TAILIEUCHUNG - Lecture Managerial accounting: Creating value in a dynamic business environment (9/e): Chapter 3 - Ronald W. Hilton

Chapter 3 - Product costing and cost accumulation in a batch production environment. After completing this chapter, you should be able to: Discuss the role of product and service costing in manufacturing and nonmanufacturing firms, diagram and explain the flow of costs through the manufacturing accounts used in product costing, distinguish between job-order costing and process costing,. | Product Costing and Cost Accumulation in a Batch Production Environment Chapter 3 Product and Service Costing Financial Accounting Product costs are used to value inventory and to compute cost of goods sold. Managerial Accounting and Cost Management Product costs are used for planning, control, directing, and management decision making. Our focus changes from financial statement costs to operations Learning Objective 1 Our focus changes from financial statement costs to operations: Financial Accounting – Products costs are used to value inventory and to compute cost of goods sold. Managerial Accounting and Cost Management – Product costs are used for planning, control, directing and management decision making. Flow of Costs in Manufacturing Firm Learning Objective 2 Manufacturing costs consist of direct material, direct labor, and manufacturing overhead. As production takes place, all manufacturing costs are added to the Work-in-Process Inventory account with a debit. As soon as .

• Kế toán - Kiểm toán
• Managerial accounting
• Lecture Managerial accounting
• Kế toán quản trị
• Financial accounting
• Dynamic business environment
• Product costing
• 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