CHAPTER 17: ACCOUNTING FOR STRATEGIC MANAGEMENT CHAPTER OUTLINE Learning outcomes Introduction Organisational strategy o Definition o Cumulative strategy (strategising) Strategic management accounting (SMA) o Definition o Components of SMA o Does SMA still exist; or‚ what is it becoming? The balanced scorecard o Its origins and its purpose o Elements and characteristics of a balanced scorecard o Designing a balanced scorecard o Features of a balanced scorecard o Why has
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Chapter 5: Cost Behavior: Analysis and Use As we shall see in later chapters‚ the ability to predict how costs respond to changes in activity is critical for making decisions‚ controlling operations‚ and evaluating performance. Three major classifications of costs were discussed in this chapter—variable‚ fixed‚ and mixed. Mixed costs consist of variable and fixed elements and can be expressed in equation form as Y = a + bX‚ where X is the activity‚ Y is the cost‚ a is the fixed cost element‚ and
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PROBLEM 1. The Huyden Company builds equipment to customer’s specifications. On March 1‚ two jobs were in process with the following costs and information: | Job 43 | Job 44 | Direct materials | $10‚200 | $34‚400 | Direct labor | 21‚000 | 10‚400 | Applied overhead* | 4‚950 | 7‚370 | Total cost | $36‚150 | $52‚170 | | | | Machine hours | 45 | 67 | *Applied on the basis of machine hours During March‚ Job 45 was started and Job 44 was completed and delivered to
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Midterm Exam You will have 2 ½ hours to complete the exam. The exam is open note and open book‚ everything but open conversation. There are nine (9) problems worth 30 points each. Take your time. You cannot stop and restart the exam. You will not need a proctor for the exam. You will need to know how to calculate the following: Product costs Period costs Variable costs Fixed costs High-low method Prepare a contribution format income statement Prepare a traditional format income statement
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Dawn Howarth ACC122 Managerial Accounting Career Paper Baker College What is Managerial Accounting Managerial accounting is the process of identifying‚ recording‚ analyzing and finally presenting the financial data which is used by the management and business owners for the purposes of command and for decision making. The difference between financial accounting and management accounting Financial accounting is reported publicly while management accounting is used by the company or organization
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Internal managerial accounting systems are used to provide great information so that the management team can make great decisions. According to http://smallbusiness.chron.com/objectives-internal-managerial-accounting-systems-20945.html manufacturing plants uses these systems to help in costing and managing the manufacturing process. The main objective is to make an internal managerial accounting system provide the information to the mangers so that they can make good sound decisions. The goal is
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Managerial Accounting Vs Financial Accounting Resources carbon.cudenver.edu/~gcolbert/6550.ch12.pdf MANAGERIAL ACCOUNTING AND COST-VOLUME-PROFIT Managerial Accounting Contrasted to Financial Accounting. Managerial accounting supports Managerial Accounting vs. Financial Accounting cob.ohio-state.edu/~bentz_1/525/problems/Finvsmgrl.doc Bentz Financial vs. Managerial Accounting in which financial accounting and managerial accounting are alike in which managerial accounting seems to differ from
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making across the various functional areas of an organization Managerial accounting: the form of accounting concerned with providing information to managers for use in planning and controlling operations and for decision making Financial accounting: the form of accounting concerned with providing information to shareholders‚ creditors‚ and others outside the organization The work of managers and their need for managerial accounting information Every organization has managers – someone must be
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FINAL REQUIREMENT MANAGERIAL ACCOUNTING THU 06:00PM - 09:00PM Submitted to: Prof. Ana Bess Pingol Submitted on: Thursday‚ July 25‚ 2013 Submitted by: Bryan Joseph Panjaitan COMPANY’S BRIEF HISTORY Mansion88 is a Philippine licensed bookmaker that is renowned as one of the most reputable Asian online gaming sites owned by an Indonesian conglomerate Putera Sampoerna in 1998 after he purchased the brand from European betting company. The company itself was founded in 1990 as Gibraltar Mansion
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University of Washington – ACCT 225 – Intro Managerial Accounting Midterm 2 Study Guide Below is a list of some of the things you should definitely be familiar with for Midterm 2. It is not intended to be a complete list. Rather‚ this should be used a supplement to the studying you were otherwise doing. Chapter 7 Under variable costing‚ only those manufacturing costs that vary with production quantity (output) are included as product costs. This would typically include direct materials‚ direct
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