Accounting chapters 5 12 the definition of a

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Unformatted text preview: ice decision making Responsibility Accounting (Chapters 5-12) • The definition of a responsibility center, the different types of responsibility centers, and the basis for choosing the most appropriate type • The definition of a transfer price and its role in a responsibility accounting system • The phases of the management control process and the characteristics of each • The formal techniques used to asses the financial viability of a capital investment proposal • The special considerations faced by nonprofit and public sector organizations in capital budgeting • The key elements of a good operational budgeting process, including its relationship to responsibility centers • The distinction among the capital budget, the operating budget, and the cash budget. • The considerations involved in preparing a cash budget • The meaning of the term “flexible budget” and its role in a responsibility accounting system • The technique of variance analysis, its uses and limitations, and the relationship between it and management reporting • Some of the issues involved in measuring non-financial performance • The linkages among the responsibility accounting system and other organizational activities, including the organization’s strategy formulation process ___________________________________________________________________________________...
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