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Samenvatting Management accounting KU Leuven
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Samenvatting Management accounting KU Leuven
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Management accounting - HandelsingenieurHOOFDSTUK 1
1. Role of management accountants
• Accountancy
• Management vs. Financial Accounting
• Role of the management accountant
A. Accountancy
▪ involves
o the collection,
o summarisation, and
o reporting of financial information
Accounting as an information system
Uitleg:
Verschillende mensen maken gebruik van de informatie vb. Banken of ze al dan niet een lening
moeten geven. De overheid die kijken naar bedrijven hoeveel tax ze moeten betalen.
B. Management vs. Financial accounting
1
,Activiteiten
> verschillende accounting systemen voor verschillende doeleinden.
Uitleg:
• Bookkeeping: systematisch registreren van elke activiteit die een impact kan hebben op
uw financiële situatie. ( actief, passief, kosten en opbrengsten )
• Consolidation: samenvoegen van de individuele rapporten van verschillende bedrijven
zodat je ze onder één groep kan plaatsen en een gezamenlijke uitspraak/overzicht kan
maken.
• Financial statement analysis: je wilt de financiële toestand van een bedrijf bepalen als
extern persoon. Is het bedrijf gezond of niet?
• Externe auditing: kijken of de financiële rapporten zijn opgesteld volgens de wettelijke
regels. Is verplicht door de wet.
Management Accounting
• Management accounting is directed at internal reporting
̶̶ Importance of value chain analysis
̶̶ Importance of planning & control systems
Value Chain Analysis
• Which functions can be identified in the value chain, which dependencies can be made,
and what are the consequences for the management accounting system?
Uitleg:
• Zeer belangrijk dat je weet hoe uw bedrijf in elkaar zit.
• De meeste voorbeelden die gegeven gaan worden gaan over productie gaan.
2
,Planning en controle systeem
• Organizations need useful planning and control systems to develop and implement
their strategy
C. Role of management accountants
Contribution of management accountants to the company’s decisions about strategy, planning and
control:
• Problem solving/Decision-making
̶̶ Planning: most important tool = budget
̶̶ Wat als een bedrijf een extern export bedrijf wil inhuren. Dat is beslissing die
genomen moet worden. = decision making. Zal er vanaf hangen welke optie het
meeste voordeel oplevert in evenwicht met de kost.
• Scorekeeping
̶̶ Performance measurement
̶̶ Is informatie verzamelen om te zien waar je staat.
• Attention directing
̶̶ Control: taking actions that implement planning decisions, deciding how to evaluate
performance, providing feedback to help future decision making
Management accounting guidelines
▪ Cost–benefit approach is commonly used: benefits generally must exceed costs as a
basic decision rule.
o De voordelen moeten groter zijn dan de kost om het te doen.
▪ Behavioral and technical considerations—people are involved in decisions, not
just euros/dollars and cents.
o Gaat over meer dan alleen geld
▪ Different costs for different purposes
Position of management accountants within organization structure
• Line management
̶̶ E.g. production, marketing, distribution management
̶̶ Directly responsible for attaining organizational goals
• Staff management
̶̶ E.g. management accountants, IT, HRM
̶̶ Provide advice and assistance to line management
̶̶ Staff management geeft advies aan lijnmanagement.
• Today: teams, line versus staff is less clear-cut
3
, Typical Organizational Structure and the Management Accountant
Professional Ethics
▪ The four standards of ethical conduct for management accountants as advanced by
the Institute of Management Accountants:
o Competence
o Confidentiality
o Integrity
o Objectivity
HOOFDSTUK 2
COST TERMINOLOGY
• General cost terms
• Direct – Indirect (assignment)
• Fixed – Variable (behaviour)
• Product/inventoriable – Period costs (timing expenses)
̶̶ Op welke momenten worden de kosten in de resultatenrekening geplaatst = timing
expenses.
• Manufacturing – Marketing etc. (function)
• Total – Unit (level of aggregation)
➢ Different costing (systems) for different purposes
Cost terms
• ‘Cost’ is not the same as ‘cash outflow’ !!!!
̶̶ Actual cost = cost incurred (historical, past cost)
̶̶ Budgeted cost = predicted or forecasted cost (future cost)
• ‘Cost’ are made to the benefit of a product, service, process, machine, department,
business unit
‘Cost object’ = anything for which a measurement of costs is desired
• Are those costs easy to determine/assign?
̶̶ Type of cost?, For what department/activity?
4
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