TAILIEUCHUNG - Lecture Managerial accounting: Creating value in a dynamic business environment (9/e): Chapter 2 - Ronald W. Hilton

Chapter 2 - Basic cost management concepts and accounting for mass customization operations. After completing this chapter, you should be able to: Explain what is meant by the word cost; distinguish among product costs, period costs, and expenses; describe the role of costs in published financial statements. | Basic Cost Management Concepts and Accounting for Mass Customization Operations Chapter 2 Process of Management Decision Making Directing Control Planning Strategy Formulation Managers need cost information to perform each of these functions. Learning Objective 01 Leaning Objective 1 Product Costs, Period Costs and Expenses Product costs are costs associated with goods for sale until the time period during which the products are sold, at which time the costs become expenses. Period costs are costs that are expensed during the time period in which they are incurred. Expenses are the consumption of assets for the purpose of generating revenue. Learning Objective 2 Merchandiser Current Assets Cash Receivables Prepaid Expenses Merchandise Inventory Manufacturer Current Assets Cash Receivables Prepaid Expenses Inventories Raw Materials Work in Process Finished Goods Cost Classifications on Financial Statements – Balance Sheet Leaning Objective 3 Product costs appear on the income statement

• Kế toán - Kiểm toán
• Managerial accounting
• Lecture Managerial accounting
• Kế toán quản trị
• Financial accounting
• Dynamic business environment
• Cost management
• Managerial accounting for managers
• Profitability analysis
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Managerial accounting information
• General cost classifi cations
• Product costs
• Process costing
• Standard costing systems
• Accounting information
• Managerial decision
• Process management
• Financial statement
• Cost concepts
• Managerial accounting basics
• Managerial cost
• Period costs
• Lecture Financial and managerial accounting
• Financial statements
• Managerial decisions
• Reporting manufacturing activities
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Relevant costing
• Accounting activities
• Business activities
• Income statement
• Accounting cycle
• Accounting for merchandising operations
• Merchandising operations
• Capital budgeting decisions
• Time value of money
• Income taxes
• After tax cost