TAILIEUCHUNG - Lecture Introduction to Accounting: An integrated approach: Chapter 3 - Penne Ainsworth, Dan Deines

Chapter 3 - Operating processes: Planning and control. In this chapter students will be able to: Identify the activities in the three operating subprocesses; describe fixed, variable, and mixed costs and revenues; use the high/low method to determine fixed and variable costs and revenues; apply linear regression analysis to determine fixed and variable costs and revenues. | Chapter 3 Operating Processes: Planning and Control Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 3- What are the Goals of the Revenue Process? Provide customers with products/services they want at a price they are willing to pay Receive payment from customers in a timely manner Provide customer support before and after the sale to ensure future sales 3- What are the 5 Primary Activities in the Revenue Process? Determine marketing and distribution channels Receive and accept orders Deliver goods/services FOB shipping versus FOB destination Receive payment from customers Sales discounts Provide customer support Sales returns and allowances 3- What are the Goals of the Expenditure Process? Receive the highest quality goods/services at the lowest cost when needed Pay for goods/services in a timely manner Develop good relationships with suppliers of goods/services 3- What are the 4 Primary Activities in the Expenditure Process? Determine the need for goods/services Select suppliers and order goods/services Receive the goods Purchase returns and allowances Pay for goods/services Purchase discounts 3- What are the Goals of the Conversion Process? Manufacture the highest quality products Utilize labor and other manufacturing resources in an efficient and effective manner 3- What are the 4 Primary Activities in the Conversion Process? Schedule production Obtain raw materials Use labor and other manufacturing resources Manufacturing overhead Store finished goods until sold 3- What are the Basic Concepts in Determining Cost/Revenue Behavior? Behavior pattern Relationship between X (activity) and Y (cost or revenue) Relevant range Normal range of activity Activity driver Activity that is assumed to cause changes in revenues or costs 3- What is a Fixed Cost or Revenue? Constant in total over the relevant range Changes per “unit” of activity over the relevant range Activity $ 3- What is a Variable

• Kế toán - Kiểm toán
• Introduction to Accounting
• Business operating activities
• Lecture Introduction to Accounting
• Capital resource process
• Operating processes
• Conversion process
• Accounting information systems
• Accounting events
• Financial accounting
• Lecture Financial accounting
• Accounting information
• Management accounting
• Accounting standards
• Accounting equation
• Lecture Introduction to financial accounting
• Financial statements
• Business activities
• Financing activities
• Investing activities
• Business processes
• Lecture Introduction to cost accounting
• Introduction to cost accounting
• Traditional method
• Activity based costing
• Managerial accounting issues
• Accounting method
• Cash basis method
• Accrual method
• Survey of accounting
• Lecture Survey of accounting
• Accounting for cash
• Accounting cycle
• Managerial accounting
• Product costing
• Financial resources
• Accounting provides information
• Lecture Accounting 1
• The Accounting equation
• Short term decision making
• Cost volume profit model
• Strategic planning
• Balanced scorecard
• Costs of budgeting
• Human resources
• Payment process
• Evaluating conversion process activities
• Customer support process
• Revenue process
• Time value of money
• Planning investments
• Capital budgeting
• Planning equity financing
• Financial risk