TAILIEUCHUNG - Ebook Fundamental managerial accounting concepts: Part 2

(BQ) Part 2 book "Fundamental managerial accounting concepts" has contents: Performance evaluation, responsibility accounting, planning for capital investments, planning for capital investments, statement of cash flows, financial statement analysis,.and other contents. | Page 348 7/15/10 9:11 PM user-f497 /Volumes/105/PHS00142/work/indd CHAPTER 8 Performance Evaluation LEARNING OBJECTIVES After you have mastered the material in this chapter you will be able to: 1 2 3 4 5 6 7 Describe flexible and static budgets. Classify variances as being favorable or unfavorable. Compute and interpret sales and variable cost volume variances. Compute and interpret flexible budget variances. Calculate and interpret fixed cost variances. Explain standard cost systems. Calculate and interpret price and usage variances. CHAPTER OPENING Suppose you are a carpenter who builds picnic tables. You normally build 200 tables each year (the planned volume of activity), but because of unexpected customer demand, you are asked to build 225 tables (the actual volume of activity). You work hard and build the tables. Should management chastise you for using more materials, labor, or overhead than you normally use? Should management criticize the sales staff for selling more tables than expected? Of course not. Management must evaluate performance based on the actual volume of activity, not the planned volume of activity. To help management plan and evaluate performance, managerial accountants frequently prepare flexible budgets based on different levels of volume. Flexible budgets flex, or change, when the volume of activity changes. 348 Page 349 7/15/10 9:11 PM user-f497 /Volumes/105/PHS00142/work/indd The Curious Accountant Gourmet Pizzas is located in an affluent section of a major metropolitan area. Its owner worked at a nationalchain pizza restaurant while in college. He knew that even though the national pizza chains had a lot of stores, (in 2010 Domino’s, Pizza Hut, and Papa John’s had approximately 14,000 stores in the United States), more than half of the country’s pizzas were sold by other, mostly independently owned, restaurants. Knowing .

• Kế toán - Kiểm toán
• Fundamental managerial accounting concepts
• Fundamental managerial
• Fundamental managerial accounting
• Performance evaluation
• Responsibility accounting
• Financial statement analysis
• Increase profitability
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Lecture Managerial accounting
• Fundamental concepts
• Regulatory framework
• Economic depreciation
• Measuring product costs
• Activity based management
• Financial modeling
• Capital expenditure decisions
• Capital budgeting
• Managerial decisions
• Managerial decision scenarios