3310 – Chapter 1 Cost Accounting: Information for Decision Making.

Slides:

Advertisements

Similar presentations

Managerial Accounting: An Introduction To Concepts, Methods, And Uses

Advertisements

Accounting Principles, Ninth Edition

Sarbanes-Oxley Act. 2 What Is It? Act passed by Congress in response to the recent and continuing corporate scandals. Signed into law July 30, Established.

Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin Prologue Managerial Accounting and the Business Environment PowerPoint.

Managerial Accounting

© The McGraw-Hill Companies, Inc., 2008 McGraw-Hill/Irwin 1-1 Financial Accounting THIRTEENTH EDITION Williams Haka Bettner Carcello.

© The McGraw-Hill Companies, Inc., 2008 McGraw-Hill/Irwin 1-1 Accounting Information for Decision Making Chapter 1.

© The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin Financial & Managerial Accounting The Basis for Business Decisions TWELFTH EDITION Williams Haka.

2009 Foster Business School Cost Accounting L.DuCharme 1 Introduction to Accounting 311 Student information sheets Syllabus Chapter 1 in text Words of.

Management, the Controller and Cost Accounting

Cost Accounting Dr. Baldwin University of Arkansas – Fort Smith Fall 2010.

©2007 Prentice Hall Business Publishing, Introduction to Management Accounting 14/e, Horngren/Sundem/Stratton ©2008 Prentice Hall Business Publishing,

Stern School of Business Managerial Accounting Summer 2005 Instructor: Francois Brochet.

Managerial Accounting: An Introduction To Concepts, Methods, And Uses 9 th Edition Maher, Stickney and Weil.

The Accountant’s Role in the Organization

Information for Decision Making Chapter Learning Objectives 1.Describe the way managers use accounting information to create value in organizations.

h11111ythtr Copyright © 2014 Pearson Education, Inc. publishing as Prentice Hall

Cornerstones of Managerial Accounting, 5e

Managerial Accounting & the Business Environment 2/02/04 Chapter 1.

1 INTRODUCTION Overview of Managerial Accounting Accounting Principles II AC Fall Semester, 1999.

Fundamentals of Cost Accounting, 4th edition Lanen/Anderson/Maher

Copyright © 2003 Pearson Education Canada Inc. Slide 1-1 Chapter 1 The Accountant’s Role in the Organization.

Dr. Mohamed A. Hamada Lecturer of Accounting Information Systems 1-1 Lecture 1 Introduction to Managerial Accounting.

Williams Haka Bettner Carcello

Cost Management and Strategy: An Overview

Use only with permission of Susan Crosson Chapter 1 : A Manager’s Perspective Chapter 1 The Changing Business Environment: A Manager’s Perspective Fall.

Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall. Introduction to Managerial Accounting Chapter 1 1.

© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.

© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.

Chapter 1 The Accountant’s Role in the Organization.

© 2010 The McGraw-Hill Companies, Inc. Managerial Accounting and the Business Environment Chapter 1.

Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter 1 The Changing Role of Managerial Accounting in a Dynamic.

1 PowerPointPresentation by PowerPoint Presentation by Gail B. Wright Professor Emeritus of Accounting Bryant University © Copyright 2007 Thomson South-Western,

© The McGraw-Hill Companies, Inc., 2005 McGraw-Hill/Irwin 1-1 Financial & Managerial Accounting The Basis for Business Decisions THIRTEENTH EDITION Williams.

Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter 1 Introduction to Accounting.

MANAGERIAL ACCOUNTING OVERVIEW & BASIC CONCEPTS

Copyright © 2008, The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin Chapter One Managerial Accounting and the Business Environment.

Accounting 3020 Chapter 1 – Managerial Accounting and the Business Environment.

{ Acct 2220 Chp 1: Review PPT slides in conjunction with your Chapter text reading. Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction.

Chapter 1. Major Differences Between Financial & Managerial Accounting Managerial AccountingFinancial Accounting PurposeDecision making Communicate financial.

1-1 Managerial Accounting … using your skills and knowledge to create value for organizational stakeholders……they understand financial and operational.

Communicating and Interpreting Accounting Information Chapter 5 McGraw-Hill/Irwin © 2009 The McGraw-Hill Companies, Inc.

Principles of Managerial Chapter 1. Assignment Exercises 1 and 2.

McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Accounting and the Business Environment Chapter 1.

Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall. Introduction to Managerial Accounting Chapter 1 1.

Chapter Ten An Introduction to Management Accounting © 2015 McGraw-Hill Education.

Cost Accounting Dr. Baldwin University of Alabama in Huntsville Spring 2010.

© The McGraw-Hill Companies, Inc., 2003 McGraw-Hill/Irwin Slide 1-1 ACCOUNTING: Information for Decision Making Chapter 1.

Copyright © 2006, The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 1 11 th Edition Chapter 1.

McGraw-Hill/Irwin Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. 1-1 Chapter One: Accounting: Information for Decision Making.

TAMILLA CURTIS AND JOHN LEDGERWOOD EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, USA THE COURAGE TO SPEAK UP A TEACHING CASE STUDY WORKPLACE AND PROFESSIONAL ETHICS.

1-1 Fundamental Managerial Accounting Concepts Thomas P. Edmonds Bor-Yi Tsay Philip R. Olds Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights.

Table 1: Comparison of Management and Financial Accounting.

Management Accounting Overview CHAPTER ONE 1. OBJECTIVES 1.Discuss the need for management accounting information. 2.Differentiate between management.

INTRODUCTION TO MANAGERIAL ACCOUNTING CHAPTER 1 1 Professor Debbie Garvin, JD; CPA – ACG2071.

Objective 1.03 Understanding Ethics Needed For Employment In Accounting 1 Objective 1.03 Understanding Ethics.

The Changing Role of Managerial Accounting in a Dynamic Business Environment Chapter 1 McGraw-Hill/Irwin Copyright © 2014 McGraw-Hill Education. All rights.

The Changing Role of Managerial Accounting in a Dynamic Business Environment Chapter 1 McGraw-Hill/Irwin Copyright © 2014 McGraw-Hill Education. All rights.

Cost Accounting: Information for Decision Makers

Information for Decision Making

The Accountant’s Role in the Organization

GARRISON NOREEN Managerial Accounting tenth Edition.

Managerial Accounting & the Business Environment

MANAGERIAL ACCOUNTING

Managerial Accounting and the Business Environment

Accounting and the Business Environment

The Accountant’s Role in the Organization

1-1 Financial Accounting. 1-2 This course is an introduction to the basic concepts and standards underlying financial accounting systems. It emphasizes.

Presentation transcript:

3310 – Chapter 1 Cost Accounting: Information for Decision Making

Value Creation in Organizations Value chain (Exhibit 1-1, page 4) 1.Research and development 2.Design 3.Purchasing 4.Production 5.Marketing and sales 6.Distribution 7.Customer service

Value Creation in Organizations Using cost information to increase value –Value chain –Supply chain –Distribution chain Identifying value-added activities Eliminating non-value-added activities

Accounting Systems CostFinancial InternalExternal Prepared for Prepared for managersinvestors and creditors Future-orientedHistorical SegmentedWhole company Any formatOften follows GAAP

Cost Data for Managerial Decisions Cost drivers Different costs for different purposes Cost control and evaluation Budgeting Different data for different decisions Cost-benefit approach

Trends Lean manufacturing and accounting ABC Performance measures Benchmarking Customer profitability analysis Outsourcing/insourcing Cost of quality

Key Financial Players in the Organization Chief Financial Officer (CFO) Treasurer Controller Internal auditor Cost accountant Other positions

Ethical Issues for Accountants Increased Importance IMA Code of Ethics (Appendix) –Competence –Confidentiality –Integrity –Credibility Resolution of Ethical Conflict (Appendix) Codes of Ethics – Company Codes of Conduct on the International Level

Sarbannes-Oxley Act of 2002 Executives (CEO and CFO) are now responsible for everything in their financial statements!!!! –They must both sign the financial statements and say that the financial statements do not omit “material” information. –They must disclose that they have evaluated the company’s internal controls. –They must notify the company’s auditors and the audit committee of the board of any fraud that involves management. Executives signing off on fraudulent statements will go to criminal jail (No country clubs!)

Certified Management Accountant (CMA) Exam NOW TWO PARTS ONLY: 1.Financial Planning, Performance & Control 2.Financial Decision Making

Homework Problems 1-40, 1-43 (2 points each) DUE THURSDAY, AUGUST 27