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ACCT 521 ACCT521 ACCT/521 MODULE 6 – CHAPTER 12 & 13

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ACCT 521 ACCT521 ACCT/521 MODULE 6 – CHAPTER 12 & 13

MODULE 6 – CHAPTER 12 & 13 CHAPTER 12 – FUNDAMENTALS OF MANAGEMENT CONTROL SYSTEMS Why a Management Control System? Alignment of Managerial and Organizational Interests

The purpose of the management control system is to align more closely the interests of the manager and the interests of the organization Decentralized Organizations

Decentralization: the delegation of decision-making authority to subordinates in the organization’s name

When authority is decentralized, a superior, whom we call a principal, delegates duties to a subordinate, whom we call agent

Principal-agent relationship: relationship between a superior (principal) and subordinate (agent)

A major role of the management control system is to measure the performance of agents Why Decentralize the Organization?

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ACCT 521 ACCT521 ACCT/521 MODULE 6 – CHAPTER 12 & 13

MODULE 6 – CHAPTER 12 & 13 CHAPTER 12 – FUNDAMENTALS OF MANAGEMENT CONTROL SYSTEMS Why a Management Control System? Alignment of Managerial and Organizational Interests

The purpose of the management control system is to align more closely the interests of the manager and the interests of the organization Decentralized Organizations

Decentralization: the delegation of decision-making authority to subordinates in the organization’s name

When authority is decentralized, a superior, whom we call a principal, delegates duties to a subordinate, whom we call agent

Principal-agent relationship: relationship between a superior (principal) and subordinate (agent)

A major role of the management control system is to measure the performance of agents Why Decentralize the Organization?

Some organizations are very centralized: few decisions are delegated

oCentralized: those organizations in which decisions are made by a relatively few individuals in the high ranks of the organization

oSmall businesses are examples of this

Others are highly decentralized

oOrganizations in which decisions are spread among relativelymany divisional and departmental managers

Local knowledge: information about local conditions, markets, regulations, and so on Advantages of Decentralization

Better use of local knowledge: by delegating decision-making authority to local mangers, top managers are delegating decision making to the managers more likely to possess this local knowledge
Faster response: local managers can react to a changing environment more quickly than top management oWith centralized decision making, delays occur while information is transmitted to decision makers
Wiser use of top management’s time: delegation of many decisionsallows top managers to focus on strategic decisions
Reduction of problems to manageable size: by dividing large problems into smaller more manageable parts, decentralization reduces the complexity of problems
Training, evaluation, and motivation of local managers: decentralization allows mangers to receive on-the-job training in decision making
Disadvantages of Decentralization
Local managers can make decisions that are not in the best interest of the organization’s top managers and owner Decentralized companies incur the cost of monitoring and controlling the activities of local managers
Dysfunctional decision making: the situation in which local managers make decisions in their interests, which can differ from those of the organization
A second cost of decentralization is administrative duplication
A third cost is the possibility of poor decisions based on incomplete information
oMany decisions made at the local level also affect other parts of the firm
The optimal level of decentralization is not static; it will change as the organization and environment change Framework for Evaluating Management Control Systems
Once an organization has decided to decentralize, it is important to

ACCT 521 ACCT521 ACCT/521 MODULE 6 – CHAPTER 12 & 13

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ACCT 521 ACCT521 ACCT/521 MODULE 6 – CHAPTER 12 & 13

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ACCT 521 ACCT521 ACCT/521 MODULE 6 – CHAPTER 12 & 13

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ACCT 521 ACCT521 ACCT/521 MODULE 6 – CHAPTER 12 & 13

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ACCT 521 ACCT521 ACCT/521 MODULE 6 – CHAPTER 12 & 13

ACCT 521 – Spring 2014 Register Now MODULE 4 – COST.docx Textbook Exercises Fundamentals of Cost Accounting image Fundamentals of Cost Accounting Ch 1, Section CDMD Cost Data for Managerial Decisions,

Exercise 1Ch 1, Section CDMD Cost Data for Managerial Decisions, Exercise 1Fundamentals of Cost Accounting Ch 2, Section HCFS How Costs Flow through the Statements, Exercise 1Income statement is made to get the operating profit of the year. For this purpose the cost of…

Fundamentals of Cost Accounting Ch 3, Section CVPA Cost-Volume-Profit Analysis, Exercise 1Calculation of the operating profit: It is calculated by total variable and fixed cost from the…Fundamentals of Cost Accounting Ch 4, Section DA Differential Analysis, Exercise 1

Calculation of the effect of the decision on the company’s operating profit: It is determined…Fundamentals of Cost Accounting Ch 5, Section WMECB What Methods Are Used to Estimate Cost Behavior?, Exercise 1The total variable cost is calculated by adding all the variable costs.

Calculate the average fixed…Fundamentals of Cost Accounting Ch 6, Section CPCPI Costing in a Single Product, Continuous Process Industry, Exercise 1The production of barrels started with 8,000 units and 8,000 units are in the finished goods. It…Fundamentals of Cost Accounting Ch 7, Section CCJ Computing the Cost of a Job,

Exercise 1Global explanation: Direct materials is debited to increase the materials balance since the…Fundamentals of Cost Accounting Ch 8, Section RTPCR Reporting This Information to Managers:

ACCT 521 ACCT521 ACCT/521 MODULE 6 – CHAPTER 12 & 13

The Production Cost Report, Exercise 1The equivalent unit of ending work-in-process ending inventory is calculated by multiplying the…Fundamentals of Cost Accounting Ch 9, Section RPCDM Reported Product Costs and Decision Making, Exercise 1In the given question, the manufacturing overhead has been increased by $100,800.

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ACCT 521 ACCT521 ACCT/521 MODULE 6 – CHAPTER 12 & 13

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