ACCT116 Management Accounting Spring Semester 2012/13 Course Instructor Dr Emad AWADALLAH Library Building Basement Room B161 Email: emad.awadallah@qu.edu.qa Contact Details O Course Instructor: Dr Emad AWADALLAH My Office room: Library Building‚ Basement‚ Room B161 Office Hours: Sunday Female 9:30-10:30 am Office Hours: Thursday Male 9:30-10:30 am E-mail: emad.awadallah@qu.edu.qa Core Text Book By Garrison‚ Noreen and Brewer‚ 14th edition‚ 2011. Assessment Grading First Exam Second
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Managerial Accounting Exam 1 1. Managerial accounting places considerable weight on: A) generally accepted accounting principles. B) the financial history of the entity. C) ensuring that all transactions are properly recorded. D) detailed segment reports about departments‚ products‚ and customers. Answer: D AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Measurement LO: 1 Level: Easy 2. The plans of management are often expressed formally in:
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involves: 1. Planning to undertake only those variable overhead activities that add value for customers using the product or service‚ and 2. Planning to use the drivers of costs in those activities in the most efficient way. 8-2 At the start of an accounting period‚ a larger percentage of fixed overhead costs are locked-in than is the case with variable overhead costs. When planning fixed overhead costs‚ a company must choose the appropriate level of capacity or investment that will benefit the company
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1. Basic Concepts Product cost = Direct Labor (DL) + Direct Materials (DM) + Manufacturing Overhead (MOH) Financial accounting Managerial Accounting + Sales + Sales - COGS - Variable Costs = Gross Profit = Contribution Margin - SG&A - Fixed Costs = Net Profit = Net Profit COGS (Cost of Goods Sold) is an “inventoriable cost” ( recorded in the Balance Sheet as inventory and expensed (Income Statement) when goods are sold SG&A (Selling‚ General & Administrative) are
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Welcome to Managerial Accounting. In this module‚ we will provide a general overview of activity based costing‚ specifically: What is activity based costing? Welcome to Managerial Accounting Instructor: O Martin Email Instructor __________________________ ACTIVITY BASED COSTING SYSTEM Two stage process Activity pools Activity categories With & Without ABC example What is Activity based costing (ABC)? Activity based costing (ABC) assigns manufacturing overhead costs to products in a more logical
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Part 1 of Final Project Melissa Scott 1/28/2014 Pablo Simon Managerial Accounting Strategic business decisions are essential to achieve the long-term goals of the company. Strategies are mostly concerned with the scope of business activities and growth in the business (Rosenzweig‚ 2013). They form the fundamental basis for any organization‚ which is based on the facts and in-depth analysis. Historical trends in the financial statement provide for guidance about the performance
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Managerial Accounting Reality Check Summaries Professor Shin Hee-Lim Shin 1001006 Reality Check – What’s your blog’s ROI? Summary ROI has been always one of the important factors to determine how profitable the business is doing. However‚ for until last few decades‚ ROI was only implementing to evaluate the hard assets like buildings and equipment. But in nowadays‚ many companies are using ROI to evaluate the investment in technology‚ such as blog. As a following example‚ it shows that
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ACT 5733 – Advanced Managerial Accounting Fall 2012 HW #3 Question #1 Consider the following potential investment‚ which has the same risk as the firm’s other projects: Time Cash Flow 0 -$95‚000 1 $20‚000 2 $24‚000 3 $24‚000 4 $24‚000 5 $24‚000 6 $32‚000 a) What are the investment’s payback period‚ IRR‚ and NPV‚ assuming the firm’s WACC is 10%. b) If the firm requires a payback period of less than 5 years‚ should this project be accepted? Answer: Yes it should accept
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Key Figures for the Exercises‚ Problems and Cases To Accompany Managerial Accounting Creating Value in a Dynamic Business Environment 9th Edition McGraw-Hill/Irwin 2011 by Ronald W. Hilton CHAPTER 1 No key figures. CHAPTER 2 E 2-24 Beginning inventory of finished goods‚ case I: $84‚000 E 2-25 1. Total compensation: $720 E 2-26 2. Total overtime premium: $20 E 2-29 2. Cost of goods sold: $820‚000 E 2-30 (f) $77‚000 (o) $110 E 2-31 2. Cost per call
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Introduction The purpose of management accounting in the organization is to support competitive decision making by collecting‚ processing‚ and communicating information that helps management plan‚ control‚ and evaluate business processes and company strategy. The interesting thing about management accounting is that it is rare to find an individual within a company with the title of “management accountant.” Often many individuals function as accountants within the organization‚ but these individuals
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