By Jerol.. Zimmerman
Accounting for determination Making and regulate presents scholars and executives with an realizing appreciation of the strengths and barriers of an organization’s accounting method. This e-book presents a framework for brooding about accounting structures and a foundation for examining proposed adjustments to those platforms. The 7th version demonstrates that managerial accounting is an essential component of the firm’s organizational structure, not only an remoted set of computational issues. the aim of this article is to supply scholars and bosses with an knowing and appreciation of the strengths and boundaries of an organization’s accounting approach, thereby letting them be extra clever clients of those structures. the most function proposed via the writer continues to be in tact for the 7th variation.
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Additional info for Accounting for Decision Making and Control, 7th Edition
1. Characteristics of Opportunity Costs Opportunity costs are not necessarily the same as payments. The opportunity cost of taking job A included the forgone salary of $102,000 plus the $5,000 of intangibles from job B. The opportunity cost of going to a movie involves both the cash outlay for the ticket and popcorn, and also forgoing spending your time studying or attending a concert. Remember, the opportunity cost of obtaining some good or service is what must be surrendered or forgone in order to get it.
3 Recall that the slope of a line is the ratio of the change in its vertical distance divided by the change in its horizontal distance. In Figure 2–2, the slope of the line OC is the distance CZ divided by the distance OZ. CZ Ϭ OZ is the total cost of producing Z units divided by Z units, which is the average cost of producing Z units. qxd 30 Managerial Application: MetroGoldwynMayer Inc. 12/15/09 11:38 AM Page 30 Chapter 2 MGM produces and distributes entertainment products worldwide, including motion pictures, television programming, home video, interactive media, and music.
Managers usually augment accounting data with other knowledge such as customer demands, competitors’ plans, future technology, and government regulations. 4. Use accounting numbers as performance measures cautiously. Accounting numbers such as revenues or average unit manufacturing costs are often used to evaluate managers’ performance. Just because managers are maximizing particular performance measures tailored for each manager does not necessarily cause firm profits to be maximized. The Vortec example illustrates the importance of understanding how accounting numbers are constructed, what they mean, and how they are used in decision making and control.