M9-Chp-01-1A-Intro-to-Mgt-Acct-20090630

M9-Chp-01-1A-Intro-to-Mgt-Acct-20090630 - Chapter...

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1 Chapter 1- Introduction to Management Accounting. Summer, 2009. Edited June 30, 2009. Copyright © 2009, Dr. Howard Godfrey This file contains illustrative problems that will be used in the lecture to illustrate important concepts and procedures. Copyright 2009. Dr. Howard Godfrey - M9-Chp-01-1A-Intro-to-Mgt-Acct- 20090630
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Key Learning Goals 2. Why ethics are important. [8] 3. Cost-benefit & behavioral issues for an accounting system. [10] 4. Budgets and performance reports. [12] (Management by exception) 5. Accountant’s role in value-chain function. [15] 6. Functions of controllers and treasurers. [18] 7. Why accounting is important in a variety of career paths. [20] 8. Trends in management accounting. [21] 9. Ethical standards for accountants . [24] 2
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Key Learning Goals 1. Users & uses of accounting info. 3
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Starbucks-Textbook Example-Pg. 3. Read the introductory material at the start of the chapter about Starbucks. Have you been in a Starbucks? Why to people go to a Starbucks and pay more for coffee than they pay at other restaurants? If you work in a Starbucks, what do you do? 4
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Should I trade my new auto? You bought a new auto earlier this year at a cost of $20,000. You were very proud of the powerful engine, but it only gets 20 miles per gallon. Gas now costs $4.00 per gallon and you expect the price to remain there in coming years. You can trade your auto for another auto (same model and year, and same mileage) but with a smaller engine. You will have to pay $5,000 to trade your auto for the second auto which gets 25 miles per gallon. Both autos will have the same resale value next year and beyond. How many miles will you have to drive before 5
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6 Trade for more efficient auto? Cost of gas-gallon $4.00 $4.00 Miles per gallon Cost per m ile Savings per m ile Cost t o t rade Miles t o rec over c ost
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7 Trade for more efficient auto? Cost of gas-gallon $4.00 $4.00 Miles per gallon 20 25 Cost per m ile $0.20 $0.16 $0.04 $5,000 125,000 Savings per m ile Cost t o t rade Miles t o rec over c ost
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Class Activity-Textbook Example-Pg. 4. Madison Park Cafe example – bottom half of page. Cafe normally opens at 4:00 pm (Open Mon.-Fri.). Cafe can start serving lunch from 12:00 to 3:00. By adding lunch, the cook would come to work at 11:00 am, rather than his normal time of 3:00 pm. Other staff (2 waiters) would come to work at 12:00 rather than their normal time of 8
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Textbook Example-Pg. 4. Madison Park Cafe example Extra Revene Extra cost for cook Extra cost for waiters Extra cost for electricity Total Extra Costs Maximum to pay for Food 9
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Class Activity-1 This course is about making business decisions for businesses, nonprofit organizations, etc. You are going to start a new fast food
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This note was uploaded on 10/20/2009 for the course ACCT 333 taught by Professor Shirin during the Spring '09 term at École Normale Supérieure.

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M9-Chp-01-1A-Intro-to-Mgt-Acct-20090630 - Chapter...

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