Managerial Accounting Concepts and Principles

Oct 12, 2012

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Cost Behavior And Classification. Plastic board used to mount the chip,$3.50 each.Assembly worker pay of $15 per hour to attach chips to plastic board.Salary for factory maintenance workers to maintain factory equipment.Factory supervisor pay of $55,000 per year to supervise employees.Real estat

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Managerial Accounting Concepts and Principles

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ACCOUNTING CONCEPTS and PRINCIPLES

ACCOUNTING CONCEPTS and PRINCIPLES. True and fair concept. A firm should disclose all significant information in the financial statements to the concerned parties so that the users may have a true and fair view of the state of affairs of the firm. The need for objectivity.

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Managerial Accounting and Cost Concepts

Managerial Accounting and Cost Concepts. Chapter 02. Direct Materials. Direct Labor. Manufacturing Overhead. Classifications of Manufacturing Costs. The Product. Raw materials that become an integral part of the product and that can be conveniently traced directly to it. Direct Materials.

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ACCOUNTING CONCEPTS and PRINCIPLES

ACCOUNTING CONCEPTS and PRINCIPLES. 會計概念及原則. Accounting concepts ( 會計概念 ). Recording has been based on certain assumptions.( 假設 ) e.g. Can we made depreciation using straight line method for 2001, but using reducing balance method for 2002, using revaluation method for 2003……???.

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Accounting Concepts and Principles

Accounting Concepts and Principles. Introduction. Actually there are a number of accounting concepts and principles based on which we prepare our accounts

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Managerial Accounting and Cost Concepts. Work of Management. Planning. Directing and Motivating. Controlling. Select alternative that does the best job of furthering organization’s objectives. Develop budgets to guide progress toward the selected alternative. Planning.

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Managerial Accounting and Cost Concepts

Managerial Accounting and Cost Concepts. Chapter 2. Learning Objective 1. Identify and give examples of each of the three basic manufacturing cost categories. Direct Materials. Direct Labor. Manufacturing Overhead. Classifications of Manufacturing Costs. The Product.

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Managerial Accounting and Cost Concepts

Managerial Accounting and Cost Concepts. Chapter 2. Work of Management. Planning. Directing and Motivating. Controlling. Select alternative that does the best job of furthering organization’s objectives. Develop budgets to guide progress toward the selected alternative. Planning.

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Managerial Accounting Concepts and Principles

16. Managerial Accounting Concepts and Principles. Describe managerial accounting and the role of managerial accounting in a business. 1. Describe and illustrate the following costs: 1. direct and indirect costs 2. direct materials, direct labor, and factory overhead costs

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Managerial Accounting Concepts

Chapter Two. Managerial Accounting Concepts. COSTS. Cost – the amount of cash or cash equivalent sacrificed for goods and/or services that are expected to bring a current or future benefit to the organization Cost categories Direct costs Indirect costs. Accumulating Cost.

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Managerial Accounting Concepts and Principles

0. 16. Managerial Accounting Concepts and Principles. 0. After studying this chapter, you should be able to:. Describe managerial accounting, and the role of managerial accounting in a business.

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Principles of Managerial Accounting

Principles of Managerial Accounting. Chapter 7. Absorption Costing. Treats ALL costs of production as product costs, regardless of whether they are variable or fixed.

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Basic Managerial Accounting Concepts

Basic Managerial Accounting Concepts. Costs: provide future benefits Become expenses when used up Accumulating costs: linking costs to cost object Cost object: cheeseburger flying passenger to Tampa Building a Walgreens Rural King store in Paris. Basic Managerial Accounting Concepts.

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Managerial Accounting and Cost Concepts

Managerial Accounting and Cost Concepts. Chapter 2. Learning Objective 2-1. Identify and give examples of each of the three basic manufacturing cost categories. Classifications of Manufacturing Costs. Direct Materials. Direct Labor. Manufacturing Overhead. The Product.

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Managerial Accounting and Cost Concepts. Chapter 01. Learning Objective 1. Identify and give examples of each of the three basic manufacturing cost categories. Direct Materials. Direct Labor. Manufacturing Overhead. Classifications of Manufacturing Costs. The Product.

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Managerial Accounting Concepts and Principles. Chapter 16. Learning Objectives. Describe managerial accounting and the role of managerial accounting in a business. Describe and illustrate the following costs: direct and indirect costs

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Managerial Accounting and Cost Concepts

Managerial Accounting and Cost Concepts. Contribution Format High Low Method Least Squares Method. The Contribution Format. Let’s put our knowledge of cost behavior to work by preparing a contribution format income statement.

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Principles of Managerial Accounting

Principles of Managerial Accounting. Chapter 6. Cost-Volume-Profit (CVP) Analysis. CVP is used to predict the impact on profits with changes: Selling price Variable cost per unit Sales volume Total fixed costs. Contribution Margin. Contribution margin:

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Basic Managerial Accounting Concepts

Basic Managerial Accounting Concepts. Cost Behavior: Fixed Costs Fixed vs. Variable Relevant range: normal production levels Behavior of fixed costs as production increases Implications for pricing of products?. Basic Managerial Accounting Concepts. Cost Behavior: Variable Costs

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Managerial Accounting and Cost Concepts

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Accounting Concepts and Principles

Accounting Concepts and Principles. Introduction. Actually there are a number of accounting concepts and principles based on which we prepare our accounts

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Managerial Accounting and Cost Concepts

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Principles of Managerial Accounting

Principles of Managerial Accounting. ACCT -104. Syllabus. Fundamental of Managerial Accounting – Meaning, Definition and objectives of Managerial Accounting. Distinction between Financial and Managerial Accounting. Distinction between Managerial and Cost Accounting.

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