unitIntroduction to Managerial Accounting.docx

unitIntroduction to Managerial Accounting.docx

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unitIntroductiontoManagerialAccounting

unit15IntroductiontoManagerialAccounting

Unit15

IntroductiontoManagerialAccounting

ManagerialAccountingis8><#004699'>afieldofaccountingthatprovideseconomicandfinancialinformationformanagersandotherinternalusers.

<#004699'>Acompanymayuseittoanalyzepast,controlpresent,planfutureandparticipateindecision-makingforthepurposeofachievingthegoalofprofitmaximizationbasedonsoundinternalmanagement.

Ⅰ.ManagerialAccountingvsFinancialAccounting

Similarity

Eachfieldofaccountingdealswiththeeconomiceventsofanenterprise.

Forexample,cost.

Unitcostofmanufacturing<#004699'>aproduct;

Totalcostofgoodsmanufacturedandsold

Bothmanagerialaccountingandfinancialaccountingrequirethattheresultsofanentity’seconomiceventsshouldbequantifiedandbecommunicatedtointerestedparties.

Ⅰ.ManagerialAccountingvsFinancialAccounting

Internalauditwithinthebusiness

IndependentauditbyCPA

Auditing

Frequentinternalreportssuitableformanagementneeds

Generallypreparedregularlyattheendofeachaccountingperiod

Frequency

Relevantlyaccurateinformation.Timeliness,pertinence,applicabilityarestressed.

Highlycondensedinformationofcompanyas<#004699'>awhole

Information

GobeyondGAAPandmeetinternalneeds

FollowingGAAP

Principle

Specificallyforinternaldecision-makingandforecasting,etc.

Generalinformationforallusersaboutthepasthistoricaltransactions

Purposes

Internaluserssuchasmanagersandemployees.

Externalusers,suchasstockholders,creditors,customers,andregulatoryagencies

Mainusers

ManagerialAccounting

FinancialAccounting

Ⅱ.ManagerialAccountingandDecision-making

Managementaccountanthas<#004699'>awiderangeofresponsibilityinvolvingprofessionalknowledgeandskillinthepreparationandthepresentationofinformationtoalllevelsofmanagementintheorganizationstructure.

Management

accounting

Planning

Directing

Monitoring&

Controlling

Strategy

Positioning

Budgeting

Costing

Production

Special

analysis

1.Planning

Planning

Strategy

Positioning

Budgeting

Planningrequiresmanagementtolookintothefuturetoestablishobjectives.

（1）Strategy

<#004699'>Abusinessusuallyspends<#004699'>agreatdealofmanagementtimeandefforttodevelopitsstrategybecauseofitsimportance.

Specificstrategygenerallyincludedthreecategories:

mission,goal,objective.Theyarebasedoncorevalue.

Planning

Strategy

Positioning

Budgeting

Mission

Goal

Objective

Core

values

Core

values

Mission:

organization’spurposeanddirection.<#004699'>Amissionis<#004699'>averybig,long-termend-resultorachievement.

Goals:

Theyaretheendstowardwhicheffortandactionaredirectedorcoordinated.

Objectives:

Specificobjectivesmakesurestrategiesareachievedguidedandcorrectly.SMARTRule

Corevalues:

thekeyrulesthatthebusinesswillapplywithincludefairtrade,ethics,customerservice,employment,environmentalawareness,etc.

UniversityofWashingtonSchoolofPublicHealth（SPH）

Mission:

Topromotepopulationhealth,preventillness,disability,andinjury,andensureefficient,effective,andequitablehealthcaresystemsthrougheducation,research,andservice.

Goals:

Educateinnovative,effective,andculturallycompetentpublichealthresearchers,faculty,andpractitioners.

Advanceknowledgeinthepublichealthsciencesthroughresearchanddiscovery.

Contributetosoundpublichealthpoliciesandincreasetherecognitionoftheimportanceofpublichealththroughdisseminationandcommunitycollaboration.

Objectives

<#004699'>a.Educateinnovative,effective,andculturallycompetentpublichealthresearchers,faculty,andpractitioners.

RecruitandretainoutstandingfacultyintherangeofdisciplinesandspecialitiesconsistentwithSPH’smission.

Recruitgraduateandundergraduatestudentsofthehighestacademiccapabilitieswhoarecommittedtopublichealth.

Provide<#004699'>amulticulturalsettingforpublichealthlearning.

Provideexcellenteducationalprogramsandopportunities.

Applyinnovativepedagogicalmethodstoenhanceteachingandlearning.

Promotelifelonglearning.

Value:

Objectivityandprofessionalintegrityinresearch,education,andservice

Creativityandinterdisciplinaryapproachesinsolvinglocal,national,andglobalpublichealthproblems

Pursuitofknowledgetobetterunderstandhumanhealth,environmentalhealth,andtheirinterconnections

Scientificallyrigorousevaluationofevidencetoinformpublichealthrecommendations

Buildingpartnershipsbetweenacademicpublichealthandcommunitiestoimprovehumanandenvironmentalhealth

Compassion,equity,andsocialjusticeindefiningandaddressinghealth

Expandedopportunitiesforlearningbeyondtheclassroomtoindividualmentorshipandappliedexperienceinthecommunity

Educationaloutreachtothepublichealthworkforce

Respectforandinclusionofdiversevalues,beliefs,andculturesinresearchandteaching

Vigilancetorecognizeandforecastthreatstopublichealth?

XYZcompany

Mission-TomaketheXYZcompanylargestsellerofpremiumcandy

Objectives/Goals-Achieveshareofmarketleadershipinthepremiumcandysegment.

?

?

?

?

?

-Beknownasthemostexpensivecandy,butworthit.

Strategy-ConvinceconsumersthatXYZcandyisthebestpremiumcandybyassociatingwithhigh-endpeopleandentities.

（2）Positioning

Ithelpsputtheorganizationinanoptimalplacetoachieveandrealizeitsgoals.

Positioningis<#004699'>asophisticatedstepwhichwilldependonthegatheringandevaluatingaccountinginformation.

Planning

Strategy

Positioning

Budgeting

Identifying<#004699'>amarketnichefor<#004699'>abrand,productorserviceutilizingtraditionalmarketingplacementstrategies（i.e.price,promotion,distribution,packaging,andcompetition）.

（1）Cost/Volume/ProfitAnalysis

（2）Globaltradeandtransportation

（3）Branding/Pricing/Sensitivity/Competition

（3）Budgeting

Itisalso<#004699'>acriticalelement.

Itoutlinesthefinanciallimitwithinwhichanorganizationcanoperate.

Planning

Strategy

Positioning

Budgeting

弹性预算

指在成本习性分析的基础上，以业务量、成本和利润之间有规律的依存关系为依据，按照预算期可预见的各种业务量水平编制能够适应多种情况的预算方法。

Fixedbudget

<#004699'>Abudgetwhichisdesignedtoremainunchangedregardlessofthevolumeofoutputorsalesachieved.

Budgeting

Flexiblebudget

<#004699'>Abudgetwhichisdesignedtochangeasvolumesofoutputchange,byrecognizingdifferentcostbehaviorpatterns.

固定预算

指以预算期内正常的，可能实现的某一业务量（如生产量，销售量）水平为固定基础，不考虑可能发生的变动因素来编制预算的方法。

2.Directing

Directing

Costing

Production

Specialanalysis

Directinginvolvescoordinating<#004699'>acompany’sdiverseactivitiesandhumanresourcestoproduce<#004699'>asmooth-runningoperation.

（1）Costing

Managementmustknowhowmuchcostsareidentifiedandallocatedtospecificgoodsandservices.

Costingaccountingisanintegralpartofmanagementaccounting.

Itinvolves<#004699'>acomprehensivesetofprinciples,methodsandtechniquesinthedeterminationandappropriateanalysisofcoststomeettheneedsofmanagerialaccounting.

（2）Production

Managerialaccountingprovidesnumeroustoolsformanagerstouseinsupportofproductionandproductionlogistics.

（3）Analysis

Alltheaccountinginformationneedstobeanalyzedbythemanagerialaccountantstogivebetterdirectiontothebusiness.

3.Monitoring&Controlling

Monitoring&Controllingis<#004699'>aprocessofkeepingthefirmsactivitiesintherighttrack,<#004699'>ameanstocheckifthecompanymeetstheexpectedgoal.

Ⅲ.Managerialcostingconcept

Anaccountingsystemmeasurescostswhicharelaterusedfor<#004699'>anumberofpurposessuchas:

（1）profitdetermination

（2）performanceevaluation

（3）inventoryvaluation

（4）costcontrol

Itisveryessentialtounderstandwhatcostmeansandhowitcalculated.

Whatisthiscostfor?

CostissegregatedintoManufacturingCostsandnon-manufacturingcosts（Selling,AdministrationandFinancialexpenses.）Themanufacturingcostsarefurthercategorizedintodirectmaterial,directlaborandoverheads.

Costbehavior

Itreferstohow<#004699'>acostwouldrespondorreacttochangesinproduction.

FIXEDCOST:

<#004699'>Acostwhichisnotrelatedtoproductioniscalledfixedcosts.Inotherwords,itis<#004699'>acostthatremainsunchangedevenwithvariationinoutput.

VARIABLECOST

Anycostwhichvariesexactlyinproductiontothechangeinactivity（productionorsale）wouldbetermasvariablecost.

Summary

Ⅰ.ManagerialAccountingvsFinancialAccounting

Ⅱ.ManagerialAccountingandDecision-making

Ⅲ.Managerialcostingconcept

Management

accounting

Planning

Directing

Monitoring&

Controlling

Strategy

Positioning

Budgeting

Costing

Production

Special

analysis

Management

accounting

Planning

Directing

Monitoring&

Controlling

Strategy

Positioning

Budgeting

Costing

Production

Special

analysis

SMART

Specific:

Istheindicatorspecificandclear?

?

Isitconcrete?

Measurable:

Willyoubeabletocollectthenecessaryinformationforthisindicator?

?

Isthere<#004699'>asourcefortheinformationyouneed?

?

Doyouhavetheresourcestocollecttheinformationorwillitrequiretoomuchtimeandskilltodoso?

Actionable:

Wouldyoubeabletotakeaction,ifnecessary,inresponsetotheinformationthattheindicatorprovides?

?

Willtheindicatortellyouenoughtomakeaninformeddecision?

Relevant:

Willtheindicatorgiveyouinformationthatisnecessaryfordecision-makingaboutyourproject/program,orwillitgiveyouinformationt