . . Buy raw materials. Produce and sell finished goods. The Product Direct Materials Direct Labor Manufacturing Overhead Manufacturing Costs Direct Materials Those materials that become an integral part of the product and that can be conveniently traced directly to it. Example: A radio installed in an automobile Direct Labor Those labor costs that can be easily traced to individual units of product. Example: Wages paid to automobile assembly workers Manufacturing costs that cannot be traced directly to specific units produced. Manufacturing Overhead Examples: Indirect labor and indirect materials Wages paid to employees who are not directly involved in production work. Examples: maintenance workers, janitors and security guards. Materials used to support the production process. Examples: lubricants and cleaning supplies used in the automobile assembly plant. Classifications of Costs Direct Material Direct Labor Manufacturing Overhead Prime Cost Conversion Cost Manufacturing costs are often classified as follows: Nonmanufacturing Costs Marketing and selling costs . . . Costs necessary to get the order and deliver the product. . | Introduction to Managerial Accounting and Cost Concepts Chapter1 Managerial Accounting and Financial Accounting Managerial accounting provides information for managers of an organization who direct and control its operations. Financial accounting provides information to stockholders, creditors and others who are outside the organization. Work of Management Planning Controlling Directing and Motivating Planning and Control Cycle Formulating Long-and Short-Term Plans (Planning) Measuring Performance (Controlling) Comparing Actual to Planned Performance (Controlling) Implementing the Plans (Directing and Motivating) Begin Decision Making Differences Between Financial and Managerial Accounting MegaLoMart Comparing Merchandising and Manufacturing Activities Merchandisers . . . Buy finished goods. Sell finished goods. Manufacturers . . . Buy raw materials. Produce and sell finished goods. The Product Direct Materials Direct Labor Manufacturing Overhead Manufacturing Costs Direct Materials

• Kế toán - Kiểm toán
• Managerial accounting
• Systems design
• Lecture Managerial accounting
• Business environment
• Financial accounting
• Product costs
• Managerial accounting for managers
• Profitability analysis
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Kế toán quản trị
• Managerial accounting information
• General cost classifi cations
• 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
• 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