TAILIEUCHUNG - Ebook Accounting - An introduction (5th edition): Part 2

(BQ) Part 2 book "Accounting - An introduction" has contents: Costing and performance evaluation in a competitive environment, accounting for control, making capital investment decisions, financing a business, managing working capital. | Find more at CHAPTER 11 Costing and performance evaluation in a competitive environment Introduction n recent years we have seen major changes in the business world, including deregulation, privatisation, the growing expectations of shareholders and the impact of new technology. These have led to a much more fast-changing and competitive environment that has radically altered the way in which businesses are managed. In this chapter, we consider some of the management accounting techniques that have been developed to help businesses maintain their competitiveness in this new era. We begin by considering the impact of this new environment on the full-costing approach that we considered in Chapter 10. We shall see that activity-based costing, which is a development of the traditional full-costing approach, takes a much more enquiring, much less accepting attitude towards overheads. We shall also examine some recent approaches to costing that can help lower costs and, therefore, increase the ability of a business to compete on price. Management accounting embraces both financial and non-financial measures and, in this chapter, we shall consider the increasing importance of non-financial measures in managing a business. These include the balanced scorecard approach, which seeks to integrate financial and non-financial measures into a framework for the achievement of business objectives. Finally, we consider the idea of shareholder value, which has been a ‘hot’ issue among managers in recent years. Many leading businesses now claim that the quest for shareholder value is the driving force behind strategic and operational decisions. We consider what the term ‘shareholder value’ means and we shall look at one of the main methods of measuring shareholder value. I Learning outcomes When you have completed this chapter, you should be able to: ● Discuss the nature and usefulness of activity-based costing. ● Explain how new developments such

• Kế toán - Kiểm toán
• Accounting for control
• Making capital investment decisions
• Financing a business
• Managing working capital
• Competitive environment
• Accounting for control
• Budgetary control
• Responsibility accounting
• Accounting principles
• Lecture Accounting principles
• Nguyên lý kế toán
• Accounting information systems
• Hệ thống thông tin kế toán
• Lecture Accounting information systems
• Internal control
• Control environment
• Principles of accounting
• Accounting information
• Lecture Principles of Accounting
• Internal control structure
• Bank account
• Internal control activities
• Control activities
• Lecture International accounting
• International accounting
• Internal control and cash
• The components of internal control
• Control device
• Financial and accounting internal control
• Internal control assessment result based on COSO
• Social sciences
• Accounting internal operation control
• Faculty of humanities
• Accounting in practice
• Lecture Accounting in practice
• Control account and reconciliation
• Reconcile the receivable control account
• Reconcile the payable control account
• Reconcile the cash book
• Managerial Accounting
• Lecture Managerial Accounting
• Kế toán quản trị
• Static budget reports
• Lecture Advanced management accounting
• Bài giảng Kế toán quản trị nâng cao
• Advanced management accounting
• Behavioural aspect of control
• Proper control strategy
• Management control
• Survey of accounting
• Lecture Survey of accounting
• Accounting for cash
• Accounting cycle
• Financial resources
• Accounting provides information
• Planning for profit
• Cost control
• Lecture Accounting
• Financial accounting
• Cost analysis for control
• Lecture Financial accounting
• Business decision
• Kế toán tài chính
• Financial and managerial accounting
• Control frameworks
• Accounting information systems
• Lecture Accounting information systems
• Internal controls
• COBIT framework
• Explain the development
• Accounting for receivables
• Analyzing receivables
• Accounts receivable