Contents
Hoofdstuk 1..................................................................................................................................................1
Hoofdstuk 2..................................................................................................................................................3
Hoofdstuk 3..................................................................................................................................................4
Hoofdstuk 4..................................................................................................................................................5
Hoofdstuk 5..................................................................................................................................................5
Hoofdstuk 6..................................................................................................................................................5
Hoofdstuk 7..................................................................................................................................................6
Hoofdstuk 8..................................................................................................................................................7
Hoofdstuk 9..................................................................................................................................................8
Hoofdstuk 10................................................................................................................................................9
Hoofdstuk 11..............................................................................................................................................10
Hoofdstuk 12..............................................................................................................................................10
Hoofdstuk 13..............................................................................................................................................11
Aantekeningen hoorcollege 2.....................................................................................................................12
Aantekeningen hoorcollege 3.....................................................................................................................13
Aantekeningen hoorcollege 4.....................................................................................................................14
Aantekeningen hoorcollege 5.....................................................................................................................16
Aantekeningen hoorcollege 6.....................................................................................................................19
Gastcollege: Smooth brothers....................................................................................................................19
Werkcollege 4.............................................................................................................................................20
Youtube uitleg relevant costs.....................................................................................................................21
Tentamentraining.......................................................................................................................................22
Hoofdstuk 1
1
,Management accounting = providing information that may be used to plan, direct, motivate and control
an organization.
Planning: Budgets (budgeting) represents the management’s plans.
Controlling: feedback -> performance report = comparing budgets to actual results.
Planning and control cycle.
Principal activities management process:
- Planning
- Decision making
- Controlling
Management accounting isn’t mandatory. It is characterized by (t.o.v. financial accounting):
- An emphasis on the future.
- Relevance and flexibility data.
- Emphasis on timeliness rather than precision.
- Focus on the segments of an organization.
Financial accounting = reporting externally, for example to the stakeholders. For example, the balance
sheet.
Management accounting = things needed to make right decisions. It is not mandatory. It’s purpose is to
make the organization function in a good way.
Influences on management accounting:
- New business processes and technologies
- Enterprise resource planning systems.
- More emphasis on business ethics
- The increased importance of service sector management
- Focus on value creation instead of just checking.
- Environmental sustainability.
2
, Hoofdstuk 2
Manufacturing costs:
- Direct materials -> raw materials = any materials that are used in the final product.
- Direct labour = labour that can be easily traced to individual units of products.
- Manufacturing overhead = all costs except direct materials and direct labour. For example:
indirect materials and indirect labour.
Prime cost = direct labour + direct materials.
Conversion cost = direct labour + manufacturing overhead.
Non-manufacturing costs:
- Marketing or selling costs = all costs made to secure customer orders.
- Administrative costs = costs associated with the general management of an organization.
Product costs -> all costs that are involved in acquiring or making a product -> direct materials, direct
labour, manufacturing overhead. Balance sheet.
Also called stock-related costs, because they go directly into inventory accounts.
Period costs -> profit and loss account. In the period they belong to.
Cost behaviour = how a cost will react or respond to changes in the level of business activity.
- Variable vs. fixed costs.
Contribution apporoach -> contribution margin = sales – variable costs.
Differential costs/incremental costs = a difference in costs between two alternatives.
Sunk costs aren’t differential -> they stay even when you choose an alternative.
Salary can be differential -> it changes when you choose an alternative (another job in this case).
Not all differential costs are opportunity costs.
Opportunity cost = the potential benefit that is given up when one alternative is selected over another.
Sunk cost = a cost that has already been incurred and that cannot be changed by any decision made now
or in the future.
3
Hoofdstuk 1..................................................................................................................................................1
Hoofdstuk 2..................................................................................................................................................3
Hoofdstuk 3..................................................................................................................................................4
Hoofdstuk 4..................................................................................................................................................5
Hoofdstuk 5..................................................................................................................................................5
Hoofdstuk 6..................................................................................................................................................5
Hoofdstuk 7..................................................................................................................................................6
Hoofdstuk 8..................................................................................................................................................7
Hoofdstuk 9..................................................................................................................................................8
Hoofdstuk 10................................................................................................................................................9
Hoofdstuk 11..............................................................................................................................................10
Hoofdstuk 12..............................................................................................................................................10
Hoofdstuk 13..............................................................................................................................................11
Aantekeningen hoorcollege 2.....................................................................................................................12
Aantekeningen hoorcollege 3.....................................................................................................................13
Aantekeningen hoorcollege 4.....................................................................................................................14
Aantekeningen hoorcollege 5.....................................................................................................................16
Aantekeningen hoorcollege 6.....................................................................................................................19
Gastcollege: Smooth brothers....................................................................................................................19
Werkcollege 4.............................................................................................................................................20
Youtube uitleg relevant costs.....................................................................................................................21
Tentamentraining.......................................................................................................................................22
Hoofdstuk 1
1
,Management accounting = providing information that may be used to plan, direct, motivate and control
an organization.
Planning: Budgets (budgeting) represents the management’s plans.
Controlling: feedback -> performance report = comparing budgets to actual results.
Planning and control cycle.
Principal activities management process:
- Planning
- Decision making
- Controlling
Management accounting isn’t mandatory. It is characterized by (t.o.v. financial accounting):
- An emphasis on the future.
- Relevance and flexibility data.
- Emphasis on timeliness rather than precision.
- Focus on the segments of an organization.
Financial accounting = reporting externally, for example to the stakeholders. For example, the balance
sheet.
Management accounting = things needed to make right decisions. It is not mandatory. It’s purpose is to
make the organization function in a good way.
Influences on management accounting:
- New business processes and technologies
- Enterprise resource planning systems.
- More emphasis on business ethics
- The increased importance of service sector management
- Focus on value creation instead of just checking.
- Environmental sustainability.
2
, Hoofdstuk 2
Manufacturing costs:
- Direct materials -> raw materials = any materials that are used in the final product.
- Direct labour = labour that can be easily traced to individual units of products.
- Manufacturing overhead = all costs except direct materials and direct labour. For example:
indirect materials and indirect labour.
Prime cost = direct labour + direct materials.
Conversion cost = direct labour + manufacturing overhead.
Non-manufacturing costs:
- Marketing or selling costs = all costs made to secure customer orders.
- Administrative costs = costs associated with the general management of an organization.
Product costs -> all costs that are involved in acquiring or making a product -> direct materials, direct
labour, manufacturing overhead. Balance sheet.
Also called stock-related costs, because they go directly into inventory accounts.
Period costs -> profit and loss account. In the period they belong to.
Cost behaviour = how a cost will react or respond to changes in the level of business activity.
- Variable vs. fixed costs.
Contribution apporoach -> contribution margin = sales – variable costs.
Differential costs/incremental costs = a difference in costs between two alternatives.
Sunk costs aren’t differential -> they stay even when you choose an alternative.
Salary can be differential -> it changes when you choose an alternative (another job in this case).
Not all differential costs are opportunity costs.
Opportunity cost = the potential benefit that is given up when one alternative is selected over another.
Sunk cost = a cost that has already been incurred and that cannot be changed by any decision made now
or in the future.
3
