TAILIEUCHUNG - Lecture Managerial accounting: Creating value in a dynamic business environment (10th edition): Chapter 2 - Ronald W. Hilton, David E. Platt

Chapter 2 - Basic cost management concepts. 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 Chapter 2 Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Chapter 2: Basic Cost Management Concepts and Accounting for Mass Customization Operations What Do We Mean By a Cost? A cost is the measure of resources given up to achieve a particular purpose. 2- At the most basic level, a cost may be defined as the sacrifice made, usually measured by the resources given up, to achieve a particular purpose. (LO1) 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. 2- A product cost is a cost assigned to goods that were either purchased or .

• Kế toán - Kiểm toán
• Managerial accounting
• Kế toán quản trị
• Dynamic business environment
• Cost management
• Product costs
• Manufacturing costs
• Managerial accounting for managers
• Lecture Managerial accounting
• Profitability analysis
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Managerial accounting information
• General cost classifi cations
• 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
• Financial accounting
• 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