How can we help?

You can also find more resources in our Help Center.

Study sets matching "management accounting"

Study sets
Classes
Users

Study sets matching "management accounting"

25 terms
Management accounting
Overheads
prime
Cost allocations
allocation
日常开支,企业一般管理费用
主要的
成本分配
分配
Overheads
日常开支,企业一般管理费用
prime
主要的
60 terms
Management Accounting
role of accounting
external decision makers (decisions, i…
Internal Decision Makers (decisions, i…
Process of Management
help decision makers measure the costs and benefits of decisi…
- investors and crediors. ... - decide on whether to invest in f…
- decide whether to run promotion, what to purchase, who to h…
- strategy formulation... - planning... - control... - decision making…
role of accounting
help decision makers measure the costs and benefits of decisi…
external decision makers (decisions, i…
- investors and crediors. ... - decide on whether to invest in f…
11 terms
Management Accounting
material price variance (MPV)
material usage variance (MQV)
labour rate variance (LRV)
labour efficiency variance (LEV)
actual price - standard price x actual quantity
actual quantity - standard quantity x standard price
actual rate - standard rate x actual hours
actual hours - standard hours x standard rate per hour
material price variance (MPV)
actual price - standard price x actual quantity
material usage variance (MQV)
actual quantity - standard quantity x standard price
24 terms
Management accounting
Direct cost
Indirect cost
Cost centre
Cost unit
Specific costs that can be identified with a product/service
Labour/material/expense costs which cannot be identified with…
A location/person/item of equipment for which costs may be ac…
A unit of output
Direct cost
Specific costs that can be identified with a product/service
Indirect cost
Labour/material/expense costs which cannot be identified with…
118 terms
Management accounting
Enterprise risk management
Finished goods
Just in time (JIT)
Lean thinking model
A process used by a company to help identify the risks that i…
Units of product that have been completed but have not yet be…
A production and inventory control system in which materials…
A five-step management approach that organizes resources arou…
Enterprise risk management
A process used by a company to help identify the risks that i…
Finished goods
Units of product that have been completed but have not yet be…
18 terms
Management Accounting
Absorption Costing
Variance analysis
When to use Variance Analysis
Materials Total Cost Variance
Overhead per unit = overhead/output
Compare actual costs against standard costing,
Used if resource quantities consumed dffer from expected give…
Actual cost of units - Standard cost of actual units produced
Absorption Costing
Overhead per unit = overhead/output
Variance analysis
Compare actual costs against standard costing,
79 terms
Management accounting
what are the forces in porters 5 forces
what are the 2 strategies to combat th…
what are the forces in SWOT
what other two tools can be used in st…
- Threat of new entry... - Threat of substitutes... - Buyer power... -…
- cost leadership... - product leadership
- strengths... - weaknesses (^ internal factors)... - opportunities…
- value chain analysis... - balanced scorecard approach
what are the forces in porters 5 forces
- Threat of new entry... - Threat of substitutes... - Buyer power... -…
what are the 2 strategies to combat th…
- cost leadership... - product leadership
73 terms
Management: Accounting
What is solvency
What is efficiency
What is profitability
What is auditing
Can I continue to pay my bills and remain as I am
How do I manage my resources
The amount of money earned after all expenses are taken care of
A special area of accounting that deals with VERIFYING the re…
What is solvency
Can I continue to pay my bills and remain as I am
What is efficiency
How do I manage my resources
83 terms
Management Accounting
Traditional Costing
ABC Costing
Predetermined Overhead Rate
What are issues with traditional costi…
1) Only allocate manufacturing overheads... 2) Allocate all manu…
1) Allocate manufacturing and non manufacturing... 2) Exclude so…
Budgeted overhead costs/Budgeted level of activity
- If you automated some of your processes, allocating labor h…
Traditional Costing
1) Only allocate manufacturing overheads... 2) Allocate all manu…
ABC Costing
1) Allocate manufacturing and non manufacturing... 2) Exclude so…
16 terms
Management Accounting Chapter 4
Cost Object
Consumable Resource
Flexible Resource
Capacity-Related Resource
Anything for which a cost is computed.
A resource whose cost depends on the amount of resource that…
AKA Consumable Resource
A resource that its cost depends on the amount of resource ca…
Cost Object
Anything for which a cost is computed.
Consumable Resource
A resource whose cost depends on the amount of resource that…
35 terms
Management Accounting Chapter 3
Cost plus pricing
Target costing
Variable cost
Fixed cost
In markets where the organization can set its price, organiza…
Focus efforts in product and process design on developing a p…
A cost that increases proportionally with changes in the acti…
A cost that does not vary in the short run with a specified a…
Cost plus pricing
In markets where the organization can set its price, organiza…
Target costing
Focus efforts in product and process design on developing a p…
Management accounting
Strategy
Strategy
Levels of strategy
Types of strategies
How objective will be achieved. May have several aspects work…
Goal (objective) strategy (how) tactics (what) operations (co…
Organisation level (industry or business to operate) or busin…
Cost leader ship (Pak n save) or product differentiation (foc…
Strategy
How objective will be achieved. May have several aspects work…
Strategy
Goal (objective) strategy (how) tactics (what) operations (co…
68 terms
Management Accounting
Definieren sie Management Accounting,…
Definition des reinen Management Accou…
Managment Rollen nach Mintzberg.
Erklären sie die Problematik der betri…
-Sicherstellen das Unternehmen nach betriebswirtschaftlichen…
Bereitstellung von finanziellen und nicht finanziallen Inform…
Interpersonelle Rollen: ... -Galionsfigur, Vernetzer, Vorgesetze…
Erfassungdeffekt:... unvollständige Informationen => unbekannte…
Definieren sie Management Accounting,…
-Sicherstellen das Unternehmen nach betriebswirtschaftlichen…
Definition des reinen Management Accou…
Bereitstellung von finanziellen und nicht finanziallen Inform…
27 terms
Management Accounting Chapter 3
Absorption Costing
Allocation Base
Bill of Materials
Cost driver
A costing method that includes all manufacturing costs-direct…
A measure of activity such as direct labor hours or machine h…
A document that shows the quantity of each type of direct mat…
A factor, such as machine-hours, beds occupied, computer time…
Absorption Costing
A costing method that includes all manufacturing costs-direct…
Allocation Base
A measure of activity such as direct labor hours or machine h…
46 terms
Management Accounting- Chapter 2
Account Analysis
Activity Base
Administrative Cost
Committed Fixed Costs
A method for analyzing cot behavior in which an account is cl…
A measure of whatever causes the incurrence of a variable cos…
All executive, organizational and clerical costs associated w…
Investments in facilities, equipment, and basic organizationa…
Account Analysis
A method for analyzing cot behavior in which an account is cl…
Activity Base
A measure of whatever causes the incurrence of a variable cos…
57 terms
Management Accounting - Accounting for Materials
What are the Classifications of invent…
What are the functions that are covere…
What are the reasons for controlling i…
What are the items used to document ev…
1. Raw materials, ... 2. Work in progress, ... 3. Spare parts/Consu…
1. Ordering of inventory, ... 2. Purchasing of inventory, ... 3. Re…
1. Holding costs of inventory may be expensive, ... 2. Productio…
1. Purchase requisition, ... 2. Purchase order, ... 3. Goods receiv…
What are the Classifications of invent…
1. Raw materials, ... 2. Work in progress, ... 3. Spare parts/Consu…
What are the functions that are covere…
1. Ordering of inventory, ... 2. Purchasing of inventory, ... 3. Re…
27 terms
The Manager and Management Accounting
Budget
CFO
Control
Controller
quantitative expression of a proposed plan by mgmt ... aid to co…
finance director... oversees financial operations
taking actions that implement the planning decisions, decidin…
CAO... primarily responsible for mgmt acct and financial account…
Budget
quantitative expression of a proposed plan by mgmt ... aid to co…
CFO
finance director... oversees financial operations
Management Accounting
Role for Accounting
2 classes of decision makers
Types of external decisions
Information needs for external decisions
Help decision makers measure the costs and benefits of decisi…
outside the firm (External), inside the firm (internal)
whether to invest in firm, lend money, calculate taxes owed
differ across users, not cost effective to produce specific i…
Role for Accounting
Help decision makers measure the costs and benefits of decisi…
2 classes of decision makers
outside the firm (External), inside the firm (internal)
28 terms
Management accounting
What does cash from operating activiti…
Operating activities
Investing actives
Financing activities
Ability to generate cash, meet short term obligations, contin…
Relate to the actual day to day business and trading activiti…
Concerned with cash payments to acquire additional non-curren…
Involve how the business is financed; from both internal and…
What does cash from operating activiti…
Ability to generate cash, meet short term obligations, contin…
Operating activities
Relate to the actual day to day business and trading activiti…
57 terms
Management Accounting
A costing system that assigns manufact…
It is used by firms that produce relat…
Direct material is easy to trace.
A costing system that assigns all prod…
What is job costing?
What sort of firms use job costing? Provide examples.
Is direct material easy or difficult to trace in job costing?
What is process costing?
A costing system that assigns manufact…
What is job costing?
It is used by firms that produce relat…
What sort of firms use job costing? Provide examples.
11 terms
Accounting and Management
Accounting
Transaction
Bookeeping
Financial Statements
Is the process of recording, analyzing, and interpurting the…
Any business activity in accounting that involves money is re…
Is the recording of all the business transactions.
Present financial information in a way that helps business ow…
Accounting
Is the process of recording, analyzing, and interpurting the…
Transaction
Any business activity in accounting that involves money is re…
13 terms
Management. Accounting
Activity based costing
Contribution
Zero based budgeting
Variable overhead
Cost based on activity it involves cost pools and cost drivers
How much sales contribute to fixed cost, selling price - vari…
Budgeting with a base of zero every cosy every lone has to be…
Cost that vary but difficult to assign to a particular produc…
Activity based costing
Cost based on activity it involves cost pools and cost drivers
Contribution
How much sales contribute to fixed cost, selling price - vari…
45 terms
Accounting For Managers
Management accounting
Financial accounting
Uses of costs
Manufacturing costs
provides information for managers who direct and control the…
provides information to shareholders, creditors and others wh…
profit measurement, costing for decisions, costing for control
costs incurred in production e.g. direct materials, direct la…
Management accounting
provides information for managers who direct and control the…
Financial accounting
provides information to shareholders, creditors and others wh…
26 terms
Accounting Intro to Management Accounting
What should not be included in final g…
Managerial Accounting
Financial Accounting
Overhead
Lumber ... Metals... Partially completed products
Estimates that promote relevance and timeliness... Economic and…
Factual information that is characterized by objectivity, rel…
Resources other than materials and labor that are used in man…
What should not be included in final g…
Lumber ... Metals... Partially completed products
Managerial Accounting
Estimates that promote relevance and timeliness... Economic and…
54 terms
Management: Accounting
What is auditing
What is bookkeeping
What is an accounting period
Most common accounting period is how l…
A special area of accounting that deals with VERIFYING the re…
The process that documents what is coming in, going out, and…
Period of time over which transactions are recorded and at th…
1 year
What is auditing
A special area of accounting that deals with VERIFYING the re…
What is bookkeeping
The process that documents what is coming in, going out, and…
Management Accounting and Financial Accounting
Management Accounting
Financial Accounting******
Internal Users
External Users
1. Creating financial information... 2. In the form of SPFRs... 3.…
1. External reporting
Management of a firm
1. Suppliers *... 2. Owners*... 3. Lenders*... 4. Employees*... 5. Custom…
Management Accounting
1. Creating financial information... 2. In the form of SPFRs... 3.…
Financial Accounting******
1. External reporting
64 terms
Accounting for Managers
Cost Behaviour
Cost Equation
Y
v
how costs change as volume change (measured through Total Var…
Y = VX + F
Total Mixed Cost
Variable cost per unit of activity
Cost Behaviour
how costs change as volume change (measured through Total Var…
Cost Equation
Y = VX + F
10 terms
account management
Assets
amortization
depreciation
goodwill
varallisuus, varat
kuolettaminen, kuoletus
arvon alenema, arvon lasku
liikearvo
Assets
varallisuus, varat
amortization
kuolettaminen, kuoletus
14 terms
Account Management
Work Initiator and coordinator
Expectations manager
Participator
Client leader
get projects launched, keep things moving with approval
understand what advertising can, can't do, set solid objectiv…
give ideas,d information, encouragement and collaborate with…
anticipate push challenge, not afraid to be pain in the ass t…
Work Initiator and coordinator
get projects launched, keep things moving with approval
Expectations manager
understand what advertising can, can't do, set solid objectiv…
10 terms
Account Management
admin
user
domain
local accounts
most advanced account. held by IT staff. can change security…
allow people to share a computer and network resources, but s…
allows users to access their accounts from any computer on th…
allows access to a specific account only. username and passwo…
admin
most advanced account. held by IT staff. can change security…
user
allow people to share a computer and network resources, but s…
10 terms
Account Management
Account/privilege management
User
Group
Credential management
The process of restricting a user's ability to interact with…
A single individual; the lowest level addressed by privilege…
A collection of users with some common criteria, such as need…
The processes, services, and software used to store, manage,…
Account/privilege management
The process of restricting a user's ability to interact with…
User
A single individual; the lowest level addressed by privilege…
47 terms
Accounting for Managers
General Ledger
General Journal
3 key financial statements
U.S. companies use this to create fina…
Transaction and what happened
account details and balance in account
balance sheet, income statement, and statement of cashflow
GAAP- Generally Accepted Accounting Principles
General Ledger
Transaction and what happened
General Journal
account details and balance in account
39 terms
accounting for managers
Traditional Financial accounting Infor…
Non Financial Information
data
information
Assets,Liabilities, Revenues, Gross , Margin
percentage of defects, customer complaints
financial statements, customer lists, inventory records and t…
data are organized, processed,, and summarized
Traditional Financial accounting Infor…
Assets,Liabilities, Revenues, Gross , Margin
Non Financial Information
percentage of defects, customer complaints
237 terms
accounting for managers
who uses accounting information?
what is Accruals (or Matching) convent…
what is a forcast
what is Contribution?
shareholders, lenders, suppliers, investment analysts, govern…
profit is the excess of revenue over expenses, not the excess…
a statement of what is expected to happen without the interve…
sales revenue minus variable cost, and is usually expressed o…
who uses accounting information?
shareholders, lenders, suppliers, investment analysts, govern…
what is Accruals (or Matching) convent…
profit is the excess of revenue over expenses, not the excess…
22 terms
Cost Accounting: Ch 1 The Manager and Management Accounting
Budget (5 Step Decison Making Process)
Chief Financial Officer
Control (5 Step Decision Making Process)
Controller
A quantitative expression of a proposed plan of action by man…
Also called the financial director in many countries - is the…
Comprises taking actions that implement the planning decision…
Also called the Chief Accounting Officer is the financial exe…
Budget (5 Step Decison Making Process)
A quantitative expression of a proposed plan of action by man…
Chief Financial Officer
Also called the financial director in many countries - is the…
19 terms
Ch 16- Management Accounting
Benchmark Study
Conversion Costs
Direct Labor
Direct Manufacturing Cost
a study designed to show an organization how its costs and pr…
the direct labor and overhead costs required to convert raw m…
payroll costs for employees who work directly on the products…
a manufacturing cost that can be traced conveniently and dire…
Benchmark Study
a study designed to show an organization how its costs and pr…
Conversion Costs
the direct labor and overhead costs required to convert raw m…
49 terms
Management Accounting Chapter 1
The largest U.S. professional organiza…
The branch of accounting that produces…
The branch of accounting that develops…
In the United states, independent acco…
Institute of Management Accountants (IMA)
Management Accounting
Financial Accounting
Certified Public Accountants (CPA)
The largest U.S. professional organiza…
Institute of Management Accountants (IMA)
The branch of accounting that produces…
Management Accounting
29 terms
Cost Accounting Chapter 1: The Manager and Management Accounting
Budget
Chief Financial Officer
Control
Controller
The Quantitative expression of a proposed plan of action by m…
The executive responsible for overseeing the financial operat…
allowing managers to compare actual performance to budgeted p…
The financial executive primarily responsible for management…
Budget
The Quantitative expression of a proposed plan of action by m…
Chief Financial Officer
The executive responsible for overseeing the financial operat…
33 terms
Management Accounting and Controlling
Externes Rechnungswesen
Internes Rechnungswesen
Internes Rechnungswesen:... Drei Hauptauf…
Aufwendungen & Erträge (F.A.)
Externes Rechnungswesen unterliegt... dem Gläubigerschutz.... • Pri…
Internes RW: Staat hält sich weitgehend... raus. Externes RW fas…
Ermittlung des kurzfristigen Betriebserfolges... o rechnerische…
Aufwand: Werteverzehr (wirtschaftlicher Verbrauch / Gebrauch…
Externes Rechnungswesen
Externes Rechnungswesen unterliegt... dem Gläubigerschutz.... • Pri…
Internes Rechnungswesen
Internes RW: Staat hält sich weitgehend... raus. Externes RW fas…
23 terms
Management Accounting Chapter 6
Absorption Costing
Common Fixed Cost
Segment
Segment Margin
a costing method that includes all manufacturing costs-direct…
A fixed cost that supports more than one business segment, bu…
Any part or activity of an organization about which managers…
A segment's contribution margin less its traceable fixed cost…
Absorption Costing
a costing method that includes all manufacturing costs-direct…
Common Fixed Cost
A fixed cost that supports more than one business segment, bu…
15 terms
Accounting - Financial Management (Business)
Start-up budget
Revenue
Expenses
Operating budget
plans income and expenses from the beginning of a new busines…
all income that a business receives over a period of time
costs for operating a business
describes the financial plan for ongoing operations of the bu…
Start-up budget
plans income and expenses from the beginning of a new busines…
Revenue
all income that a business receives over a period of time
10 terms
Management Accounting - Chapter 04
CVP
cost-volume-profit graph
contribution margin ratio
variable expense ratio
Cost-Volume-Profit - powerful tool that helps managers unders…
the relationships among revenues, costs, and level of activit…
the contribution margin as a percentage of total sales
ratio of variable expenses to sales
CVP
Cost-Volume-Profit - powerful tool that helps managers unders…
cost-volume-profit graph
the relationships among revenues, costs, and level of activit…
31 terms
Management Accounting - Chapter 01
managerial accounting
financial accounting
managers
planning
concerns providing information to managers — that is, the peo…
concerns providing information to share-holders, creditors, a…
those in a company responsible for planning, directing and mo…
establishing goals and specifying how to achieve them
managerial accounting
concerns providing information to managers — that is, the peo…
financial accounting
concerns providing information to share-holders, creditors, a…
59 terms
Management Accounting (R-S)
Range of acceptable transfer prices
Raw materials
Reciprocal method
Reductionist model of humanity
The range of transfer prices within which the profits of both…
Any materials that go into the final product (p. 24).
A method of allocating service department costs that gives fu…
View that emphasizes material goals rather than creative and…
Range of acceptable transfer prices
The range of transfer prices within which the profits of both…
Raw materials
Any materials that go into the final product (p. 24).
17 terms
Chapter 1: The Manager and Management Accounting
Financial Accounting
Managerial Accounting
Why take an accounting course?
Opportunity Cost
serves decision makers externally-investors, creditors/IRS
serves decision makers inside the firm- managers
1.its your decision, not your accountants... 2. never use data y…
value of what you give up by making a decision (value of the…
Financial Accounting
serves decision makers externally-investors, creditors/IRS
Managerial Accounting
serves decision makers inside the firm- managers
33 terms
Management Accounting (T - Z)
Target costing
Theory of constraints (TOC)
Throughput accounting (TA)
Throughput accounting ratio
The process of determining the maximum allowable cost for a n…
A management approach that emphasizes the importance of manag…
Ranking products by calculating the throughput accounting rat…
Return per factory hour divided by cost per factory hour (p.…
Target costing
The process of determining the maximum allowable cost for a n…
Theory of constraints (TOC)
A management approach that emphasizes the importance of manag…
56 terms
Management Accounting (N-Q)
Negotiated transfer price
Net present value
new public management
Non-value-added activity
A transfer price agreed on between buying and selling divisio…
The difference between the present value of the cash inflows…
refers to many of the reforms in the public sector that have…
An activity that consumes resources or takes time but that do…
Negotiated transfer price
A transfer price agreed on between buying and selling divisio…
Net present value
The difference between the present value of the cash inflows…
60 terms
Management Accounting (I - M)
Ideal standards
incremental analysis
Incremental cost
Incrementalism
Standards that allow for no machine breakdowns or other work…
An analysis approach that focuses only on those items of reve…
An increase in cost between to alternatives. Also see Differe…
Increasing or decreasing existing budgets by small amounts wi…
Ideal standards
Standards that allow for no machine breakdowns or other work…
incremental analysis
An analysis approach that focuses only on those items of reve…
22 terms
Cost Accounting: Ch 1 The Manager and Management Accounting
Budget (5 Step Decison Making Process)
Chief Financial Officer
Control (5 Step Decision Making Process)
Controller
A quantitative expression of a proposed plan of action by man…
Also called the financial director in many countries - is the…
Comprises taking actions that implement the planning decision…
Also called the Chief Accounting Officer is the financial exe…
Budget (5 Step Decison Making Process)
A quantitative expression of a proposed plan of action by man…
Chief Financial Officer
Also called the financial director in many countries - is the…
120 terms
Glossary Management Accounting
Absorption costing
Activity Based Costing (ABC)
Administration costs.
Allocation
A method for sharing overheads between different products on…
An approach to the costing and monitoring of activities which…
The costs of managing an organisation.
The process by which whole cost items are charged direct to a…
Absorption costing
A method for sharing overheads between different products on…
Activity Based Costing (ABC)
An approach to the costing and monitoring of activities which…
2 of 10