TAILIEUCHUNG - Lecture Accounting: What the numbers mean (10/e): Chapter 15 - Marshall, McManus, Viele

Chapter 15 - Cost control. After reading this chapter, you should be able to answer the following questions: Why are all costs controllable by someone at some time, but in the short run some costs may be classified as noncontrollable? How does performance reporting facilitate the management-by-exception process? How can the operating results of segments of an organization be reported most meaningfully? . | 2008 The McGraw Hill Companies Inc. All Rights Reserved. 1 McGraw Hill Irwin Copyright 2014 by The McGraw Hill Companies Inc. All rights reserved. Chapter 15 Cost Control PowerPoint Authors Susan Coomer Galbreath . CPA Charles W. Caldwell . CMA Jon A. Booker . CPA CIA Cynthia J. Rooney . CPA McGraw Hill Irwin Copyright 2014 by The McGraw Hill Companies Inc. All rights reserved. 1-3 LO 2 Performance Report Characteristics Budget Actual Activity Amount Amount Variance Explanation Favorable Favorable Actual Actual revenues revenues gt gt Budgeted Budgeted revenues revenues Actual Actual costs costs Budgeted Budgeted costs costs McGraw Hill Irwin 15 3 2008 The McGraw Hill Companies Inc. All Rights Reserved. 1-4 LO 2 Performance Report Characteristics Responsibility Responsibility Reporting Reporting Amount Amount of of detail detail varies varies according according to to level level in in the the organization. organization. Management by exception Upper-level management does not receive operating detail unless activities are not performing according to plan. The vice president of operations receives summarized information from each store. 2008 The McGraw Hill Companies Inc. All Rights Reserved. McGraw Hill Irwin 15 4 1-5 LO 3 The Flexible Budget Show revenues and expenses that should have occurred at the actual activity. May be prepared for any activity level within the relevant range. Reveal variances due to effective cost control or lack of cost control. Improve performance evaluation. McGraw Hill Irwin 15 5 2008 The McGraw Hill Companies Inc. All Rights Reserved. 1-6 LO 3 The Flexible Budget To a budget for different activity levels we must know how costs behave with changes in activity levels. Total variable costs change in direct proportion to changes in activity. le i ab r Total fixed costs Va remain unchanged Fixed within the relevant range. McGraw Hill Irwin 15 6 2008 The McGraw Hill Companies Inc. All Rights Reserved. 1-7 LO 4 Standard Cost

• Kế toán - Kiểm toán
• Lecture Accounting
• Financial accounting
• Managerial accounting
• Accounting information
• Cost control
• Cost analysis for control
• Lecture Financial accounting
• Management accounting
• Accounting standards
• Accounting equation
• Intermediate accounting
• Lecture Intermediate accounting
• Accounting process
• Accounting processing cycle
• 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