What is a management accounting information system?
The management accounting information system is an information system that produces outputs using inputs and processes needed to satisfy specific management objectives.
What are the three objectives of a management accounting information system?
1.To provide information for costing out services, products, and other objects of interest to
management.
2.To provide information for planning, controlling, evaluation, and continuous improvement.
3.To provide information for decision making.
The management process:
1. planning
2. controlling
3. decision making.
Decision making The process of choosing among competing alternatives is decision making. What is the industrial value chain? Why is it important?
The industrial value chain is the linked set of value-creating activities from basic raw materials to the disposal of the final product by end-use customers.
Cost is the cash or cash-equivalent value sacrificed for goods and services that is expected to bring a current or future benefit to the organization.
Opportunity cost is the benefit given up or sacrificed when one alternative is chosen over another. What is a cost object? Give some examples.
Management accounting systems are structured to measured and assign costs to entities, called cost objects.
What is a direct cost? An indirect cost?
Direct costs are those costs that can be easily and accurately traced to a cost object.
Indirect costs are costs that cannot be easily and accurately traced to a cost object.
What is allocation?
Assignment of indirect costs to cost objects is called allocation.
Overhead All production costs other than direct materials and direct labor are lumped into one category called overhead.
Cost behavior is the general term for describing whether costs change as output changes.
Fixed costs A cost that stays the same as output changes is a fixed cost.
A variable cost is a cost that, in total, varies in direct proportion to changes in output.
A mixed cost is a cost that has both a fixed and variable component.
What is the relationship between flexible resources and cost behavior?
Flexible resources are supplied as used and needed; they are acquired from outside sources, where the terms of acquisition do not require any long-term commitment for any given amount of the resources.
What is the relationship between committed resources and cost behavior?
Committed resources are resources that are supplied in advance of usage; they are acquired by the use of either an explicit or implicit contract to obtain a given quantity of resources, regardless of whether the amount of the resource available is fully used or not.
Explain why knowing the unit cost of a product or service is important?
The unit cost is the total cost associated with the units produced divided by the number of units produced.
What is cost measurement? Cost assignment? What is the difference between the two?
Cost measurement consists of determining the dollar amounts of direct materials, direct labor, and overhead used in production.
The process of associating the costs, once measured, with the units produced is called cost assignment.
Actual costing assigns the actual costs of direct materials, direct labor, and overhead to products. Normal costing assigns the actual costs of direct materials and direct labor to products; however, overhead costs are assigned to products using predetermined rates.
Define the term budget. How are budgets used in planning?
Budgets are financial plans for the future; they identify objectives and the actions needed to achieve them.
Discuss some of the reasons for budgeting.
Advantages of budgeting:
1.It forced managers to plan.
2.It provides information that can be used to improve decision making.
3.It provides a standard for performance evaluation.
4.It improves communication and coordination.
Define control. How are budgets used to control?
Control is achieved by comparing actual results with budgeted results on a periodic basis
(for example, monthly). Steps should be taken to find out why, and then to correct the situation. What is a master budget? An operating budget? A financial budget?
A master budget can be divided into operating and financial budget. Operating budgets describe the income-generating activities of a firm: sales, production, and finished goods inventories. Financial budgets detail the inflows and outflows of cash and the overall financial position. Operating budget following supporting schedules:
1.sales budget
2.production budget
3.direct materials purchases budget
4.direct labor budget
5.overhead budget
6.selling and administrative expenses budget
7.ending finished goods inventory budget
8.cost of goods sold budget
Production budget The production budget describes how many units must be produced in order to meet sales needs and satisfy ending inventory requirements.
The usual financial budgets prepared are:
1.The cash budget
2.The budgeted balance sheet
3.The budget for capital expenditures
Flexible budgets The budget that enables a firm to compute expected costs for a range of activity levels is called a flexible budget.
Static budgets
The master budget developed for Texas Rex is an example of a static budget.
A static budget is a budget for a particular level of activity.
Cost-volume-profit analysis (CVP analysis) is a powerful tool for planning and decision making. The break-even point is the point where total revenue equals total cost, the point of zero profit. Operating income includes only revenues and expenses from the firm’s normal operations. We will use the term net income to mean operating income minus income taxes.
The contribution margin is sales revenue minus total variable cost.
The margin of safety is the units sold or expected to be sold or the revenue earned or expected to be earned above the break-even volume.
Operating leverage is the use of fixed costs to extract higher percentage changes in profits as sales activity changes.
Degree of operating leverage (DOL):
Degree of operating leverage = Contribution margin/Profit
What is the difference between tactical and strategic decisions?
Tactical decision making consists of choosing among alternatives with an immediate or limited end in view. The overall objective of strategic decision making is to select among alternative strategies so that a long-term competitive advantage is established.
The markup is a percentage applied to the base cost; it includes desired profit and any costs not included in the base cost.
Target costing is a method of determining the cost of a product or service based on the price (target price) that customers are willing to pay.
Predatory pricing The practice of setting prices below cost for the purpose of injuring competitors and eliminating competition is called predatory pricing.
Price discrimination refers to the charging of different prices to different customers for essentially the same product.
Capital investment decisions are concerned with the process of planning, setting goals and priorities, arranging financing, and using certain criteria to select long-term assets.
Explain the difference between independent projects and mutually exclusive projects. Independent projects are projects that, if accepted or rejected, do not affect the cash flows of other projects.
Mutually exclusive projects are those projects that, if accepted, preclude the acceptance of all other competing projects.
The payback period is the time required for a firm to recover its original investment.
The accounting rate of return measures the return on a project in terms of income, as opposed to using a project’s cash flow.
Two discounting models will be considered:net present value (NPV) and internal rate of return (IRR)
The internal rate of return is defined as the interest rate that sets the present value of a project’s cash inflows equal to the present value of the project’s cost.
Chapter 11 Lecture Notes Chapter theme: Managers in large organizations have to Array delegate some decisions to those who are at lower levels in the organization. This chapter explains how responsibility accounting systems, return on investment (ROI), residual income, operating performance measures, and the balanced scorecard are used to help control decentralized organizations. I.Decentralization in organizations A. A decentralized organization does not confine decision-making authority to a few top executives; rather, decision-making authority is spread throughout the organization. The advantages and disadvantages of decentralization are as follows: i.Advantages of decentralization 1.It enables top management to concentrate on strategy, higher-level decision making, and coordinating activities. 2.It acknowledges that lower-level managers have more detailed information about local conditions that enable them to make better operational decisions. 3.It enables lower-level managers to quickly respond to customers. 4.It provides lower-level managers with the decision-making experience they will need when promoted to higher level positions.
Chapter 12 Lecture Notes Chapter theme: Making decisions is one of the basic functions of a manager. To be successful in decision making, managers must be able to perform differential analysis, which focuses on identifying the costs and benefits that differ between alternatives. The purpose of this chapter is to develop these skills by illustrating their use in a wide range of decision-making situations. Learning Objective 1: Identify relevant and irrelevant costs and benefits in a decision. I. Decision making: six key concepts A. Key concept #1 i. Every decision involves choosing from among at least two alternatives. Therefore, the first step in decision-making is to define the alternatives being considered . B. Key concept #2 i. Once you have defined the alternatives, you need to identify the criteria for choosing among them. 1. Relevant costs and relevant benefits should be considered when making decisions. 2. Irrelevant costs and irrelevant benefits should be ignored when making decisions.
Syllabus for undergraduate of OUC Course name：Management Accounting Course time：48/3 Course teacher：Cheng Liubing 1.Course Overview The course starts by introducing the nature, the source and purpose of cost accounting and the costing techniques used in business which are essential for any management accountant. The course then looks at the preparation and use of budgeting and standard costing and variance analysis as essential tools for planning and controlling business costs. The course concludes with an introduction to measuring and monitoring the performance of an organization. 2.Student Learning Outcomes To develop knowledge and understanding of management accounting techniques to support management in planning, controlling and monitoring performance in a variety of business context. 3.Course Expectations On successful completion of this paper, candidates should be able to: A Explain the nature, source and purpose of management information B Explain and apply cost accounting techniques C Prepare budgets for planning and control - 2 -
1. Which of the following costs would be considered a period rather than a product cost in a manufacturing company A. Manufacturing equipment depreciation. B. Property taxes on corporate headquarters. C. Direct materials costs. D. Electrical costs to light the production facility. E. Sales commissions. 2. If your inventory balance at the beginning of the month was $1,000, you bought $100 during the month, and sold $300 during the month, what would be the balance at the end of the month A. $1,000. B. $ 800. C. $1,200. D. $ 200. 3. Beginning raw materials inventory was $32,000. During the month, $276,000 of raw material was purchased. A count at the end of the month revealed that $28,000 of raw material was still present. What is the cost of direct material used A. $276,000 B. $272,000 C. $280,000 D. $ 2,000 4.Direct materials used in production totaled $280,000. Direct labor was $375,000 and factory overhead was $180,000. What were total manufacturing costs incurred for the month A. $555,000 B. $835,000 C. $655,000 D. Cannot be determined. 5. Beginning work in process was $125,000. Manufacturing costs incurred for the month were $835,000. There were $200,000 of partially finished goods remaining in work in process inventory at the end of the month. What was the cost of goods manufactured during the month A. $1,160,000 B. $ 910,000 C. $ 760,000 D. Cannot be determined. 6.Beginning finished goods inventory was $130,000. The cost of goods manufactured for the month was $760,000. And the ending finished goods inventory was $150,000. What was the cost of goods sold for the month A. $ 20,000. B. $740,000. C. $780,000. D. $760,000. 7. Which of the following costs would be variable with respect to the number of cones sold at a Baskins & Robbins shop (There may be more than one correct answer.) A. The cost of lighting the store.
CHAPTER 4 COVERAGE OF LEARNING OBJECTIVES
CHAPTER 4 Cost Management Systems and Activity-Based Costing 4-A1 (20-30 min.) See Table 4-A1 on the following page. 4-A2 (25-30 min.) 1. Merchandise Inventories, 1,000 devices @ $97 $97,000 2. Direct materials inventory $ 40,000 Work-in-process inventory 0 Finished goods inventory 97,000 Total inventories $137,000 3. NILE ELECTRONICS PRODUCTS Statement of Operating Income For the Year Ended December 31, 20X9 Sales (9,000 units at $170) $1,530,000 Cost of goods sold: Beginning inventory $ 0 Purchases 970,000 Cost of goods available for sale $ 970,000 Less ending inventory 97,000 Cost of goods sold (an expense) 873,000
Gross margin or gross profit $ 657,000 Less other expenses: selling & administrative costs 185,000 Operating income (also income before taxes in this example) $ 472,000
管理会计专业术语词汇大全(英文版)
changes. Batch-level activities Activities that are performed each time a batch is produced. Benchmarking An approach that uses best practices as the standard for evaluating activity performance. Best-fitting line The line that fits a set of data points the best in the sense that the sum of the squared deviations of the data points from the line is the smallest. Binding constraints Constraints whose resources are fully utilized. Break-even point The point where total sales revenue equals total costs; the point of zero profits. Activity output The result or product of an activity. Activity output measure The number of times an activity is performed. It is the quantifiable measure of the output. Activity reduction Decreasing the time and resources required by an activity. Activity selection The process of choosing among sets of activities caused by competing strategies. Activity sharing Increasing the efficiency of necessary activities by using economies of scale. Activity volume variance The cost of the actual activity capacity acquired and the capacity that should be used. Activity-based cost (ABC) system A cost system that first traces costs to activities and then traces costs from activities to products. Activity-based costing (ABC) A cost assignment approach that first uses direct and driver tracing to assign costs to activities and then uses drivers to assign costs to cost objects. Activity-based management (ABM) A systemwide, integrated approach that
管理会计（高等教育出版社） 于增彪（清华大学）改编 余绪缨（厦门大学）审校 CHAPTER 17 TACTICAL DECISION MAKING QUESTIONS FOR WRITING AND DISCUSSION 1. A tactical decision is short-run in nature; it involves choosing among alternatives with an immediate or limited end in view. A stra-tegic decision involves selecting strategies that yield a long-term competitive advantage. 2.Depreciation is an allocation of a sunk cost. This cost is a past cost and will never differ across alternatives. 3.The salary of a supervisor in an accept or reject decision is an example of an irrelevant future cost. 4.If one alternative is to be judged superior to another alternative on the basis of cash-flow comparisons, then cash flows must be ex-pressed as an annual amount (or periodic amount); otherwise, consideration must be given to the time value of the nonperiodic cash flows. 5.Disagree. Qualitative factors also have an important bearing on the decision and may, at times, overrule the quantitative evidence from a relevant costing analysis. 6.The purchase of equipment needed to pro- duce a special order is an example of a fixed cost that is relevant. 7.Relevant costs are those costs that differ across alternatives. Differential costs are the differences between the costs of two alterna-tives. 8.Depreciation is a relevant cost whenever it is a future cost that differs across alternatives. Thus, it must involve a capital asset not yet acquired. 9.Past costs can be used as information to help predict future costs. 10.Yes. Suppose, for example, that sufficient materials are on hand for producing a part for two years. After two years, the part will be replaced by a newly engineered part. If there is no alternative use of the materials, then the cost of the materials is a sunk cost and not relevant in a make-or-buy decision.
The definition of accounting: Management accounting is that companies to strengthen internal management and the realize of the aim of maximum profit in western , using various methods, collecting, processing and manage authorities’plan reasonably and information needed to control the economic process effectively , around three centers: cost, profit and capital, analysis the thing in the past, a branch of accounting that plan for the future. The brief history of development of Management accounting: (1) The era of the efficiency of the management accounting (the beginning of the 20th century to the '50 s) (2)The era of benefit of management accounting (the 80 s and 1950 s), (3)The era of management accounting’s reflection (1980 s), (4)The era of management accounting”s transition (1990 s) The functions of managers: (1) Planning, planning is that managers identify and select appropriate goals and put into effect. (2) The functions of organization, the organization is a process that managers to build a framework of a working relationship so as to enable
管理会计中的英文字母含义《管理会计》是会计专业一门相当重要的课程，书中有许多英文字母的缩写（特别在各种各样的公式中），它们其实并不是编者随意指定的，而是有着其内在的含义。了解它们的含义不仅有助于对书中内容的理解，还能增强对内容的记忆，不至于在考试中引起混淆。下面笔者就这些字母作了一些注解，希望能给大家的学习带来帮助。 注：这些字母基本上都取自指示该意的单词或词组的中心词的第一个字母。 1、利息I interest（n.兴趣，关心，重要性，影响，利息，[常pl.]利益，利害） 2、现值P present value（adj.现在的，出席的，当面的） 3、终值F final value（adj.最后的，最终的，决定性的） 4、天数、期数N number（n.数，数字，数量，号码，算术，诗，韵律、v.遍号码，共计……，计入，计算，算入） 5、年金A annuity（n.年金，养老金，年金享受权） 6、概率P probability（n.可能性，或然性，概率） 7、期望值E expectation（n.期待，预料，指望，展望， [数]期望（值）） 8、变动资产A asset（n.资产，有用的东西） 9、变动负债B debt（n.债务，罪过）
10、销售额S sale（n.出售，卖出，贱卖，廉价出售，销路，销售额） 11、销售净利润P profit（n.利润，益处，得益） 12、收益留存比率E earning （n.所赚的钱，收入） 13、香港上市的股票H股/纽约上市的股票N股] Hongkong （香港）、New York （纽约） 14、现金折扣CD 其中的C是指：cash（n.现金）、其中的D是指：discount （n.折扣） 15、债券成本的计算公式 其中的K是指：key（n.钥匙，关键，解答，要害等）、其中的b是指：bond（n.结合（物），粘结（剂），联结，公债，债券，合同）、其中的T是指：tax（n.税，税款，税金）、其中的f是指：fee（n.费（会费、学费、手续费等），酬金）、其中的i是指利息，注解同第1条 16、银行借款成本的计算公式 其中的L是指：lend（v.借给，贷（款））、其它字母的注解同上文所指 17、优先股成本的计算公式 其中的D是指：dividend （n.被除数，股息，红利，额外津贴，奖金，年息）、其中的P是指：preferred stock（n.<美>优先股）。普通股成本的计算公式中V是指value（n.价值，估价，评价，价格，[数]值，确切涵义、vt.估价，评价，重视）、其中的s是指：stock（n.股票，股份，托盘，祖先，血统，原料）、其中的g是指：gain（n.财物的增加，财富的获取，利润，腰槽，收获、vt.得到，增进，赚到，开腰槽于、vi.获利，增加）、其它字母的注解同上文所指 18、边际贡献及其计算
Chapter 1 Notes The three main categories of business organizations are (1) sole proprietorships, (2) partnerships, and (3) corporations. A sole proprietorship is a business that has one owner. That person is both the owner and the manager of the business. An advantage of a sole proprietorship is that the owner makes all the decisions for the business. A disadvantage is that if the business cannot pay its obligations, the business owner must pay them, which means that the owner could lose some of his or her personal assets. A partnership is a form of business ownership that has at least two owners (partners). Each partner acts as an owner of the company, which is an advantage because the partners can share the decision making and the risks of the business. A disadvantage is that, as in a sole proprietorship, the partners’ personal assets could be lost if the partnership cannot meet its obligations. A corporation, such as Best Buy, is a business owned by stockholders. The corporation may have only a few stockholders, or it may have many stockholders. The stockholders are not personally liable for the corporation’s debts, and they usually do not have input into the business decisions. Types and characteristics of business organizations. The sole proprietorship is a business owned by one person. It is easy to form. The owner could lose personal assets to meet obligations of business. Business ends with death of owner or closing of business. A partnership is a business owned by more than one person. It is easy to form. The partners could lose personal assets to meet obligations of partnership. It ends with death of partner or closing of business. A corporation is a business owned by stockholders. It is more difficult to form. Stockholders have limited personal risk. The stockholders’ loss is limited to their investment in the company. The business can continue indefinitely. Whether we are looking at a sole proprietorship, a partnership, or a corporation, the business can be classified by what the business does to earn money. Companies are categorized as service, merchandise, or manufacturing businesses. A limo service is a good example of a service company because it provides a service. The first part of this book focuses on service businesses. Gap and JC Penney sell products. They are called merchandise companies.
第二章产品成本计算 Exercises 2–1（指教材上的第2章练习第1题，下同） 1. Part #72A Part #172C Steel* $ 12.00 $ 18.00 Setup cost** 6.00 6.00 $ 18.00 $ 24.00 *($1.00 ? 12; $1.00 ? 18) **($60,000/10,000) Steel cost is assigned by calculating a cost per ounce and then multiplying this by the ounces used by each part: Cost per ounce = $3,000,000/3,000,000 ounces = $1.00 per ounce Setup cost is assigned by calculating the cost per setup and then dividing this by the number of units in each batch (there are 20 setups per year): Cost per setup = $1,200,000/20 = $60,000 2. The cost of steel is assigned through the driver tracing using the number of ounces of steel, and the cost of the setups is assigned through driver tracing also using number of setups as the driver. 3. The assumption underlying number of setups as the driver is that each part uses an equal amount of setup time. Since Part #72A uses double the setup time of Part #172C, it makes sense to assign setup costs based on setup time instead of number of setups. This illustrates the importance of identifying drivers that reflect the true underlying consumption pattern. Using setup hours [(40 ? 10) + (20 ? 10)], we get the following rate per hour: Cost per setup hour = $1,200,000/600 = $2,000 per hour
CHAPTER 11 Capital Budgeting 11-A1 (15-25 min.) Answers are printed in the text at the end of the assignment material. 11-29 (10-15 min.) 1. The present value is $480,000 and the annual payments are an annuity, requiring use of Table 2: (a)$480,000 = annual payment × 11.2578 annual payment = $480,000 ÷ 11.2578 = $42,637 (b)$480,000 = annual payment × 9.4269 annual payment = $480,000 ÷ 9.4269 = $50,918 (c)$480,000 = annual payment × 8.0552 annual payment = $480,000 ÷ 8.0552 =$59,589 2. (a)$480,000 = annual payment × 8.5595 annual payment = $480,000 ÷ 8.5595 = $56,078 (b)$480,000 = annual payment × 7.6061 annual payment = $480,000 ÷ 7.6061 = $63,107 (c)$480,000 = annual payment × 6.8109 annual payment = $480,000 ÷ 6.8109 =$70,475 3. (a) Total payments= 30 × $50,918 = $1,527,540 Total interest paid= $1,527,540- $480,000 = $1,047,540 (b) Total payments= 15 × $63,107= $946,605 Total interest paid = $946,605 - $480,000 = $466,605 11-36 (10 min.) Buy. The net present value is positive. Initial outlay * $(21,000) Present value of cash operating savings, from 12-year, 12% column of Table 2, 6.1944 × $5,000 30,972 Net present value $ 9,972 * The trade-in allowance really consists of a $5,000 adjustment of the selling price and a bona fide $10,000 cash allowance for the old equipment. The relevant amount is the incremental cash outlay, $21,000. The book value is irrelevant. 11-39 (10-15 min.) Copyright ?2011 Pearson Education 1
亨格瑞管理会计英文第15版练习答案07 CHAPTER 7 COVERAGE OF LEARNING OBJECTIVES CRITICAL CASES, FUNDA- THINKING EXCEL, MENTAL EXERCISES COLLAB. & ASSIGNMENT AND INTERNET LEARNING OBJECTIVE MATERIAL EXERCISES PROBLEMS EXERCISES LO1: Explain how budgets A1,B1 facilitate planning and coordination. LO2: Anticipate possible 25 40 human relations problems caused by budgets. LO3: Explain potentially 22 39, 40 dysfunctional incentives in the budget process. LO4: Explain the difficulties 23 42 49 of sales forecasting. LO5: Explain the major A1,B1 24,26 39 features and advantages of a master budget. LO6: Follow the principal A1,B1 29 40 43,45 steps in preparing a master budget. LO7: Prepare the operating A1,B1 28,29,30,31 40 43,45,46,48 budget and the supporting schedules.
基础会计学 Fundamental Accounting 课程概述： “基础会计学”是财务管理专业和经济学专业的专业课程，学习好该课程可为学生学习后续课程及相关其他专业课程奠定良好基础。该课程主要对基础会计学的基础知识作了介绍，具体内容包括借贷复式记账法与会计业务循环、企业基本经济业务的核算、制造业企业主要经济业务的核算、账务处理程序、会计核算组织与规范等。 Brief Introduction: The courseFundamental Accounting is a major required course for the undergraduates majoring in financial management and economic，mastering this course can help the students lay the solidfoundation oflearning the latter courses and other relevant major subjects.The course mainly introduces the basic accountingknowledge of the fundamental accounting, which includes debit-credit double entry bookkeeping, accounting cycle,checking of basic economic business in enterprises,checking of main economic business inmanufacturing,账务处理程序、会计核算组织与规范这两个是在不会。 课程目标： 1.掌握会计核算的基本理论，基本方法 2.掌握会计核算的组织程序，会计核算的载体。