ACC 282 Controlling Budgets (Chapter Ten) Vocabulary Study Guide
The use of budgets to control operations.
A cost over which a manager has control.
Contribution margin less controllable fixed costs.
ACC 282 ABC Costing and Allocation (Chapter Seven) Vocabulary Study
Activity- Based Costing (ABC)
a costing method that is designed to provide managers with cost information for strategic and
other decisions that potentially affect capacity and ther
ACC 282 Constraints and Costs (Chapter Eight) Vocabulary Study Guide
A phenomenon where an excessive amount of information available to a manager hinders
Meets two criteria
1) it differs between t
ACC 282 Cost Volume Profit and Formulas (Chapter Four) Vocabulary
Cost Volume Profit (CVP) Analysis
Estimates how the changes in cost/sales volume/price affect a company's product
Companies use this method to meet benchmarks like break-even po
ACC 282 Absorption Costing (Chapter Six) Vocabulary Study Guide
The costing method where products "absorb" both fixed and variable manufacturing costs
A method for determining cost behavior that is based on a manger's j
ACC 282 Costing Systems (Chapter Two) Vocabulary Study Guide
Product Costing System
An integrated set of documents, ledgers, accounts, and accounting procedures used to measure
used to measure and record the cost of manufactured products.
ACC 282 Costing Placements (Chapter Three) Vocabulary Study Guide
A costing method that includes all manufacturing costsdirect materials, direct labor, and both
variable and fixed overheadas part of the cost of a product. This term is s
ACC 282 Cash Flow (Chapter Five) Vocabulary Study Guide
Statement of changes in financial position
A statement that intends to indicate how cash inflows and outflows affect the business during a
specific accounting period.
Statement of cash flows (SCF)
ACC 282 Budgets and Variances (Chapter Nine) Vocabulary Study Guide
Used for a single, planned level of activity.
Prepared for any activity level in the relevant range, show costs that should have been incurred at
ACC 282 Introduction to Managerial Accounting (Chapter One) Vocabulary
Accounting Standards for Private Enterprises (ASPE)
Reporting guidelines appropriate for organizations that do not fit the definitions of publically
accountable. These guid