TAILIEUCHUNG - Lecture Principles of accounting (2005): Chapter 20 - Needles, Powers, Crosson

Chapter 20 - Cost concepts and cost allocation. Chapter 20 introduces various approaches managers use to classify costs and the concept of product costing and discusses the basic terminology used in accounting for internal operations. The reporting of manufacturing costs is highlighted and illustrated. | Cost Concepts and Cost Allocation Multimedia Slides by: Gail A. Mestas, MAcc, New Mexico State University Chapter 20 Learning Objectives Describe how managers use information about costs in the management cycle. Explain how managers classify costs and how they use these cost classifications. Define and give examples of the three elements of product cost and compute the unit cost of a product. Learning Objectives (cont’d) Describe the flow of costs through a manufacturer's inventory accounts. Compare how service, retail, and manufacturing organizations report costs on their financial statements and how they account for inventories. Define cost allocation and explain how cost objects, cost pools, and cost drivers are used to assign manufacturing overhead costs. Learning Objectives (cont’d) Using the traditional method of allocating manufacturing overhead costs, calculate product unit cost. Using activity-based costing to assign manufacturing overhead costs, calculate product unit cost.

• Kế toán - Kiểm toán
• Principles of accounting
• Lecture Principles of accounting
• Nguyên lý kế toán
• Accounting information
• Cost allocation
• Product costing
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Financial accounting
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Merchandising operations
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting