Ch. 1 Notes - CH 1 INTRODUCTION 1 The Accountant‘s Role...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: CH 1. INTRODUCTION 1. The Accountant‘s Role in the Organization Originally cost accounting dealt basically with historical cost accumulation and tracing them to departments primarily for the purpose of inventory valuation for external financiai accounting reports, i.e. Income Statement and Balance Sheet. Modern cost accounting, however, is much more decision oriented. Thus, modern cost accounting is called management accounting: II. Financial and Management/Cost Ac'cmmting The distinction between financial and cost/mgt accounting lies in their use by: Financial Accounting u { Maw (4, 9.5;»; # CVchMJ M‘s-14,44 Wat/A as”, Mama-Mi (as) CM Jam/WC (9x “W5 m— aétct‘sg‘at/(FWQ5r {fer/Lianée’v—g gawk”; 3 0 vi Race/yak; Management/Cost Accounting — zit/(’7‘ am. a? K W}. a? ..._ (.ch w/Amu ace m shut Irma/Leas /c¢5w$’ egg . I”. ‘ car ‘ ' A #1 MEL? 4;. fire-{~wa Dwarfs; floccowty 14hr ‘Mfi W34. Maze III. Objectives of Management/Cost Accounting 1. PI‘OduCt COSting" chml'm'L/j W “35+ “'8 [’de ‘ r 5% I. lfimdtdj, W Fy¢c£5§% w f/ M: {ij aka-3,?” S; 2. Planning and Control a. Planning may be defined as ~ . - M fifilfitme A sea/€5- M W -4mw{um at a. aikm‘sfbn 7C; 92(a4q' m ‘ Md“ :1on Y B “My Mt “baa”? b. Control is . . . +6“ {W of m weed to use of 5° W m ;;:é.5 0:26: 3. Nonroutine Managerial Decisions u m gfngJK/Q dedgfopgg #3de M2 fit—0'7" M a a. .14.. I g < H I bkfls _ ._ “TIM‘S _{9~€a_rt\a&ps I; W PMSf x'riwflarw o-F (95+ Agar fluouflwwj IV. Types of Authority “( a Sfitar‘ 1. Line Authority -— M%PJW x Wk??? 7L0 have Oh fine) 2. Staff Authority . . . '4 MI'Son/ Maria/I agar/org! afi (am pfluflawflf #:‘mmu‘af amattw Ms Swat-44F maffiwih “’13 +54 6 &- “MMI'me Mae fie rc wfq’ck, V6.5 {cf 3. Functional Authori y 5+ “Z Me “1 “‘I In“; Ifl—Worifi/ Loki/L1 res/med“ +3 but 5 L I‘M ’4'“ 5%.»; ...
View Full Document

This note was uploaded on 03/03/2011 for the course ACC 359 taught by Professor Atiase during the Spring '07 term at University of Texas.

Page1 / 2

Ch. 1 Notes - CH 1 INTRODUCTION 1 The Accountant‘s Role...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online