TAILIEUCHUNG - Lecture Accounting: What the numbers mean (5/e) - Chapter 14: Cost analysis for planning

After reading this chapter, you should be able to answer the following questions: What is the cost terminology that relates to the budgeting process? Why are budgets useful, and how does management philosophy influence the budget process? How are alternative budget time frames used?. | CHAPTER 14 COST ANALYSIS FOR PLANNING McGraw-Hill/Irwin ©The McGraw-Hill Companies, Inc., 2002 Learning Objectives What is the cost terminology that relates to the budgeting process? Why are budgets useful, and how does management philosophy influence the budget process? How are alternative budget time frames used? What is the significance of the sales forecast (or revenue budget) to the overall operating budget? McGraw-Hill/Irwin ©The McGraw-Hill Companies, Inc., 2002 Learning Objectives How is the purchases/production budget developed? What is the importance of cost behavior patterns in developing the operating expense budget? Why are a budgeted income statement and balance sheet prepared? How is the cash budget developed? McGraw-Hill/Irwin ©The McGraw-Hill Companies, Inc., 2002 Learning Objectives Why and how are standards useful in the planning and control process? How is the standard cost of a product developed? How are standard costs used in the cost accounting system? McGraw-Hill/Irwin ©The McGraw-Hill Companies, Inc., 2002 Learning Objective 1 What is the cost terminology that relates to the budgeting process? McGraw-Hill/Irwin ©The McGraw-Hill Companies, Inc., 2002 Planning and Budgeting Planning is the initial part of the planning and control cycle A budget is a plan in financial terms The results of an organization’s activities will be reported in terms of income, cash flow, and financial position – the financial statements McGraw-Hill/Irwin ©The McGraw-Hill Companies, Inc., 2002 Strategic, Operational, and Financial Planning Planning and Control Cycle Performance Analysis: Plans vs. Actual Results (Controlling) Executing Operational Activities (Managing) Revisit Plans Implement Plans Data Collection and Performance Feedback McGraw-Hill/Irwin ©The McGraw-Hill Companies, Inc., 2002 Usefulness of Budgets The preparation of a budget forces management to plan The budget provides a benchmark against which to compare actual performance The budgeting process .

• Kế toán - Kiểm toán
• Lecture Accounting
• Cost analysis
• What the numbers mean
• Standard costs
• Cost analysis for planning
• Cost analysis
• Financial accounting
• Lecture Financial accounting
• Accounting information
• Management accounting
• Accounting standards
• Accounting equation
• Intermediate accounting
• Lecture Intermediate accounting
• Accounting process
• Accounting processing cycle
• Managerial accounting
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Merchandising operations
• Lecture Accounting 1
• Accounting for main transactions
• Accounting for purchases
• Accounting for sales
• Accounting for expenses
• Principle of accounting
• Lecture Principle of accounting
• The basic accounting equation
• Transaction analysis in accounting equation
• Calculate the accounting equation
• Lecture Advanced financial accounting
• Bài giảng Kế toán tài chính nâng cao
• Advanced financial accounting
• Accounting policies
• Accounting estimate
• Retrospective application
• Changes in accounting estimates
• Retrospective restatements
• Accounting assumptions
• Lecture Management accounting
• Bài giảng Kế toán quản trị
• Nature of management accounting
• Component of accounting system
• Financial system
• Lecture Accounting and financial system
• Ledger accounting
• Trial balance
• Completing the accounting cycle
• Accounting cycle
• Accounting worksheet
• Classified balance sheet
• Accounting changes
• Error corrections
• Accounting choices
• Accounting for business
• Lecture Accounting for business
• Accounting entity
• Classification of assets
• Accounting equation transactions