cornerstones chp1 - Chapter 1 Managerial Accounting...

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May 26, 2011 Accounting 2102 1 Chapter 1 Managerial Accounting Concepts and Decision-Making Support
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May 26, 2011 Accounting 2102 2 What is managerial accounting? Provides information for planning controlling decision making Comparison to financial accounting Financial Accounting Managerial Accounting external users internal users external rules no rules objective information objective and subjective information focus on past focus on future narrow and self-contained broad and multidisciplinary
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May 26, 2011 Accounting 2102 3 Where do we start? Types of companies merchandising, manufacturing, service Financial goal of for profit companies What determines a company’s profit? Define revenue. Define expense. The financial accounting system accumulates costs. The managerial accounting system assigns costs.
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May 26, 2011 Accounting 2102 4 How do we assign costs? Determine our cost object . Categorize costs as
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This note was uploaded on 05/26/2011 for the course ACCT 2102 taught by Professor Farmer during the Spring '08 term at University of Georgia Athens.

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cornerstones chp1 - Chapter 1 Managerial Accounting...

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