100% tevredenheidsgarantie Direct beschikbaar na je betaling Lees online óf als PDF Geen vaste maandelijkse kosten
logo-home
Summary Managerial Accounting €8,49
In winkelwagen

Samenvatting

Summary Managerial Accounting

 0 keer verkocht

A summary about "Managerial Accounting".

Voorbeeld 4 van de 34  pagina's

  • 5 januari 2022
  • 34
  • 2021/2022
  • Samenvatting
Alle documenten voor dit vak (5)
avatar-seller
emiliedimitriou
MANAGERIAL ACCOUNTING
30 NOVEMBER 2021




International Business Management
Prof. A. Resing
2021 – 2022

,Table of Contents
CHAPTER 1: THE MANAGER AND MANAGEMENT ACCOUNTING....................................................................4


CHAPTER 2: AN INTRODUCTION TO COST TERMS AND PURPOSES..................................................................5


2.1 COST CLASSIFICATIONS.......................................................................................................................................5
Direct vs. indirect costs....................................................................................................................................5
fixed vs. variable costs.....................................................................................................................................5
Budgeted vs. actual costs.................................................................................................................................6
product vs. period costs...................................................................................................................................6
2.2 CALCULATION: COST OF GOODS SOLD....................................................................................................................7


CHAPTER 3: COST-VOLUME-PROFIT ANALYSIS............................................................................................... 8


3.1: EXAMPLE WITH A BMW X6..............................................................................................................................8
Variable Costs...................................................................................................................................................8
Fixed Costs........................................................................................................................................................8
Total Costs........................................................................................................................................................9
Total Revenues.................................................................................................................................................9
CVP: Graphically...............................................................................................................................................9
3.2 SELLING HOTDOGS AT GROENPLAATS..................................................................................................................10
3.3 PROBLEM 3-27: CVP-ANALYSIS, INCOME TAXES...................................................................................................10
3.4 MARGINS OF SAFETY.......................................................................................................................................11
3.5 EXAMPLE – PROBLEMS..............................................................................................................................12


CHAPTER 4: JOB COSTING............................................................................................................................ 13


4.1 2 TYPES OF COSTING SYSTEMS:..........................................................................................................................14
4.2 7 STEP APPROACH TO JOB COSTING....................................................................................................................15
4.3 UNDERALLOCATED OR OVERALLOCATED INDIRECT COSTS........................................................................................15
4.4 EXAMPLES – PROBLEMS............................................................................................................................15


CHAPTER 5: ACTIVITY BASED COSTING AND ACTIVITY BASED MANAGEMENT..............................................16


5.1 BROAD AVERAGING AND ITS CONSEQUENCES........................................................................................................16
Peanut butter costing.....................................................................................................................................17
5.2 UNDER- AND OVERCOSTING..............................................................................................................................17
strategic consequences of under or overcosting............................................................................................17
5.3 COST REFINEMENT..........................................................................................................................................18
How do you refine a costing system?.............................................................................................................18
5.4 EXAMPLES – PROBLEMS...................................................................................................................................19


CHAPTER 6: MASTER BUDGET AND RESPONSIBILITY ACCOUNTING..............................................................19


6.1 BUDGET........................................................................................................................................................20
Budgeting cycle and master budget..............................................................................................................20
6.2 THE BUDGETING PROCESS................................................................................................................................21
6.3 APPENDIX: THE CASH BUDGET...........................................................................................................................21
example: mi casa corp...................................................................................................................................22


2
Emilie Dimitriou

,CHAPTER 7: FLEXIBLE BUDGETS AND VARIANCES......................................................................................... 22


7.1 WHAT ARE VARIANCES?...................................................................................................................................22
7.2 VARIANCE ANALYSIS........................................................................................................................................23
7.3 STATIC BUDGET VARIANCES: DIFFERENCE BETWEEN ORIGINAL BUDGET AND THE ACTUALS..............................................23
HOW?.............................................................................................................................................................24
Flexing the budget..........................................................................................................................................24
7.4 PRICE AND EFFIENCY VARIANCES........................................................................................................................26
7.5 EXAMPLES – PROBLEMS:.................................................................................................................................27


CHAPTER 8: CAPITAL BUDGETING & COST ANALYSIS....................................................................................27


8.1 BASIC PROBLEM OF CAPITAL BUDGETING..............................................................................................................27
time value of money.......................................................................................................................................28
future values..................................................................................................................................................28
present values................................................................................................................................................29
8.2 VALUING MULTPLE CASH FLOWS........................................................................................................................30
multiple cash flows: Future value..................................................................................................................30
multiple cash flows: present value.................................................................................................................30
8.3 ANNUITIES.................................................................................................................................................... 31
present value concept....................................................................................................................................31
8.4 NET PRESENT VALUE AND OTHER INVESTMENT CRITERIA.........................................................................................31
investment appraisal techniques...................................................................................................................32




3
Emilie Dimitriou

, CHAPTER 1: THE MANAGER AND MANAGEMENT
ACCOUNTING

Managerial versus Financial Accounting:

Managerial Accounting Financial Accounting
- Internal reporting - External reporting
- Specification of users - Rules and regulations
- Continuous provision of - Periodic provision of information
information - Historical
- Future-oriented

Management accounting is the process of:
- Measuring
- Analyzing
- Reporting

Financial and non-financial information that helps managers make decisions to fulfill the
goals of an organization.

Managers use management accounting information to:
1. Develop communicate, and implement strategies
2. Coordinate product design, production and marketing decisions and evaluate a
company’s performance.

Management accounting information and reports do not have to follow set principles or
rules. The key questions are always:
 How will this information help managers do their jobs better?
 Do the benefits of producing this information exceed the costs?

5 areas in which management accountants provide information:

 Planning and controlling the organization
 Cost-Price calculation
 Cost allocation
 Investment appraisal
 Cost-Volume-Profit Analysis/BEP analysis

“Information should be provided timely in the required formats.”

Cost accounting:

Cost accounting provides information for both management accounting and financial
accounting professionals.

It’s the process of measuring, analyzing and reporting financial and non-financial
information related to the cost of acquiring or using resources in an organization.

 Cost accounting is part of management accounting!




4
Emilie Dimitriou

Dit zijn jouw voordelen als je samenvattingen koopt bij Stuvia:

Bewezen kwaliteit door reviews

Bewezen kwaliteit door reviews

Studenten hebben al meer dan 850.000 samenvattingen beoordeeld. Zo weet jij zeker dat je de beste keuze maakt!

In een paar klikken geregeld

In een paar klikken geregeld

Geen gedoe — betaal gewoon eenmalig met iDeal, Bancontact of creditcard en je bent klaar. Geen abonnement nodig.

Focus op de essentie

Focus op de essentie

Studenten maken samenvattingen voor studenten. Dat betekent: actuele inhoud waar jij écht wat aan hebt. Geen overbodige details!

Veelgestelde vragen

Wat krijg ik als ik dit document koop?

Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.

Tevredenheidsgarantie: hoe werkt dat?

Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.

Van wie koop ik deze samenvatting?

Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper emiliedimitriou. Stuvia faciliteert de betaling aan de verkoper.

Zit ik meteen vast aan een abonnement?

Nee, je koopt alleen deze samenvatting voor €8,49. Je zit daarna nergens aan vast.

Is Stuvia te vertrouwen?

4,6 sterren op Google & Trustpilot (+1000 reviews)

Afgelopen 30 dagen zijn er 69411 samenvattingen verkocht

Opgericht in 2010, al 15 jaar dé plek om samenvattingen te kopen

Start met verkopen
€8,49
  • (0)
In winkelwagen
Toegevoegd