Samenvatting managerial accounting
1 CHAPTER 1: THE MANAGER AND MANAGEMENT ACCOUNTING ....................................................................................... 2
1.1 STAKEHOLDERS ............................................................................................................................................................. 2
1.2 ACCOUNTING................................................................................................................................................................ 2
2 CHAPTER 2: AN INTRODUCTION TO COST TERMS AND PURPOSES..................................................................................... 3
2.1 WHAT IS A COST (EXPENSE)? ......................................................................................................................................... 3
2.2 VARIETY OF COST CLASSIFICATIONS .............................................................................................................................. 3
2.3 CALCULATION COST OF GOODS SOLD ........................................................................................................................... 4
3 CHAPTER 3: COST-VOLUME-PROFIT ANALYSIS (CVP) ......................................................................................................... 5
3.1 GRAPHS ........................................................................................................................................................................ 5
3.2 FORMULAS ................................................................................................................................................................... 5
3.3 MARGIN OF SAFETY ...................................................................................................................................................... 5
3.4 DETERMINE BREAKEVEN POINT WITH SALES MIX.......................................................................................................... 6
4 CHAPTER 4: JOB COSTING ................................................................................................................................................. 6
4.1 DIRECT VS INDIRECT COSTS ........................................................................................................................................... 6
4.2 COST POOLS AND COST ALLOCATION ............................................................................................................................ 6
4.3 TWO COSTING SYSTEMS ............................................................................................................................................... 6
4.4 NORMAL COSTING ........................................................................................................................................................ 7
5 CHAPTER 5: ACTIVITY-BASED COSTING AND ACTIVITY-BASED MANAGEMENT .................................................................. 8
5.1 HOW TO ASSIGN INDIRECT COSTS TO COST OBJECTS? ................................................................................................... 8
6 CHAPTER 6: MASTER BUDGET AND RESPONSIBILITY ......................................................................................................... 9
6.1 BUDGET ........................................................................................................................................................................ 9
7 CHAPTER 7: FLEXIBLE BUDGETS, DIRECT-COST VARIANCES AND MANAGEMENT CONTROL ............................................. 10
7.1 BUDGETED AMOUNTS < VARIANCES > ACTUALS ......................................................................................................... 10
8 CHAPTER 8: FLEXIBLE BUDGETS, OVERHEAD COST VARIANCES AND MANAGEMENT CONTROL ....................................... 11
8.1 TIME VALUE OF MONEY .............................................................................................................................................. 11
8.2 FUTURE VALUE ........................................................................................................................................................... 11
8.3 PRESENT VALUE .......................................................................................................................................................... 11
8.4 ANNUITY..................................................................................................................................................................... 11
8.5 INVESTMENT APPRAISAL TECHNIQUES ....................................................................................................................... 12
Overhead = other word for indirect
1
, 1 Chapter 1: the manager and management accounting
1.1 Stakeholders
1.1.1 Internal stakeholders
- Employees
- Manager
- Owners
1.1.2 External stakeholders
- Suppliers
- Society
- Government
- Creditors
- Shareholders
- Customers
1.2 Accounting
1.2.1 Definition
Accounting = provision of information about an organization to its stakeholders (to support them in making decisions).
Management accounting = measuring analyzing and reporting financial and non-financial information that helps
managers/employees make decisions to fulfill the goals of an organization.
1.2.2 Managerial VS financial accounting
Examples:
- Internal vs external reporting
- Continuous vs periodic provision of information
- Specification of users vs rules and regulations
- Future-oriented vs historical
1.2.3 Areas in which management accountants provide information
- Planning and controlling the organization
- Cost price calculation
- Cost allocation
- Investment appraisal
- Cost-volume-profit analysis/BEP analysis
-> information should be provided timely in the required formats
The controller is responsible for FA and MA
2
1 CHAPTER 1: THE MANAGER AND MANAGEMENT ACCOUNTING ....................................................................................... 2
1.1 STAKEHOLDERS ............................................................................................................................................................. 2
1.2 ACCOUNTING................................................................................................................................................................ 2
2 CHAPTER 2: AN INTRODUCTION TO COST TERMS AND PURPOSES..................................................................................... 3
2.1 WHAT IS A COST (EXPENSE)? ......................................................................................................................................... 3
2.2 VARIETY OF COST CLASSIFICATIONS .............................................................................................................................. 3
2.3 CALCULATION COST OF GOODS SOLD ........................................................................................................................... 4
3 CHAPTER 3: COST-VOLUME-PROFIT ANALYSIS (CVP) ......................................................................................................... 5
3.1 GRAPHS ........................................................................................................................................................................ 5
3.2 FORMULAS ................................................................................................................................................................... 5
3.3 MARGIN OF SAFETY ...................................................................................................................................................... 5
3.4 DETERMINE BREAKEVEN POINT WITH SALES MIX.......................................................................................................... 6
4 CHAPTER 4: JOB COSTING ................................................................................................................................................. 6
4.1 DIRECT VS INDIRECT COSTS ........................................................................................................................................... 6
4.2 COST POOLS AND COST ALLOCATION ............................................................................................................................ 6
4.3 TWO COSTING SYSTEMS ............................................................................................................................................... 6
4.4 NORMAL COSTING ........................................................................................................................................................ 7
5 CHAPTER 5: ACTIVITY-BASED COSTING AND ACTIVITY-BASED MANAGEMENT .................................................................. 8
5.1 HOW TO ASSIGN INDIRECT COSTS TO COST OBJECTS? ................................................................................................... 8
6 CHAPTER 6: MASTER BUDGET AND RESPONSIBILITY ......................................................................................................... 9
6.1 BUDGET ........................................................................................................................................................................ 9
7 CHAPTER 7: FLEXIBLE BUDGETS, DIRECT-COST VARIANCES AND MANAGEMENT CONTROL ............................................. 10
7.1 BUDGETED AMOUNTS < VARIANCES > ACTUALS ......................................................................................................... 10
8 CHAPTER 8: FLEXIBLE BUDGETS, OVERHEAD COST VARIANCES AND MANAGEMENT CONTROL ....................................... 11
8.1 TIME VALUE OF MONEY .............................................................................................................................................. 11
8.2 FUTURE VALUE ........................................................................................................................................................... 11
8.3 PRESENT VALUE .......................................................................................................................................................... 11
8.4 ANNUITY..................................................................................................................................................................... 11
8.5 INVESTMENT APPRAISAL TECHNIQUES ....................................................................................................................... 12
Overhead = other word for indirect
1
, 1 Chapter 1: the manager and management accounting
1.1 Stakeholders
1.1.1 Internal stakeholders
- Employees
- Manager
- Owners
1.1.2 External stakeholders
- Suppliers
- Society
- Government
- Creditors
- Shareholders
- Customers
1.2 Accounting
1.2.1 Definition
Accounting = provision of information about an organization to its stakeholders (to support them in making decisions).
Management accounting = measuring analyzing and reporting financial and non-financial information that helps
managers/employees make decisions to fulfill the goals of an organization.
1.2.2 Managerial VS financial accounting
Examples:
- Internal vs external reporting
- Continuous vs periodic provision of information
- Specification of users vs rules and regulations
- Future-oriented vs historical
1.2.3 Areas in which management accountants provide information
- Planning and controlling the organization
- Cost price calculation
- Cost allocation
- Investment appraisal
- Cost-volume-profit analysis/BEP analysis
-> information should be provided timely in the required formats
The controller is responsible for FA and MA
2
