TAILIEUCHUNG - Lecture Accounting: Tools for business decision making (5th edition): Chapter 22 - Kimmel, Weygandt, Kieso

Chapter 22 - Budgetary control and responsibility accounting. After reading the material in this chapter, you should be able to: Describe budgetary control and static budget reports, prepare flexible budget reports, apply responsibility accounting to cost and profit centers,. | BUDGETARY CONTROL AND RESPONSIBILITY ACCOUNTING Accounting, Fifth Edition 22 After studying this chapter, you should be able to: Describe the concept of budgetary control. Evaluate the usefulness of static budget reports. Explain the development of flexible budgets and the usefulness of flexible budget reports. Describe the concept of responsibility accounting. Indicate the features of responsibility reports for cost centers. Identify the content of responsibility reports for profit centers. Explain the basis and formula used in evaluating performance in investment centers. Learning Objectives Preview of Chapter 22 Accounting Fifth Edition Kimmel Weygandt Kieso The use of budgets in controlling operations is known as budgetary control. Takes place by means of budget reports which compare actual results with planned objectives. Provides management with feedback on operations. Budget reports can be prepared as frequently as needed. Analyze differences between actual and planned results and determines causes. LO 1 Describe the concept of budgetary control. Budgetary Control Budgetary control involves the following activities. Illustration 22-1 LO 1 Describe the concept of budgetary control. Budgetary Control Works best when a company has a formalized reporting system which: Identifies the name of the budget report. States the frequency of the report. Specifies the purpose of the report. Indicates recipient(s) of the report. LO 1 Describe the concept of budgetary control. Budgetary Control Partial budgetary control system for manufacturing company. Illustration 22-2 LO 1 Describe the concept of budgetary control. Budgetary Control Budgetary control involves all but one of the following: Modifying future plans. Analyzing differences. Using static budgets. Determining differences between actual and planned results. LO 1 Describe the concept of budgetary control. Review Question Budgetary Control Static budget is a projection of budget data at one level of activity. When

• Kế toán - Kiểm toán
• Budgetary control
• Responsibility accounting
• Financial Statements
• Making business decision
• Business decision tool
• Lecture Accounting
• Accounting principles
• Lecture Accounting principles
• Nguyên lý kế toán
• Managerial accounting
• Budgetary planning
• Business decision marking
• Capital investments
• Static budget reports
• Explain the development
• Lecture Managerial Accounting
• Kế toán quản trị
• Capital budgeting
• Decentralized performance evaluation
• Principles of accounting
• Financial statement analysis
• Accounting for partnerships
• Job order costing
• Process costing
• Balanced scorecard
• Lecture Management
• Managerial environment
• Quality control
• Organizational control
• Feedforward control
• Financial analysis
• Public sector accounting
• Content of budgets
• Financial reporting
• External auditing
• Internal control
• Budget auditing
• Flexible budget reports
• Statement of cash flows
• Accounting for managers
• Strategic investment decisions
• Performance evaluation
• Business units
• Introduction to the readings
• Management accounting
• Standard costing
• Divisional performance evaluation
• Transfer pricing system
• Business organization
• Accounting information
• Financial and managerial accounting
• Financial accounting
• Control device
• Benefits of budgeting
• Budget reports
• Construction risk
• Risk management
• International construction
• Risk measurement
• Schedule management
• Certificate in business management
• Ebook Certificate in business management
• Limited companies
• Cash flow statements
• Interpretation of accounts