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Karen Grossman Tabak

Karen Grossman Tabak. ABAC 2210 phone 529-9678 Office Hours Tuesday & Thursday 8:15-9:15 & 12:15-2:15 (but PLEASE schedule an appointment if you can 529-9418) t abak@maryville.edu c paecon@aol.com accweb.itr.maryville.edu/tabak. We will be using a seating chart

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Karen Grossman Tabak

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  1. Karen Grossman Tabak • ABAC 2210 phone 529-9678 • Office Hours Tuesday & Thursday 8:15-9:15 & 12:15-2:15 (but PLEASE schedule an appointment if you can 529-9418) • tabak@maryville.edu • cpaecon@aol.com • accweb.itr.maryville.edu/tabak

  2. We will be using a seating chart • Please decide where you want to sit & sit there next class • There are advantages & disadvantages to the seats.

  3. Rules of the Room • Respect Equipment • Respect each other • Remember you are here to learn • Don’t rely on equipment • Backup! Backup! And Backup again!

  4. Rules for this Class • Come to class (preferably, on time!!!) • Do your homework - before class! • ALWAYS CHECK THE FRONT TABLE FOR HANDOUTS!!!! • Act like you are here to learn. (EVEN ON DAYS YOU ARE NOT IN THE MOOD - PRETEND IF YOU MUST.) • Relax about exams • Don’t make fun of my inability to spell. • Don’t make fun of my inability to add without a calculator. • Do not play games nor search the internet during class

  5. RULES ON HOMEWORK • Do the HOMEWORK • DO NOT PLAGIARIZE MY WORK • I WILL COLLECT HOMEWORK OCCASIONALLY • SAVE! SAVE! SAVE! • AND THEN SAVE AGAIN • DO NOT PLAGIARIZE MY WORK • SUCCESS IN THIS CLASS IS LIKE BAKING A CAKE – IF YOU FOLLOW THE RECIPE, IT WILL COME OUT OK!

  6. Supplies • Need the right ingredients • Disks – bring one to class (name) • Notebook to keep your homework in • Backup! Backup! And Backup again! • Will need a nice notebook for portfolio

  7. Syllabus • One test is dropped • Participation and attendance are critical. • Help is available in the Academic Learning Center. Use it! • LET’S LOOK AT THE ASSIGNMENTS SHEET • LET’S SIGN THE ACKNOWLEDGEMENT FORM

  8. Computer Requirements • You must know how to use excel • Let’s try to do a few things: • Let’s build a worksheet

  9. Learn the Lingo • Chapter 1 & 2 are primarily terminology • We will come back to Chapter 1 • We will have fun in this class • You do not need to memorize anything

  10. The role of Managers • DECISION MAKING • PLANNING • DIRECTING OPERATIONS • CONTROLLING ALL WITHIN A PRINCIPAL AGENT MODEL

  11. Managerial Accounting • Enhances Decision Making • Guides Strategy and Development • Evaluates existing Strategies • Focuses efforts related to • improving organizational performance • evaluating the contributions of organizational units & members

  12. Cost Object The thing we want to know the cost of. Can be a product LIKE CHOCOLATE, a service, a department, even this class.

  13. Cost object can be many things • Could be this course - this session • Could be this course - Managerial Accounting • Could be the accounting classes in general • Could be the business school as a whole

  14. You must know what the cost object is!!!! Changing the cost object changes the nature of the cost analysis!

  15. Nature of Cost • Fixed Cost • Variable Cost • Direct Cost • Indirect Cost/COMMON COSTS • NON-VALUE ADDED COSTS • Controllable cost • Uncontrollable Cost

  16. Manufacturing Cost Classifications • Direct Materials • Direct Labor • Manufacturing Overhead • indirect materials • indirect labor • other manufacturing cost

  17. Economic Characteristics of Cost • Opportunity cost • sunk cost • incremental cost • average cost • marginal cost

  18. Video • This company makes a mazak • Use a lot of terms • WIP • CAD • AGV • Count the Direct Labor Folks • Speak with a British Accent

  19. Thought for the Day There is no comparison between that which is lost by not trying, and that which is lost by not succeeding. Sir Francis Bacon

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