文档介绍：Chapter 18 Introduction to Managerial Accounting and Job Order Cost Systems
Chapter 18
Introduction to Managerial Accounting and Job Order Cost Systems
Accounting, 21st Edition
Warren Reeve Fess
Some of the action has been automated, so click the mouse when you see this lightning bolt in the lower right-hand corner of the screen1>. You can point and click anywhere on the screen.
1. Describe the differences between managerial and financial accounting.
2. Evaluate anizational role of management accountants.
3. Define and illustrate materials, factory labor, and factory overhead costs.
4. Describe accounting systems used by manufacturing businesses.
Objectives
After studying this chapter, you should be able to:
6. Describe and prepare summary journal entries for a job order cost accounting system.
Objectives
7. Use job order cost information for decision making.
8. Diagram the flow of costs for a service business that uses a job order cost accounting system.
The Differences Between Managerial and Financial Accounting
Financial Accounting
Managerial Accounting
Shareholders
Creditors
Government
General Public
Management
Management
Users of Accounting Information
Financial and Managerial Accounting
Financial Statements
Users:
Objective
Prepared according to GAAP
Prepared periodically
Business entity
External Users and Management
Characteristics:
Financial Accounting
Management Reports
Users:
Objective and subjective
Prepared according to management needs
Prepared periodically
or as needed
Business entity or segment
Management
Characteristics:
Managerial Accounting
Plant Manager--
Carlsbad, CA
Plant
Manager——Pro Tour Relations
Controller
Manager—Shaft
Development
anization Chart – Callaway pany
Vice-President
New Product
Development
Vice-President—
Global Sales
Vice-President—
Manufacturing
Chief Financial Officer
Chief Executive
Officer
Manufacturing Cost Terms
EXPENSE
ASSET
EXPENSE
COST
Payroll Che