Basic Costing Homework Recap. Basic Costing Lesson 1 Chapter 1 - Introduction to basic costing systems.

Slides:

Advertisements

Similar presentations

Chapter 15 Business Financial Records 1 Chapter 15 Business Financial Records ©2008 Thomson/South-Western.

Advertisements

Introduction to Management Accounting Dr.Meenakshi.A.singh.

Introduction Businesses have to constantly process information about themselves and their environments so that they can compare their actual condition.

Final Exam Review Notes Chapter 1 I. Introduction Structure of Production Agriculture Trend toward fewer but larger farms Contributing Factors: 1. Labor-saving.

CHAPTER ONE Introduction To Corporate Finance. Key Concepts and Skills Know the basic types of financial management decisions and the role of the financial.

Forecasting and Budgeting

Accounting & Financial Analysis 11 Lecture 2

Chapter 20 The Budgeting Process.

Introduction to Management Accounting

Chapter 1 Introduction to Corporate Finance Copyright © 2012 by McGraw-Hill Education. All rights reserved.

Chapter 10 Completing the Accounting Cycle for a Sole Proprietorship

Essential Standard 4.00 Understanding the role of finance in business. 1.

WEEK 1 INTRODUCTION Interpret Financial Information.

0 Glencoe Accounting Unit 1 Chapter 2 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Unit 1 Introduction to Accounting Chapter 1You.

Closing Entries The Why and the How….. Closing Temporary Accounts Income Summary Revenue Expenses We close revenue and expense accounts into a temporary.

0 Glencoe Accounting Unit 1 Chapter 2 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Unit 1 Introduction to Accounting Chapter 1You.

Acquiring and Organizing Management Information Chapter 3.

CHAPTER 1 OVERVIEW OF FINANCIAL STATEMENT ANALYSIS.

Essential Standard 4.00 Understanding the role of finance in business. 1.

Flexible Budgets and Standard Costs Chapter 23 HORNGREN ♦ HARRISON ♦ BAMBER ♦ BEST ♦ FRASER ♦ WILLETT.

Corporate Finance Mr. Long Sovang, MFI. 1.1 Introduction to Corporate Finance.

12-1 Chapter Twelve Financial Considerations Chapter learning objectives 12.1 Appreciate the potential benefits of accounting and financial analysis.

Part VI: Financial Management Introduction to Business 3e 15 Copyright © 2004 South-Western. All rights reserved. Accounting and Financial Analysis.

Recording and Adjusting Closing Entries. 2LESSON 8-1 ADJUSTING ENTRY FOR SUPPLIES 1 2 page Write the title of the account credited. Record the.

CDA COLLEGE ACC101: INTRODUCTION TO ACCOUNTING Lecture 1 Lecture 1 Lecturer: Kleanthis Zisimos.

Money Management and Financial Planning

Chapter 5 Notes Expanding the Ledger. Question: What is the purpose of expanding the ledger?

Chapter 43 Budgeting Techniques. Budget The main purposes are to help you. –Live within your income. –Achieve your financial goals. –Buy wisely. –Avoid.

Future Research Leaders Program Module 5 Financial, Resource and Risk Management.

MAINTAINING FINANCIAL INFORMATION

The Purpose of Accounting Assignment One. Introduction.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 9-1 Journalizing Purchases Using a Purchases Journal.

Flexible Budgets and Standard Costs Chapter 24. Objective 1 Prepare a Flexible Budget for the Income Statement.

Chapter 17 – Recording Adjusting and Closing Entries for a Partnership n Objectives –Identify accounting concepts and practices related to adjusting and.

0 Glencoe Accounting Unit 2 Chapter 10 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 10 Completing the Accounting Cycle for.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-1 Preparing an Income Statement.

The Budgeting Process 7. OBJECTIVE 1: Define budgeting, and explain budget basics.

Introduction to the Module

Extending Financial Statement Information on a Work Sheet

Financial Accounting Fundamentals

ACCOUNTING FOR PARTNERSHIPS – PART 1

Accounting I Chapter 9 – Recording Adjusting & Closing Entries for a Service Business.

Chapter 9 Financial Statements for a Sole Proprietorship

Unit 1-What is business formative assessments

Accounting: Introduction

Exploring the World of Business

Managing Financial Operations

Elective: Financial and Accounting Management

Elective: Financial and Accounting Management

Elective: Financial and Accounting Management

Elective: Financial and Accounting Management

Elective: Financial and Accounting Management

Elective: Financial and Accounting Management

Debit Credit Review Questions

Chapter 1 An Introduction to the Role of

Budgeting for Planning and Control

GBS 520 :FINANCIAL AND MANAGEMENT ACCOUNTING

1 C H A P T E R Accounting Information: Users and Uses.

Accounting Overview Financial Accounting Managerial Accounting

Chapter8 The role of accounting

Pima Medical Institute Online Education

Extending Financial Statement Information on a Work Sheet

Agenda Introduction to Budget Purpose and benefits of Budgets

Business Financial Records

CHAPTER 1 Introduction to business accounting and the role of professional skills pp. 1-29, Read pp lightly.

Financial Management in Humanitarian Response Programme

Extending Financial Statement Information on a Work Sheet

CLOSING ENTRY FOR AN INCOME STATEMENT ACCOUNT WITH A CREDIT BALANCE

Extending Financial Statement Information on a Work Sheet

Presentation transcript:

Basic Costing Homework Recap

Basic Costing Lesson 1 Chapter 1 - Introduction to basic costing systems

Objectives Identify sources of income and expenditure. Identify the 3 types of industry and explain what they are. Analyse the advantages and disadvantages of computerised recording versus a manual system. Explain the purpose and define the key characteristics of financial accounting. Explain the purpose and define the key characteristics of management accounting including how comparison can be made.

Types of Business Sole Trader Partnership Limited Company

Types of business transactions

Types of Transactions Cash / Credit Capital / Revenue

Define the following types of Industry Manufacturing Retail Service

Accounting Record Systems or What are the Advantages & Disadvantages?

Accounting Systems Financial Accounting Management Accounting

Financial Accounting Produce Financial Statements

Characteristics of Financial Accounting Using historical data Produced for outsiders Outsiders make the rules Must be accurate

Role of Management Accounts Decision making - Short, medium and long term. Planning – Short term plans – Budgets Control – Checking decisions are correct. Difference between actual and budget variances.

Types of Comparisons

Summary Lots of terminology to remember Types of transactions Types of industry Role of Financial Accounts Role of Management Accounts