COST
ACCOUNTING
FUNDAMENTALS
AGENDA
Cost Accounting Information for decision making​
Accounting systems
​Comparison of Financial Accounting and Management Accounting
Relationship of cost accounting to other fields of study
​Scope of Modern Cost Accounting
Cost Management Framework
Ethical Issues and guidelines
Presentation title
COST ACCOUNTING
INFORMATION FOR
DECISION MAKING
•
•
•
Creation of Value in Organization
Value Chain
Value-Added Activities
3
4
VALUE CHAIN
RESEARCH AND
DEVELOPMENT
PRODUCT
DESIGN
Generating and
experimenting with
ideas
Detailed planning and
engineering of
products services or
processes
MANUFACTURING
DISTRIBUTION
CUSTOMER
SERVICE
Involves acquiring,
coordinating and
assembling resources
to produce a product or
deliver a service
Delivering products or
services to customers
Providing after-sale
support to customer
ACCOUNTING SYSTEMS
Annual revenue growth
Presentation title
6
ACCOUNTING SYSTEMTS
FINANCIAL ACCOUNTING
•
•
•
Reports are directed to
external parties
Measures and records
business transactions and
provides FS that are
based on IFRS
Engage worldwide
methodologies with webenabled technologies
MANAGEMENT ACCOUNTING
•
•
Reports financial and nonfinancial information that
help managers make
decisions to fulfill the
goals of organization
Engage top-line web
services with cutting-edge
deliverables
COST ACCOUNTING
•
•
Subfield of accounting that
records, measures and
reports information about
costs
Provides information to
management and financial
accounting. It measures and
reports financial and other
information related to the
organization’s acquisition and
consumption of resources
INCORRECT
Presentation title
8
FINANCIAL ACCOUNTING
•
Reports to various interested parties
(external and internal)
FINANCIAL ACCOUNTING
•
Owners
Lenders
Tax Authorities
Reports to managers within the
organization for:
Planning
Directing and motivating
External
Controlling
Regulators
Performance evaluation
Managers -> Internal
•
•
•
•
•
•
Emphasis is on future-oriented data
needed in decision making
Relevance is emphasized
Precision of information is required
Only summarized data for the entire
organization are prepared
•
Must follow IFRS
Not mandatory
•
•
•
•
•
Emphasis on summaries of financial
consequences of past activities
Objectivity is emphasized
Timeliness of information is required
Detailed segment reports about
departments and products, customers
and employees are prepared
Neet not follow IFRS
Mandatory for external
CORRECT
Presentation title
10
FINANCIAL ACCOUNTING
•
Reports to various interested parties
(external and internal)
MANAGEMENT ACCOUNTING
•
Owners
Lenders
Tax Authorities
Reports to managers within the
organization for:
Planning
Directing and motivating
External
Controlling
Regulators
Performance evaluation
Managers -> Internal
•
•
•
•
•
•
Emphasis on summaries of financial
consequences of past activities
Objectivity is emphasized
Precision of information is required
Only summarized data for the entire
organization are prepared
•
Must follow IFRS
Mandatory for external
•
•
•
•
•
Emphasis is on future-oriented data
needed in decision making
Relevance is emphasized
Timeliness of information is required
Detailed segment reports about
departments and products, customers
and employees are prepared
Neet not follow IFRS
Not mandatory
11
Presentation title
12
SCOPE OF MODERN COST ACCOUNTING
•
Cost Assignment
•
Cost Accumulation
Presentation title
13
Presentation title
14
AREAS OF GROWTH
Q1
4.5
2.3
1.7
5.0
Q2
3.2
5.1
4.4
3.0
Q3
2.1
1.7
2.5
2.8
Q4
4.5
2.2
1.7
7.0
15
“
BUSINESS OPPORTUNITIES ARE
LIKE BUSES. THERE'S ALWAYS
ANOTHER ONE COMING.
Richard Branson
”
Presentation title
16
MEET OUR TEAM
TAKUMA HAYASHI
MIRJAM NILSSON
FLORA BERGGREN​
RAJESH SANTOSHI​
President
Chief Executive Officer
Chief Operations Officer
VP Marketing
MEET OUR EXTENDED TEAM
TAKUMA HAYASHI
MIRJAM NILSSON
FLORA BERGGREN​
RAJESH SANTOSHI​
President
Chief Executive Officer
Chief Operations Officer
VP Marketing
GRAHAM BARNES
ROWAN MURPHY
ELIZABETH MOORE
ROBIN KLINE
VP Product
SEO Strategist
Product Designer
Content Developer
17
Presentation title
18
PLAN FOR PRODUCT LAUNCH
PLANNING
MARKETING
DESIGN
STRATEGY
LAUNCH
Synergize scalable
e-commerce
Disseminate
standardized
metrics
Coordinate ebusiness
applications
Foster holistically
superior
methodologies
Deploy strategic
networks with
compelling ebusiness needs
19
AREAS OF FOCUS
B2B MARKET SCENARIOS
•
•
•
Develop winning strategies to keep
ahead of the competition
Capitalize on low-hanging fruit to
identify a ballpark value
Visualize customer directed
convergence
CLOUD-BASED OPPORTUNITIES
•
•
Iterative approaches to corporate
strategy
Establish a management framework
from the inside
Presentation title
SUMMARY
At Contoso, we believe in giving 110%. By using our nextgeneration data architecture, we help organizations virtually
manage agile workflows. We thrive because of our market
knowledge and great team behind our product. As our CEO says,
"Efficiencies will come from proactively transforming how we do
business."
20
THANK YOU
Mirjam Nilsson​
mirjam@contoso.com
www.contoso.com