User:Jukeboksi/BBA studies/Accounting: Difference between revisions
→Managerial Accounting: rearranging as per teachers revamping of course schedule
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* [[w:Direct materials cost|Direct materials cost]] + [[w:direct labor cost|direct labor cost]] + [[w:manufacturing overhead|manufacturing overhead]] -> [[w:work in progress|work in progress]] -> [[w:finished goods|finished goods]] -> [[w:cost of goods sold|cost of goods sold]] | * [[w:Direct materials cost|Direct materials cost]] + [[w:direct labor cost|direct labor cost]] + [[w:manufacturing overhead|manufacturing overhead]] -> [[w:work in progress|work in progress]] -> [[w:finished goods|finished goods]] -> [[w:cost of goods sold|cost of goods sold]] | ||
=== Lesson 3 Activity based costing === | |||
=== Lesson 3 Cost-volume-profit analysis === | |||
'''[[w:Cost–volume–profit analysis|Cost–volume–profit analysis]]''' ('''CVP'''), in [[w:managerial economics|managerial economics]], is a form of [[w:cost accounting|cost accounting]]. It is a simplified model, useful for elementary instruction and for short-run decisions. ( Wikipedia ) | |||
=== Lesson 4 Master budgets and operational budgets === | |||
* A '''[[w:budget|budget]]''' is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. ( Wikipedia ) | |||
'''Budget types''' | |||
* '''Sales budget''' – an estimate of future sales, often broken down into both units and currency. It is used to create company sales goals. | |||
* '''[[w:Production budget|Production budget]]''' - an estimate of the number of units that must be manufactured to meet the sales goals. The production budget also estimates the various costs involved with manufacturing those units, including labor and material. Created by product oriented companies. | |||
* '''[[w:Capital budget|Capital budget]]''' - used to determine whether an organization's long term investments such as new machinery, replacement machinery, new plants, new products, and research development projects are worth pursuing. | |||
* '''Cash flow/cash budget''' – a prediction of future cash receipts and expenditures for a particular time period. It usually covers a period in the short term future. The cash flow budget helps the business determine when income will be sufficient to cover expenses and when the company will need to seek outside financing. | |||
* '''Marketing budget''' – an estimate of the funds needed for promotion, advertising, and public relations in order to market the product or service. | |||
* '''Project budget''' – a prediction of the costs associated with a particular company project. These costs include labour, materials, and other related expenses. The project budget is often broken down into specific tasks, with task budgets assigned to each. A cost estimate is used to establish a project budget. | |||
* '''Revenue budget''' – consists of revenue receipts of government and the expenditure met from these revenues. Tax revenues are made up of taxes and other duties that the government levies. | |||
* '''Expenditure budget''' – includes spending data items. ( Wikipedia ) | |||
=== Lesson 5 Activity based costing === | |||
Recap | Recap | ||
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* '''[[w:Sensitivity analysis|Sensitivity analysis]]''' is the study of how the [[w:uncertainty|uncertainty]] in the output of a [[w:mathematical model|mathematical model]] or system (numerical or otherwise) can be apportioned to different sources of [[w:uncertainty|uncertainty]] in its inputs. ( Wikipedia ) | * '''[[w:Sensitivity analysis|Sensitivity analysis]]''' is the study of how the [[w:uncertainty|uncertainty]] in the output of a [[w:mathematical model|mathematical model]] or system (numerical or otherwise) can be apportioned to different sources of [[w:uncertainty|uncertainty]] in its inputs. ( Wikipedia ) | ||
=== Lesson 6 NO LESSON === | === Lesson 6 NO LESSON === | ||