M10-Chp-01-1-Intro-to-Mgt-Acct-2010-0518

M10-Chp-01-1-Intro-to-Mgt-Acct-2010-0518 - Chapter1...

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1 Chapter 1-  Introduction to Management  Accounting. Summer, 2010. Edited May 18, 2010. Copyright © 2010, Dr. Howard Godfrey This file contains illustrative  problems that will be used in the  lecture to illustrate important  concepts and procedures. Copyright 2010. Dr. Howard Godfrey -  M10-Chp-01-1-Intro-to-Mgt-Acct-2010- 0518
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  Chapter 1: Managerial Accounting and the Business Environment. (1) globalization, (2) strategy, (3) organizational structure, (4) process management, (5) importance of ethics in business, (6) corporate governance, (7) enterprise risk management, (8) corporate social responsibility, and (9) Certified Management Accountant .
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  Managerial Accounting and the Business  Environment After studying Chapter 1, you should be able to: Understand role of management accountants in an  organization. Understand basic concepts underlying Lean  Production, the Theory of Constraints (TOC), and Six Sigma. Understand the importance of ethical standards. Note from instructor – the concepts  above are  about the big picture. In this slide presentation,  we will go ahead and solve a number of  problems that are typically faced by businesses.  
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    [Amount $000] 2008 2009 2008 2009 Revenue $900 $900 $900 $700 Expenses 800 800 600 800 Net income $100 $100 $300 ($100) How do we use accounting data to manage a business better? Company A Company B Which Co. is doing better?
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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-Starting a new restaurant Park Café  will be open nightly, Monday- Friday. Cafe will serve dinner (only) from 5:00 to  9:00.   Dinner price will be $10.00 each. Expect to sell 100 dinners per night.
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This note was uploaded on 09/14/2010 for the course LBST 2214 taught by Professor Ds during the Spring '08 term at UNC Charlotte.

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M10-Chp-01-1-Intro-to-Mgt-Acct-2010-0518 - Chapter1...

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