KnowledgeInventory_Week2

Become familiar with these concepts before coming to

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Unformatted text preview: Become familiar with these concepts before coming to class by reading the textbook. The decision determines what costs are relevant Understanding cost behavior is crucial in knowing what costs are relevant Measuring cost is crucial to making good decisions The firm’s business model determines the appropriate accounting system Indirect costs must be allocated to units (because they can’t be traced directly) Because timely information is important, estimated overhead rates are often used to allocate overhead cost Applied Concepts: Being able to apply concepts means that you can identify what concepts are useful for addressing a particular issue, identify relevant information, and construct an analysis. In short, you should be able to use the concepts to analyze business situations that you have not encountered before. Language Review Homework problems 2-32 3-16 The decision determines what costs are relevant In-class problems 2-17 Homework problems 2-43 Understanding cost behavior is crucial in knowing what costs are relevant In-class problems 2-33 2-39 Homework problems 2-34 2-44 Measuring cost is crucial in making good decisions In-class problems 3-43 Homework problems 3-17 The firm’s business model determines the appropriate accounting system In-class problems 3-1 Homework problems 3-36 3-37 6A:002 Knowledge Inventory – Week 2 Spring 2010 Page 3 Indirect costs must be allocated to units (because they can’t be traced directly) In-class problems 3-18 3-31 Homework problems 2-45 3-2 3-40 3-41 Because timely information is important, estimated overhead rates are often used to allocate overhead cost In-class problems 3-13 3-25 3-34 Homework problems 3-10 3-11 3-12 3-26 3-39 3-42...
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This note was uploaded on 09/29/2011 for the course 06A 002 taught by Professor Stuff during the Spring '11 term at University of Iowa.

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