管理会计双语版总结
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Different approaches to budgeting Preparing an operating budget
Sales budget Cost of goods sold budget Selling and administrative expenses budget Purchases budget Cash budget
11
Direct Material
Direct Labor
Variable
Costs
Variable Mfg. Variable S&A
Sales
Fixed Mfg.
Contribution Margin
Fixed S&A Profit
12
Direct Material
Direct Labor Cost of Good Sold Variable Mfg. Fixed Mfg.
Fixed Costs and Opportunity Costs
D. Discontinuing A Business Segment
Avoidable Costs & Unavoidable Costs
17
Chapter 8 : Capital Budgeting
Time value of money
Sales
Variable S&A Gross Margin Profit
13
Fixed S&A
Chapter 7 : Making Decisions Using Relevant Information
Relevant Information
Relevant Cost & Relevant Benefit
2
Chapter 2 :Classifying Costs
Assigning costs to cost objects
Product cost
Direct materials Direct labor Manufacturing overhead
Period cost
Selling cost Administrative cost
Review
1
Chapteຫໍສະໝຸດ Baidu 1: Introduction
Why management accounting? Origin and evolution of management accounting Contrasting financial and management accounting Ethical standards for management accounting Management accounting in China
Performance report
Static budget Flexible budget Static budget variance
Sales volume variance Flexible budget variance
Favorable variance and unfavorable variance Management by exception
Yes
No
The cost or benefit is not a relevant item.
Does the cost or benefit differ from decision alternatives?
Yes
No
The cost or benefit is not a relevant item.
7
Chapter 5 : Cost Behavior
Common cost behavior patterns
Fixed costs : think as total Variable costs : think on a per-unit basis Relevant range
Mixed costs and its separation
Contribution margin
total vs. per unit Contribution margin ratio
Break-even (in units and in dollars) Target profit (in units and in dollars)
Three formulas (page 136)
(Sales) – (VC ratio * Sales) – FC = TP ratio * Sales
10
Chapter 6 : Business Decisions using Cost Behavior
Absorption costing and variable costing
Functional and contribution income statement
The cost or benefit is a relevant item.
15
According to the above two criteria:
Historical cost (sunk cost) is irrelevant. Future cost that will not differ is irrelevant. Variable cost can be irrelevant. Fixed cost can be relevant. Precise but irrelevant information is worthless for decision making. Imprecise but relevant information can be useful.
Sunk Costs Opportunity Costs Quantitative Factors Qualitative Factors Segment Margin
14
Determining Relevant Cost and Benefit
Is the item a future cost or benefit?
4
Chapter 3 :Determining Costs of Products
Job order costing
Direct material : trace Direct labor : trace Manufacturing overhead : allocate
Cost pool and allocation base Actual cost system vs. normal cost system Over-apply vs. under-apply
20
Chapter 10 : Standard Costing
Standards
Quantity and price standards Ideal and practical standards
Variance Analysis
Direct material quantity variance Direct material price variance Direct labor efficiency variance Direct labor rate variance Variable mfg. overhead efficiency variance Variable mfg. overhead spending variance Fixed mfg. overhead budget variance Fixed mfg. overhead volume variance
Sensitivity analysis
9
CVP Equations
Sales – Variable Costs – Fixed Costs = target profit
(SP/unit * units) – (VC/unit * units) – FC = target profit
(Sales) – (VC ratio * Sales) – FC = target profit
16
Types of Problems
A. Equipment Replacement
Sunk Costs & Depreciation
B. Special Order
Fixed Cost & Opportunity Costs
C. Outsourcing: Make or Buy Decision
Comparison of traditional and ABC overhead allocation
6
Major Points of Cost Allocation
1 2 3
4
Why allocate? How much to allocate?
Allocate to whom? How to allocate?
Capital budgeting methods
Net present value Profitability index Internal rate of return Payback period Accounting rate of return
18
Chapter 9 : The Operating Budget
Manufacturing cost for current period + Beginning work-in-process inventory = cost of goods available to be finished - Ending work-in-process inventory = Cost of goods manufactured
Prime cost and conversion cost
3
Chapter 2 :Classifying Costs
Inventory classifications
Raw materials Work-in-process Finished goods
The flow of product cost
ABC
Cost driver : causes the cost to occur Steps to employ ABC
Review manufacturing overhead Identify major activities Pool the costs of major activities Determine multiple cost application rates Determine the costs assigned to individual products
Cash receipts and cash payments schedule
Budgeted statements
Balance sheet, income statement and statement of cash flow
19
Chapter 9 : The Operating Budget
The engineering approach Scatter graphing The high-low method Regression analysis
8
Chapter 6 : Business Decisions using Cost Behavior
Cost-volume-profit analysis
Exhibit A8-5 and A8-10 (P 213 and P 216)
The business planning process
The why, the what, the how and the who
Cost of capital
Weighted average cost of capital
Process costing
Equivalent units and cost per equivalent unit Cost of ending work-in-process Cost of completed units
5
Chapter 4 : Activity Based Costing
Sales budget Cost of goods sold budget Selling and administrative expenses budget Purchases budget Cash budget
11
Direct Material
Direct Labor
Variable
Costs
Variable Mfg. Variable S&A
Sales
Fixed Mfg.
Contribution Margin
Fixed S&A Profit
12
Direct Material
Direct Labor Cost of Good Sold Variable Mfg. Fixed Mfg.
Fixed Costs and Opportunity Costs
D. Discontinuing A Business Segment
Avoidable Costs & Unavoidable Costs
17
Chapter 8 : Capital Budgeting
Time value of money
Sales
Variable S&A Gross Margin Profit
13
Fixed S&A
Chapter 7 : Making Decisions Using Relevant Information
Relevant Information
Relevant Cost & Relevant Benefit
2
Chapter 2 :Classifying Costs
Assigning costs to cost objects
Product cost
Direct materials Direct labor Manufacturing overhead
Period cost
Selling cost Administrative cost
Review
1
Chapteຫໍສະໝຸດ Baidu 1: Introduction
Why management accounting? Origin and evolution of management accounting Contrasting financial and management accounting Ethical standards for management accounting Management accounting in China
Performance report
Static budget Flexible budget Static budget variance
Sales volume variance Flexible budget variance
Favorable variance and unfavorable variance Management by exception
Yes
No
The cost or benefit is not a relevant item.
Does the cost or benefit differ from decision alternatives?
Yes
No
The cost or benefit is not a relevant item.
7
Chapter 5 : Cost Behavior
Common cost behavior patterns
Fixed costs : think as total Variable costs : think on a per-unit basis Relevant range
Mixed costs and its separation
Contribution margin
total vs. per unit Contribution margin ratio
Break-even (in units and in dollars) Target profit (in units and in dollars)
Three formulas (page 136)
(Sales) – (VC ratio * Sales) – FC = TP ratio * Sales
10
Chapter 6 : Business Decisions using Cost Behavior
Absorption costing and variable costing
Functional and contribution income statement
The cost or benefit is a relevant item.
15
According to the above two criteria:
Historical cost (sunk cost) is irrelevant. Future cost that will not differ is irrelevant. Variable cost can be irrelevant. Fixed cost can be relevant. Precise but irrelevant information is worthless for decision making. Imprecise but relevant information can be useful.
Sunk Costs Opportunity Costs Quantitative Factors Qualitative Factors Segment Margin
14
Determining Relevant Cost and Benefit
Is the item a future cost or benefit?
4
Chapter 3 :Determining Costs of Products
Job order costing
Direct material : trace Direct labor : trace Manufacturing overhead : allocate
Cost pool and allocation base Actual cost system vs. normal cost system Over-apply vs. under-apply
20
Chapter 10 : Standard Costing
Standards
Quantity and price standards Ideal and practical standards
Variance Analysis
Direct material quantity variance Direct material price variance Direct labor efficiency variance Direct labor rate variance Variable mfg. overhead efficiency variance Variable mfg. overhead spending variance Fixed mfg. overhead budget variance Fixed mfg. overhead volume variance
Sensitivity analysis
9
CVP Equations
Sales – Variable Costs – Fixed Costs = target profit
(SP/unit * units) – (VC/unit * units) – FC = target profit
(Sales) – (VC ratio * Sales) – FC = target profit
16
Types of Problems
A. Equipment Replacement
Sunk Costs & Depreciation
B. Special Order
Fixed Cost & Opportunity Costs
C. Outsourcing: Make or Buy Decision
Comparison of traditional and ABC overhead allocation
6
Major Points of Cost Allocation
1 2 3
4
Why allocate? How much to allocate?
Allocate to whom? How to allocate?
Capital budgeting methods
Net present value Profitability index Internal rate of return Payback period Accounting rate of return
18
Chapter 9 : The Operating Budget
Manufacturing cost for current period + Beginning work-in-process inventory = cost of goods available to be finished - Ending work-in-process inventory = Cost of goods manufactured
Prime cost and conversion cost
3
Chapter 2 :Classifying Costs
Inventory classifications
Raw materials Work-in-process Finished goods
The flow of product cost
ABC
Cost driver : causes the cost to occur Steps to employ ABC
Review manufacturing overhead Identify major activities Pool the costs of major activities Determine multiple cost application rates Determine the costs assigned to individual products
Cash receipts and cash payments schedule
Budgeted statements
Balance sheet, income statement and statement of cash flow
19
Chapter 9 : The Operating Budget
The engineering approach Scatter graphing The high-low method Regression analysis
8
Chapter 6 : Business Decisions using Cost Behavior
Cost-volume-profit analysis
Exhibit A8-5 and A8-10 (P 213 and P 216)
The business planning process
The why, the what, the how and the who
Cost of capital
Weighted average cost of capital
Process costing
Equivalent units and cost per equivalent unit Cost of ending work-in-process Cost of completed units
5
Chapter 4 : Activity Based Costing