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ADM3346 - Cost Accounting Midterm :pencil2: (Chapter 1 - The…
ADM3346 - Cost Accounting Midterm
:pencil2:
Chapter 10 - Analysis of Cost Behaviour
Chapter 1
- The Accountant's Vital Role in Decision Making
Accounting Systems
: Financial and Management Accounting
Processing any economic transaction means collecting, categorizing, summarizing and analyzing
Cost Accounting
measures and reports financial and non-financial information related to the costs of acquiring and using resources.
Cost Management
includes the activities of identifying, reporting and analyzing all costs of operations
Financial vs. Management Accounting
Financial Accounting focuses on reporting to external parties while following GAAPS and standards (IFRS/ASPE). Any business activities with Economic Substance is reported.
Management Accounting focuses on measuring, analysing and reporting financial and non-financial information to internal managers. The goal is to use the past to predict the future.
Strategy
specifies how an organization matches its own capabilities with the opportunities in the marketplace.
Value-Chain and Supply-Chain Analysis and Key Success Factors
Decision Making, Planning, and Control: The Five-Step Decision-Making Process
Key Management Accounting Guidelines and Organization Structure
Corporate Governance and Professional Ethics
Chapter 2
- An Introduction to Cost Terms and Purposes
Chapter 3
- Cost-Volume-Profit Analysis
Chapter 11- Decision Making and Relevant Information
Chapter 4 - Job Costing
Chapter 5 - Activity-Based Costing and Management
Chapter 17 - Process Costing
Chapter 18 - Spoilage, Rework, and Scrap