Major determining factor of whether a segment is a
Profit center
Cost center
Managements objective / rationale
Managements behavior
21 Managerial Accounting is about . .
Allocation guidance
Allocation criteria
Allocation sequence
22 Managerial Accounting is about . .
Allocation sequence (continued)
Support operations cost centers allocate to
Other support operations cost centers
Production stage cost centers
Profit centers
Production stage cost centers allocate to
Other production stage cost centers
Profit centers
GA and Financing cost centers do not allocate to
Other non-production cost centers
Profit centers.
23 Managerial Accounting is about . .
Allocation comments
Ultimately all cost centers are allocated to the profit centers
Maintain a separation of product costs from period expenses
G A and Financing do not go to production focused cost centers
24 Managerial Accounting is about . .
Reporting specified
Format
Content
Profit measurement points three
Breakeven measurement points three
Production units three
Allocation detail
Quantities
25 Reporting Per unit of production Revenue Direct production expenses Indirect production expenses Production profit GA expenses Operating profit Financing expenses Net income Production cost breakeven Operating cost breakeven Total cost breakeven 26 Managerial Accounting is about . .
Reporting specified
Doesnt prohibit other reporting as desired
Separation of production and non-production expenses
Separation of production, GA and financing costs
27 Financial Standards Training Focus
Managerial accounting training objectives
Conceptual understanding
Apply the concepts to the specification of a managerial accounting structure for the participants operation(s)
Workshop approach
Gets the participant to the point of implementation
28 Impediments to Implementation
Tools to facilitate the employment of managerial accounting (how)
Accounting knowledge (how)
Defined implementation process (how)
Human resource to handle ongoing activities while pursuing this much change (how)
Full appreciation for the value of the knowledge that results (why)
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