TAILIEUCHUNG - Lecture Survey of Accounting (First edition): Chapter 10 – Kimmel, Weygandt

Chapter 10 – Managerial accounting. The main goals of this chapter are to: Identify the features of managerial accounting and the functions of management, describe the classes of manufacturing costs and the differences between product and period costs, demonstrate how to compute cost of goods manufactured and prepare financial statements for a manufacturer, discuss trends in managerial accounting. | Managerial Accounting 10 WILEY Kimmel ● Weygandt Survey of Accounting, First Edition Describe the classes of manufacturing costs and the differences between product and period costs. CHAPTER OUTLINE Identify the features of managerial accounting and the functions of management. 1 2 LEARNING OBJECTIVES Demonstrate how to compute cost of goods manufactured and prepare financial statements for a manufacturer. 3 Discuss trends in managerial accounting. 4 Managerial accounting provides economic and financial information for managers and other internal users. LO 1 LEARNING OBJECTIVE Identify the features of managerial accounting and the functions of management. 1 COMPARING MANAGERIAL AND FINANCIAL ACCOUNTING ILLUSTRATION 10-1 Differences between financial and managerial accounting LO 1 Planning Maximize short-term profit and market share. Commit to environmental protection and social programs. Add value to the business. Directing Controlling Coordinate diverse activities and human resources. Implement planned objectives. Provide incentives to motivate employees Hire and train employees. Produce a smooth-running operation. Keeping activities on track. Determine whether goals are met. Decide changes needed to get back on track. May use an informal or formal system of evaluations. MANAGEMENT FUNCTIONS LO 1 LO 1 Organization charts show the interrelationships of activities and the delegation of authority and responsibility within the company. ILLUSTRATION 10-2 A typical corporate organization chart LO 1 Indicate whether the following statements are true or false. Managerial accountants have a single role within an organization, collecting and reporting costs to management. Financial accounting reports are general-purpose and intended for external users. Managerial accounting reports are special-purpose and issued as frequently as needed. False True True LO 1 DO IT! Managerial Accounting Overview 1 False False Managers’ activities and responsibilities can be classified into .

• Kế toán - Kiểm toán
• Survey of Accounting
• Lecture Survey of Accounting
• Financial statements
• Managerial accounting
• Financial accounting
• Manufacturing costs
• Accounting for cash
• Accounting cycle
• Financial resources
• Accounting provides information
• Internal controls
• Accounting profession
• Accounting for receivables
• Inventory cost flow
• Accounting for liabilities
• Bonds issued
• Product costing
• Ledger accounts
• Merchandising businesses
• Transportation costs
• Long term operational assets
• Depreciation method