《西方基础会计学》PPT课件.ppt

Managerial Accounting Concepts and Principles,18,0,Describe managerial accounting and the role of managerial accounting in a business.,After studying this chapter, you should be able to:,Describe and illustrate the following costs: direct and indirect, direct materials, direct labor, factory overhead, and product and period costs.,0,Describe and illustrate the statement of cost of goods manufactured, income statement, and balance sheet for a manufacturing business.,After studying this chapter, you should be able to:,Describe the uses of managerial accounting information.,0,Describe managerial accounting and the role of managerial accounting in a business.,Objective 1,18-1,0,The Difference Between Managerial and Financial Accounting,18-1,Financial accounting information is reported in statements that are useful for persons or institutions who are “outside” or external to the organization. Management also uses these financial statements in directing current operations and planning future operations.,0,18-1,Managerial accounting information is provided to meet the specific needs of a companys management, such as historical data and subjective estimates about future decisions.,0,7,Financial Accounting,Managerial Accounting,Shareholders Creditors Government Agencies General Public Management,Management,Users of Accounting Information,Example of Users,18-1,0,8,Financial Accounting and Managerial Accounting,18-1,0,18-1,Partial Organizational Chart for Callaway Golf Company,9,0,10,18-1,0,18-1,Planning,Planning is used by management to develop the organizations objectives (goals) and to translate these objectives into courses of action.,0,18-1,Strategic planning is developing long-range courses of action to achieve goals. Long-range courses of action, called strategies, can often involve periods ranging from five to ten years.,0,18-1,Directing is the process by which managers, given their assigned level of responsibilities, run day-to-day operations.,Directing,0,18-1,Controlling, sometimes called management by exception, consists of monitoring the operating results of implemented plans and comparing the actual results with the expected results.,Controlling,0,18-1,Comparing actual results with expected results (feedback) allows management to isolate significant departures from plans for further investigation and possible remedial action.,0,18-1,Continuous process improvement is the philosophy of continually improving employees, business processes, and products.,Improving,0,Three aspects of the management process are listed below. Match each phase to the appropriate description.,18-1,17,(continued),Phase of management process,Description,_Planning a. Monitoring the operating _Controlling results of implemented plans _Continuous and comparing the actual Improvement results with expected results.,0,Example Exercise 18-1 (continued),18-1,Description,_Planning b. Rejects solving individual _Controlling problems with temporary _Continuous solutions that fail to address Improvement the root cause of the problem. c. Used by management to develop the companys objectives.,18,Phase of management process,0,For Practice: PE 18-1A, PE 18-1B,19,18-1,Aspect of management process,_Planning _Controlling _Continuous Improvement,c a b,0,Describe and illustrate the following costs: direct and indirect, direct materials, direct labor, factory overhead, and product and period costs.,Objective 2,18-2,0,18-2,Direct and Indirect Costs,Costs are often classified in terms of how they relate to an object or segment of operations, called a cost object. It may be a product, a sales territory, a department, or some activity. Costs are identified with cost objects as either direct costs or indirect costs.,0,22,18-2,0,18-2,Direct Materials Cost,The cost of any material that is an integral part of the final product is classified as a direct materials cost.,0,18-2,Direct Labor Cost,The wages of each employee who is directly involved in converting materials into the final product are classified as direct labor cost.,0,18-2,Factory Overhead Cost,Costs, other than direct materials cost and direct labor cost, that are incurred in the manufacturing process are combined and classified as factory overhead cost (sometimes also called manufacturing overhead or factory burden).,0,18-2,Examples of Factory Overhead Cost,Heating and lighting the factory Repairing and maintaining factory equipment Property taxes Insurance Depreciation of factory plant and equipment,0,Identify the following costs as (a) direct materials, (b) direct labor, or (c) factory overhead for a baseball glove manufacturer.,18-2,27,_ Leather used to make a baseball glove _ Coolants for machines that sew baseball gloves _ Wages of assembly line employees _ Ink used to print a players autograph on the baseball glove,0,Identify the following costs as (a) direct materials, (b) direct labor, or (c) factory overhead for a baseball glove manufacturer.,18-2,28,_ Leather used to make a baseball glove _ Coolants for machines that sew baseball gloves _ Wages of assembly line employees _ Ink used to print a players autograph on the baseball glove,For Practice: PE 18-2A, PE 18-2B,(a) Direct materials,(c) Factory overhead,(b) Direct labor,(c) Factory overhead,Left click mouse for answers.,0,29,18-2,Prime Costs and Conversion Costs,0,30,18-2,0,Identify the following costs as a (a) prime cost, (b) conversion cost, or (c) both for a baseball glove manufacturer.,18-2,31,_ Leather used to make a baseball glove _ Coolants for machines that sew baseball gloves _ Wages of assembly line employees _ Ink used to print a players autograph on the baseball glove,0,For Practice: PE 18-3A, PE 18-3B,32,18-2,Identify the following costs as a (a) prime cost, (b) conversion cost, or (c) both for a baseball glove manufacturer.,_ Leather used to make a baseball glove _ Coolants for machines that sew baseball gloves _ Wages of assembly line employees _ Ink used to print a players autograph on the baseball glove,(a) Prime cost,(b) Conversion cost,(c) Both,(b) Conversion cost,Left click mouse for answers.,0,18-2,Product Costs,Product costs consist of the three elements of manufacturing cost: direct materials, direct labor, and factory overhead.,0,34,Factory Overhead,Direct Materials,Direct Labor,Product Costs,The cost of materials that are an integral part of the product.,The cost of labor directly involved in converting material into the product.,Manufacturing costs other than direct materials and direct labor.,18-2,0,18-2,Period costs are generally classified into two categories:,Period Costs,Selling expenses are incurred in marketing the product and delivering the sold product to the customer. Administrative expenses are incurred in the administration of the business.,0,36,18-2,(Continued),0,37,18-2,(Concluded),0,38,18-2,Product Costs and Period Costs,0,Identify the following costs as a (a) product cost, or (b) period cost for a baseball glove manufacturer.,18-2,39,_ Leather used to make a baseball glove _ Cost of endorsement from a professional baseball player _ Office supplies used at the company headquarters _ Ink used to print a players autograph on the baseball glove,0,For Practice: PE 18-4A, PE 18-4B,40,18-2,Identify the following costs as a (a) product cost, or (b) period cost for a baseball glove manufacturer.,(a) Product cost,(b) Period cost,(b) Period cost,(a) Product cost,_ Leather used to make a baseball glove _ Cost of endorsement from a professional baseball player _ Office supplies used at the company headquarters _ Ink used to print a players autograph on the baseball glove,Left click the mouse to reveal answers.,0,Describe and illustrate the statement of cost of goods manufactured, income statement, and balance sheet for a manufacturing business.,Objective 3,18-3,0,18-3,A Manufacturing Firms Inventories,Materials inventory:,Sometimes called raw materials inventory Consists of the costs of the direct and indirect materials that have not yet entered the manufacturing process,0,18-3,Work in process inventory:,Consists of the direct materials costs, the direct labor costs, and the factory overhead costs that have entered the manufacturing process but are associated with products that have not been completed.,0,44,18-3,Finished goods inventory:,Consists of completed (or finished) products that have not been sold.,0,45,18-3,Balance Sheet Presentation of Inventory in Manufacturing and Merchandising Companies,0,46,18-3,Flow of Manufacturing Costs,0,47,18-3,Determining the Cost of Goods Manufactured,Materials inventory, January 1, 2008 $ 65,000 Add: Materials purchased during December 100,000 Cost of materials available for use $165,000 Less: Materials inventory, Dec. 31, 2008 35,000 Cost of materials placed in production $130,000,STEP 1:,0,48,18-3,Determining the Cost of Goods Manufactured,Cost of materials placed in production $130,000,from Step 1,STEP 2:,0,18-3,Determining the Cost of Goods Manufactured,Cost of materials used during the year $130,000 Direct labor 110,000,Factory overhead 44,000 Total manufacturing costs added $284,000,STEP 2:,49,0,50,18-3,Determining the Cost of Goods Manufactured,Work in process inventory, Jan. 1, 2008 $ 30,000 Add: total manufacturing costs added 284,000,STEP 3:,0,51,18-3,Determining the Cost of Goods Manufactured,Work in process inventory, Jan. 1, 2008 $ 30,000 Add: total manufacturing costs added 284,000 Total manufacturing costs $314,000,Less: work in process inven., Dec. 31, 2008 24,000 Cost of goods manufactured $290,000,STEP 3:,0,52,18-3,Manufacturing Company Income Statement with Statement of Cost of Goods Manufactured (contd),to income statement,0,Manufacturing Company Income Statement with Statement of Cost of Goods Manufactured,from statement of cost of goods manufactured,53,18-3,0,Gauntlet Company has the following information for January:,18-3,54,Cost of materials placed in production $25,000 Direct labor 35,000 Factory overhead 20,000 Work in process inventory, January 1 30,000 Work in process inventory, January 31 25,000 Finished goods inventory, January 1 15,000 Finished goods inventory, January 31 12,000,For January, determine the (a) cost of goods manufactured, and (b) cost of goods sold.,0,55,18-3,(a),Work in process inventory, January 1 $ 3