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ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

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ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

MODULE 1CH 1. – Information for Decision Making

Value Creation in Organizations Why Start with Value Creation?

Cost accounting goal: to assist managers in achieving the maximum value for their organizations oMeasuring the effects of decisions on the value of organizations is one of the fundamental services of cost accounting

As providers of information (accountants) or as the users of information (managers), we must understand how the informationcan and will be used to increase value

What accounting systems can help us accomplish this? Value Chain

Description

ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

MODULE 1CH 1. – Information for Decision Making

Value Creation in Organizations Why Start with Value Creation?

Cost accounting goal: to assist managers in achieving the maximum value for their organizations oMeasuring the effects of decisions on the value of organizations is one of the fundamental services of cost accounting

As providers of information (accountants) or as the users of information (managers), we must understand how the informationcan and will be used to increase value

What accounting systems can help us accomplish this? Value Chain

Value Chain: a set of activities that transforms raw resources into the goods and services end users (households, etc.) purchase and consume. oIncludes the treatment/disposal of any waste generated by the end users

Example: value chain of gasoline oSearch and drilling for oil

refining oil to gasoline

distribution of gasoline to retail outlets

treatment of the emissions produced by automobiles, or the waste oil recycled at a service station

Will focus on the part of the value chain that compromises the activities of a single organization (a firm, for example).

Important objective is that entire value chain is as efficient as possible.

oFirm must coordinate with vendors, suppliers, distributors, and customers for this

The value-added activities that the firms in the chain perform are those that the customers perceive as adding utility to the goods orservices they purchase.

Value chain:

oResearch and development

oProduction process

oCustomer service

Manager’s evaluate these activities to determine how they contribute to the final product’s service, quality, and cost Components of a value chain can overlap and are not necessarly sequential

Before product ideas are formulated, no value exists
Once an idea is established, value is created
When R&D of a product begins, value increases
Each component adds value to the product or service Supply Chain and Distribution Chain
Firms buy resources from suppliers (other companies, employees, and so on).
These suppliers form the supply chain for the firm
Firms also sell their products to distributors and customers
This is the distribution chain of the firm
Will also consider the companies and individuals supplying to or buying from a firm and the effect o the firm’s decisions on these suppliers and customers
oThese suppliers and customers are the firm’s boundaries
oThus, supply chain and distribution chain are parts of the value chain outside the firm
Value chain is important because it creates the value for which thecustomer is willing to pay
Firm must decide where in the value chain a value-added component is performed most cost effectively Using Cost Information to Increase Value
How can cost information add value to the organization

ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

ACCT 521 COST ACCOUNTING School: Liberty University *Professor:Leah Lane, Atnhony Faiella, DR.HANN, ULLMER,B, Dr.Higgetts, MelanieH… Documents (367) Q&A (127) Textbook Exercises (20+) Most important docs of the week 7 pagesREFORMATION OF INSTRUMENTSREFORMATION OF INSTRUMENTS Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now REFORMATION OF INSTRUMENTS 17 pagesLanen HW ch10-11Lanen HW ch10-11 Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now Lanen HW ch10-11 47 pages331752071-Audit-Prob-Cash-and-Cash-Equivalents.docx331752071-Audit-Prob-Cash-and-Cash-Equivalents.docx Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now 331752071-Audit-Prob-Cash-and-Cash-Equivalents.docx 143 pagesLanen–Fundamentals of Cost Accounting 4eLanen–Fundamentals of Cost Accounting 4e Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now Lanen–Fundamentals of Cost Accounting 4e 2 pagesrizalrizal Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now rizal COST ACCOUNTING Documents All (367) Assignments (1) Essays (71) Homework Help (62) Lab Reports (1) Notes (22) Test Prep (5) Showing 1 to 30 of 367 Sort by: Most Popular 11 pagesACCT 521 exam 1 study guide .docxACCT 521 exam 1 study guide .docx Liberty University COST ACCOUNTING

ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

ACCT 521 – Spring 2014 Register Now ACCT 521 exam 1 study guide .docx 3 pagesTextbook Assignment 2 – Jones (1)Textbook Assignment 2 – Jones (1) Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now Textbook Assignment 2 – Jones (1) 4 pagesACCT521 Case 1-50.docxACCT521 Case 1-50.docx Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now ACCT521 Case 1-50.docx 3 pagesCASE A1CASE A1 Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now CASE A1 4 pagesACCT521_8wk_Syllabus(6)(2).docxACCT521_8wk_Syllabus(6)(2).docx Liberty University

ACCT 521 – Fall 2019 Register Now ACCT521_8wk_Syllabus(6)(2).docx 4 pagesAccounting-8104051Accounting-8104051 Liberty University COST ACCOUNTING

ACCT 521 – Spring 2012 Register Now Accounting-8104051 2 pagesDB Forum 2.docxDB Forum 2.docx Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now DB Forum 2.docx 7 pagesCost Accounting Chapter Study questions.docxCost Accounting Chapter Study questions.docx Liberty University

ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

ACCT 521 – Fall 2020 Register Now Cost Accounting Chapter Study questions.docx 4 pages1.pdf1.pdf Liberty University Cost Accounting

ACCT 521 – Spring 2016 Register Now 1.pdf 9 pagesACCT 521 Individual Paper.docxACCT 521 Individual Paper.docx Liberty University

ACCT 521 – Fall 2014 Register Now ACCT 521 Individual Paper.docx 1 pagesIntegrative Case 1.docxIntegrative Case 1.docx Liberty University acct 521

ACCT 521 – Fall 2017 Register Now Integrative Case 1.docx 8 pagesHW 5.docxHW 5.docx Liberty University

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ACCT 521 – Summer 2014 Register Now ACCT 521 HW 1 Problem 1 2 pagesACCT 521 HW 1 Problem 3ACCT 521 HW 1 Problem 3 Liberty University COST ACCOUNTING

ACCT 521 – Summer 2014 Register Now ACCT 521 HW 1 Problem 3 2 pages475787 Entities & Activities475787 Entities & Activities Liberty University COST ACCOUNTING

ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

ACCT 521 – Spring 2012 Register Now 475787 Entities & Activities 19 pagesout-1out-1 Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now out-1 1 pagesACCT 521 HW 1 Problem 5ACCT 521 HW 1 Problem 5 Liberty University COST ACCOUNTING

ACCT 521 – Summer 2014 Register Now ACCT 521 HW 1 Problem 5 1 pagesDifferential Analysis to Drop Keep Customers Products.docxDifferential Analysis to Drop Keep Customers Products.docx Liberty University

ACCT 521 – Fall 2014 Register Now Differential Analysis to Drop Keep Customers Products.docx 9 pagesChapter 8Chapter 8 Liberty University Advanced Cost Accounting

ACCT 521 – Spring 2016 Register Now Chapter 8 12 pagesACCT521 Powerpoint assignmentACCT521 Powerpoint assignment Liberty University COST ACCOUNTING

ACCT 521 – Summer 2015 Register Now ACCT521 Powerpoint assignment 2 pagesDB#1DB#1 Liberty University

ACCT 521 – Fall 2013 Register Now DB#1 4 pagesACCT521_Forum1ACCT521_Forum1 Liberty University COST ACCOUNTING

ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

ACCT 521 – Summer 2015 Register Now ACCT521_Forum1 1 pagesExercise 13-21 Estimate Sales Levels Using Production BudgetsExercise 13-21 Estimate Sales Levels Using Production Budgets Liberty University COST ACCOUNTING

ACCT 521 – Summer 2015 Register Now Exercise 13-21 Estimate Sales Levels Using Production Budgets 1 pagesDB#2DB#2 Liberty University

ACCT 521 – Fall 2013 Register Now DB#2 1 pagesCost allocations comparison of dual and single rates problem 12-35Cost allocations comparison of dual and single rates problem 12-35 Liberty University COST ACCOUNTING

ACCT 521 – Summer 2015 Register Now Cost allocations comparison of dual and single rates problem 12-35 17 pagesLanen HW ch10-11Lanen HW ch10-11 Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now Lanen HW ch10-11 143 pagesLanen–Fundamentals of Cost Accounting 4eLanen–Fundamentals of Cost Accounting 4e Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now Lanen–Fundamentals of Cost Accounting 4e 5 pagesArticle Critique 1.docxArticle Critique 1.docx Liberty University COST ACCOUNTING

ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

ACCT 521 – Spring 2014 Register Now Article Critique 1.docx 8 pagesCH Benchmarking ACCT 521.docxCH Benchmarking ACCT 521.docx Liberty University COST ACCOUNTING

ACCT 521 – Spring 2014 Register Now CH Benchmarking ACCT 521.docx 6 pagesCH ACCT 521 Faith Integration Paper .docxCH ACCT 521 Faith Integration Paper .docx Liberty University COST ACCOUNTING

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ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

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 1 CH 1 – Information for Decision Making

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.

It means total…Fundamentals of Cost Accounting COST ACCOUNTING Tests Questions & Answers Showing 1 to 8 of 127 View all Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services, the company has always charged a flat fee per 1 2 3 4 5 See photo below. 1 2 3 4 5

Hello, I am having issues with part (c) of this question. The overhead rates that I calculated for are 1.5 (for Variable Overhead rate) and 3.5 (For the fixed 1 2 3 4 5 Please help me answer the Cash flow indirect and direct method 1 2 3 4 5 Phyllis maintained an IRA account at the brokerage firm ABC.

On February 11 of the current year, she requested a check for the balance of her account. She 1 2 3 4 5 What is the difference between contribution margin and gross margin? 1 2 3 4 5 The Boxwood Machining Co. has the following information for last year: The partial productivity for labor is: 1 2 3 4 5

ACCT 521 ACCT521 ACCT/521 MODULE 1 CH 1 – Information for Decision Making

The Majors Company collected the following information (in days): What is the manufacturing cycle efficiency? 1 2 3 4 5 Back to Department Related Courses ACCT 212 – Principles of Accounting II (742 Documents)ACCT 370 – (666 Documents)ACCT 211 – ? (626 Documents)ACCT 301 – Acct (571 Documents)

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