Managerial Accounting
Managerial _Accounting
Managerial
Key Concepts,
_Accounting
KeyCosting
Concepts,
_Methods,
KeyCosting
Concepts,
and
Methods,
Inventory
Costing
and
Ratios
Methods,
Inventory
_ Lecture
and
Ratios
Inventory
Summary
_ Lecture
Ratios
and
Summary
_
Exam
Lecture
Revision
and
Summary
Exam
Guide.pdf
Revision
and Exam
Guide.pdf
Revision Guide.pdf
Managerial
Accounting | Key
Concepts, Costing
Methods, and
Inventory Ratios |
Lecture Summary
and Exam Revision
Guide
Managerial Accounting
Managerial _Accounting
Managerial
Key Concepts,
_Accounting
KeyCosting
Concepts,
_Methods,
KeyCosting
Concepts,
and
Methods,
Inventory
Costing
and
Ratios
Methods,
Inventory
_ Lecture
and
Ratios
Inventory
Summary
_ Lecture
Ratios
and
Summary
_
Exam
Lecture
Revision
and
Summary
Exam
Guide.pdf
Revision
and Exam
Guide.pdf
Revision Guide.pdf
, Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf
1 Cogs ÷ Ending Inventory. 2 COGS ÷ Average Inventory.
3 Sales ÷ Ending Inventory. 4 Inventory ÷ Total Assets.
Don't know?
Terms in this set (53)
What is managerial accounting? The process of providing financial and nonfinancial information
to managers for decision-making.
What is the role of managerial accounting? To help plan, control, and make business decisions.
What is ethics in managerial accounting? Standards of conduct that guide managers to act honestly and
responsibly.
What is a cost? A sacrifice of resources (usually money) to achieve a purpose.
What is an expense? A cost that has been used up and is recorded on the income
statement.
What does DM stand for? Direct Materials (raw materials directly used in a product).
What does DL stand for? Direct Labor (workers directly making the product).
What does MOH stand for? Manufacturing Overhead (all indirect production costs).
What are direct costs? Costs that can be easily traced to a product (DM and DL).
What are indirect costs? Costs that cannot be easily traced to a product (MOH).
What are Prime Costs? Direct Materials + Direct Labor.
What are Conversion Costs? Direct Labor + Manufacturing Overhead.
Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf
Managerial _Accounting
Managerial
Key Concepts,
_Accounting
KeyCosting
Concepts,
_Methods,
KeyCosting
Concepts,
and
Methods,
Inventory
Costing
and
Ratios
Methods,
Inventory
_ Lecture
and
Ratios
Inventory
Summary
_ Lecture
Ratios
and
Summary
_
Exam
Lecture
Revision
and
Summary
Exam
Guide.pdf
Revision
and Exam
Guide.pdf
Revision Guide.pdf
Managerial
Accounting | Key
Concepts, Costing
Methods, and
Inventory Ratios |
Lecture Summary
and Exam Revision
Guide
Managerial Accounting
Managerial _Accounting
Managerial
Key Concepts,
_Accounting
KeyCosting
Concepts,
_Methods,
KeyCosting
Concepts,
and
Methods,
Inventory
Costing
and
Ratios
Methods,
Inventory
_ Lecture
and
Ratios
Inventory
Summary
_ Lecture
Ratios
and
Summary
_
Exam
Lecture
Revision
and
Summary
Exam
Guide.pdf
Revision
and Exam
Guide.pdf
Revision Guide.pdf
, Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf
1 Cogs ÷ Ending Inventory. 2 COGS ÷ Average Inventory.
3 Sales ÷ Ending Inventory. 4 Inventory ÷ Total Assets.
Don't know?
Terms in this set (53)
What is managerial accounting? The process of providing financial and nonfinancial information
to managers for decision-making.
What is the role of managerial accounting? To help plan, control, and make business decisions.
What is ethics in managerial accounting? Standards of conduct that guide managers to act honestly and
responsibly.
What is a cost? A sacrifice of resources (usually money) to achieve a purpose.
What is an expense? A cost that has been used up and is recorded on the income
statement.
What does DM stand for? Direct Materials (raw materials directly used in a product).
What does DL stand for? Direct Labor (workers directly making the product).
What does MOH stand for? Manufacturing Overhead (all indirect production costs).
What are direct costs? Costs that can be easily traced to a product (DM and DL).
What are indirect costs? Costs that cannot be easily traced to a product (MOH).
What are Prime Costs? Direct Materials + Direct Labor.
What are Conversion Costs? Direct Labor + Manufacturing Overhead.
Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf Managerial Accounting_ Key Concepts, Costing Methods, and Inventory Ratios.pdf
