25 and 26 - Presentation Deck

25 and 26 - Presentation Deck - ACC 212: PRINCIPLES OF...

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ACC 212: PRINCIPLES OF ACCOUNTING CHAPTER 25: Standard Costs and Balance Scorecard CHAPTER 26: Incremental Analysis and Capital Budgeting PRESENTATION DECK Prepared by: Jill Mitchell, Assistant Professor, NOVA Reference: Weygandt, Jerry, Kieso, and Kimmel. Accounting Principles Unless noted, illustrations are from the referenced text.
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Chapter 25/26-2 25.1.1. Distinguish between a standard and a budget. 25.1.2. Distinguish between ideal and normal standards. 25: Standard Costs and Balanced Scorecard 26: Incremental Analysis and Capital Budgeting Course Competencies 25.1. The Need for Standards 26.1. Incremental Analysis and Capital Budgeting 26.1. Identify the steps in management’s decision making process.
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Chapter 25/26-3 Standard Costs vs. Budget Standard costs : predetermined unit costs which companies use as measures of performance Both standards and budgets are predetermined costs, and both contribute to management planning and control. However, the difference is how the terms are expressed. Standard = UNIT amount
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25 and 26 - Presentation Deck - ACC 212: PRINCIPLES OF...

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