ACCO 330 - CHPT 13

ACCO 330 - CHPT 13 - Chapter Thirteen The Flexible Budget...

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Blocher,Stout,Cokins,Chen, Cost Management 4e The Flexible Budget and Standard Costing: Direct Materials and Direct Labor Chapter Thirteen
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2 Blocher,Stout,Cokins,Chen, Cost Management 4e Control = set of procedures, tools, and systems organizations use to monitor activities and guide managerial actions = core performance-measurement system of the organization, including both planning and feedback components: Management Control Systems Operational Control Systems Management Accounting & Control Systems
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3 Blocher,Stout,Cokins,Chen, Cost Management 4e Components of an Operational Control System: Effectiveness: Has the organization accomplished its specified goals? Efficiency: Did the organization use resources efficiently? (Comparison of inputs to outputs—productivity) Financial Performance Measures: Standard Cost (and Revenue) Variance Analysis Nonfinancial Performance Indicators: These measures can be leading indicators (predictors) of future financial performance Evaluation Operating Performance
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4 Blocher,Stout,Cokins,Chen,
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This note was uploaded on 01/24/2011 for the course ACCO 330 taught by Professor Mastromonaco during the Fall '10 term at Concordia Canada.

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ACCO 330 - CHPT 13 - Chapter Thirteen The Flexible Budget...

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