Task Team of FUNdAMENTAL aCCOUNTING Lesson notes Lesson 14 Managerial Accounting: Applications Learning objectives 1. Describe segmented reporting and responsibility accounting system
Outline Segmented Reporting and Responsibility Accounting System Cost- Volume-Profit- Analysis Budgeting and Budgetary Control Standard Costs and Variance Analysis Managerial Decision Making Task Team of
1. In the following choice, which is not the principle of accounting sytems? A. Cost-effective balance C. Internal control B. Effective reporting D. Conservation
Lesson 6 Accounting for Merchandising Activities Exercise Calculation and Analysis Problems 1. OSu Co. is an office-supply store. The company uses a perpetual inventory system, records purchases at net cost, and records sales revenue at full invoice price. Record the following transactions in the company's general journal
Organizational Control Managers must monitor evaluate Are we efficiently converting inputs into outputs? Must accurately measure units of inputs and outputs. Is product quality improving e Are we competitive with other firms? Are employees responsive to customers? customer service is increasingly important. Are our managers innovative in outlook? Does the control system encourage risk-taking
Designing organizational structure Organizing the process by which managers establish working relationships among employees to achieve goals. Organizational Structure: formal system of task& reporting relationships showing how workers use resources
1. Model of Communication System Noise Source Sink T Channel T: Transformation Source, sink, and channel are given beforehand Transformation to match the source with the channel
