1주차
1. Needs of management
A.
Financial accouting
Concernered with reporting financial info to external parties, such as stock
holders, creditors, and regulators.
B.
Managerial accouting
Concerned with providing info to mangers within an an organization so that
they can formulate plans , control operations, and make decisions.
i.
One of a more target of managerial accouting is ‘price’
(1. price should be greater than cost+2. Price should be
reasonalbe)
2. Assiging costs to cost objects
Ex.ceo 임금 ? 같은거
2.1 manufacturing. Cost (procduct cost와 같지는 않음.)
Direct cost (direct) +. Direct labor(direct) + manufacturing overhead (일반화하기
는 어렵지만 보통 indrect)
i.
Direct material
Raw materials that become an integral part of the product and that can be
conveniently traced directly to it.(ex. A radio installed in an automobile)
ii.
Direct labor
Those labor costs that can be easily traced to individual units of
product(ex. Wages paid to automobile assembly workers
iii.
Manufacturing overhead (only those indirect costs associated with
operating the factory are included in manufacturing overhead)
A.
Manufacturing overhead includes all manufacturing coasts except direct
material and direct labor. These costs cannot be readily traced to
finished products.
B.
Includes indirect materials that cannot be easily or conveniently traced
to specific units of products
C.
Includes indirect labor costs that cannot be easily or conveniently traced
to specific units of products
D.
Example
i.
Depreciation of manufacturing equipment, utility costs, property
taxes, insurance premiums incurred to operate a manufacturing
facility
iv.
Nonmanufacturing costs (그럼 이건 manufacturing overhead에 포함되
나?)
A.
Selling costs: costs necessary to secure the order and deliver the
product. Selling costs can be either direct or indirect costs.
B.
Administrative costs: all executive, organizational, and clerical costs. This
can be either direct or indirect costs.
3. Understanding cost classification used to prepare financial statements :
product costs(manufacturing) and period costs.(non-manufacturing)
3-1 Product costs : All the. Costs that are involved in acquiring or making a a
product
i.
‘attach’ to a unit of product as it is purchased or manufactured and
they stay attached to each unity of produdct as long as it remains in
inventory awaiting sale.
ii.
For Manufacturing companies, product costs include
-
Raw materials: includes any materials that go. Nto the. Inal
product
-
Work in process: consists of. nits of produdct that are only
partially complete and will require further work before they
are ready for sale to the customer.
-
Finished goods costs: consists of completed units of
product that have not yet. Een sold to customer.
iii.
Transfer of produdct costs
-
When direct. Materials are used in production their. Costs
are transferred from raw materials to work in process
-
Direct labor and manufacturing overhead costs are added
to work in process to convert direct materials into finished
goods.
-
Once units of product are completed, their costs are
transferred from work in process to finished goods
-
When a manufacturer sells its finished goods to customers,
the costs are transferred from finished godds to cost of
goods sold.
B&E
4. Understand cost classifications used to predict cost behavior: variable costs, fixed
costs, and mixed costs.
A.
Cost behavior: refers to how a cost will react to changes in the level of
activity
i.
Variable costs: cost that varies ,in total, in direct proportion to
change s in the level of activity
-
ii.
A variable cost per unit is constant.
Fixed costs: a cost that remains constant . in total, regardless of
chages in the level of the activity.
-
If expressed on a per unity basis, the average fixed cost per
unity varies inversely with changes in activity.
1.
Committed: long-term, cannot be significantly reduced in the
short term.
2.
Discretionary: may be altered in the short-term by current
managerial decision.
-
Relevant range: 우리가 실제로 정상적으로 운영하는 생산
량 구간.( 해당 범위 내에서 단위당 변동비 일정하다고 가
정, 고정비도 일정하다고 가정. // 즉 고정비도 관련범위 안
에서만 일정하다는 함의// 현실비용은 곡선이지만, 관련범
위 안에서는 직선으로 단순화해서 분석한다는 내용.)
iii.
Mixed costs (variable+fixed)
B.