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1、2022/9/201Paper F2Management Accounting2022/9/202Lecturer Name: 吉伟莉Mobile Phone: Email: To find more about ACCA and Paper F2, pls visit the website: 中国会计视野 Suggestions.Follow three steps:Step 1: Prepare (before class)Skim-read through Study Text chapters, check new words in your dictionaryStep 2: At

2、tend all sessionsTake brief notes(Dont copy slides word by word, just mark key points on your textbook)Step 3: Review (after class)Read through detailed contents, attempt all quick quiz and questions from Question Bank and Practice & Revision Kit.2022/9/20Ji Weili, JXUFE3Requirements.2022/9/20Ji Wei

3、li, JXUFE4Daily attendance registerHome study -Home study is vital for this paper-Reading assignment required-Question practice essentialDont be Late & Switch off Mobile PhonesStudents will be expected to undertake their own study and to take responsibility for their own learning es. Make an effort

4、not to get behind in this course. Each new topic builds upon concepts covered in the previous topics. Hence, if you do not keep up on a weekly basis you will find it difficult at the end of the semester.2022/9/20Ji Weili, JXUFE5Assumed knowledgeSome key issues:Whats accounting?Who are the users of a

5、ccounting information?2022/9/20Ji Weili, JXUFE6Whats Accounting?2022/9/20Ji Weili, JXUFE7IdentifiesRecordsCommunicatesRelevantReliableComparableAccountingis asystem thatinformation that isto help users make better decisions.Users of Accounting Information2022/9/20Ji Weili, JXUFE8Management Accountin

6、g is aimed at Internal UsersFinancial Accounting is aimed at External UsersManagersOfficersInternal AuditorsLendersShareholdersGovernmentLabor UnionsExternal AuditorsCustomersAims of this course.To develop knowledge and understanding of providing basic management information in a organization to sup

7、port management in planning and decision-making.2022/9/20Ji Weili, JXUFE9Syllabus structure2022/9/20Ji Weili, JXUFE10APM(P5)PM(F5)MA(F2)FM(F9)AB(F1)2022/9/20Ji Weili, JXUFE112022/9/2012Chapter 1Accounting for management Chapter Preview2022/9/20Ji Weili, JXUFE13Role of management accounting functionD

8、ata & informationInformation for planningAccounting for managementInformation for controlInformation for decision makingComparison with financial accountingQualities1 InformationData and informationData is the RAW MATERIALInformation is the PROCESSED DATA Qualities of good information Types of infor

9、mation-Financial or non-financial 2022/9/20Ji Weili, JXUFE142022/9/20Ji Weili, JXUFE15Good informationrelevantcompleteQualities of Good Informationclearaccurateinspire confidenceappropriately communicatedtimelymanageable volumecost/benefit 2 Planning, control and decision makingPlanning Long term st

10、rategies Short term targetsControl Performance of the organisation Review corporate planDecision making autonomy of managers2022/9/20Ji Weili, JXUFE162022/9/20Ji Weili, JXUFE172 Planning, control and decision makingThe role of the MA information system is to provide information that assists managers

11、 in the following tasks:Planning: setting objectives and/or devising strategies to achieve these objectives;MA information required: estimated financial consequences (return) of each proposed objective, estimated cost of various strategies etc 2022/9/20Ji Weili, JXUFE182 Planning, control and decisi

12、on makingObjectives of profit making organization and non-profit making organizationLong-term and short-term planningPlanning hierarchy2022/9/20Ji Weili, JXUFE192022/9/20Ji Weili, JXUFE20SchoolProfit-making businessObjectiveTo provide a high quality of education, so that within 5 years, 95% of pupil

13、s achieve grades A or B in their final examinationTo achieve a 20% return on capital every year.To increase earnings per share by 10% every year for the next 5 yearsStrategic plans(1)Reduce class size.Raise new funds to invest 1 million in new equipment and facilities.Attract the highest quality of

14、teacher by paying good salariesCut cost by 15% in domestic markets.Expand into markets in Asia.Increase domestic market share by 10% in the next 5 years.2022/9/20Ji Weili, JXUFE21SchoolProfit-making businessTactical plans(2)Set a target for this year for examination results.Increase the number of te

15、acher by 10% by the end of the year.Plan the launch of a fund-raising campaign.Carry out a cost reduction program next year.Establish business relationships with customers in Asia and carry out market research.To increase the size of the work force in order to improve total salesOperational plans(3)

16、Prepare teaching schedules for next term.Monitor the marks gained by students in mock examination.Provide whiteboard training to teaching staff.To obtain prices from more than one supplier before purchasing materials.Offering a bulk purchase discount of 10% to a major customer.Different objectiveNon

17、-profit making firmProfit making firmProvide goods/servicesMaximise profit/shareholder wealthMinimise costsMinimise costsUse resources efficientlyMaximise revenueSatisfaction of donorIncrease market shareProviding best quality2022/9/20Ji Weili, JXUFE222 Planning, control and decision makingControl:

18、managing the organisations activities to ensure that the objectives are achieved;MA information required: financial performance, efficiency, product/service quality, effectiveness of each department within the organisation, benchmarking data 2022/9/20Ji Weili, JXUFE23 2 Planning, control and decisio

19、n makingThere are two stages in the control processComparingAdjustingThe relationship of CONTROL and PALNNINGEffective control is therefore not practical without planning, and planning without control is pointless.2022/9/20Ji Weili, JXUFE242 Planning, control and decision makingDecision-making: mana

20、gers are often required to make a range of (rational?) decisions including pricing, outsourcing, capital investments etc.MA information required: product/service cost, return of investment alternatives, customer profitability analysis2022/9/20Ji Weili, JXUFE252 Planning, control and decision makingM

21、anagement is decision making. Why?Decision making process ANTHONYS VIEW OF MANAGEMENT ACTIVITYThere are three types of management activity: strategic planning, management control and operational controlNot separatedMANAGEMENT CONTROL SYSTEMThe basic elements of MCS2022/9/20Ji Weili, JXUFE263 Financi

22、al accounting and cost and management accounting2022/9/20Ji Weili, JXUFE27FinancialaccountingManagementAccountingCostAccountingDefined, periodic reportsObjective&verifiableHistoricalObjectivityreliabilityInfinite/customisedreportsPresent &FutureFocusRelevance&TimelinessComparison of MA and FAFinancial accountingManagement accountingLegal requirementUsersExternal and internalInternal PrecisionTrue and fairAs accurate as possible for the users needsRulesGAAPNo rules govern them but some established techniques usedReportingPast datePast and pre