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Class Notes for Accounting at McGill University

ACCT 361 Lecture 10: Chapter 10_ Analysis of Cost Behaviour
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Chapter 10: Analysis of Cost Behaviour Cost Functions: a mathematical representation of how a cost changes with changes in the level of an activity relating to that cost Fixed and Variable Costs Variable Costs Change in to...

Accounting
ACCT 361
Di Sabato
ACCT 361 Lecture Notes - Lecture 8: Customer Retention, Service Design, Opportunity Cost
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Chapter 8 12: Variance Analysis II Planning and Overhead Variable overhead as efficiently as possible, plan only essential activities Fixed overhead as efficiently as possible, plan only essential activities Especially ...

Accounting
ACCT 361
Di Sabato
ACCT 361 Lecture Notes - Lecture 7: Pro Rata, Tonne, Standard Streams
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Chapter 7: Variance Analysis Basic Concepts: Variances: Variance the difference between actual (realized) and budgeted (pro forma) results Management by Exception the practice of focusing attention on areas not operating...

Accounting
ACCT 361
Di Sabato
ACCT 361 Lecture Notes - Lecture 6: Growth Factor, Internal Control, Cash Flow Statement
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Chapter 6: Budgeting Budgeting Blunder: Canadian Firearms Registry The budget for the initial registration cost was $2 Million in 1995. The actual cost was over 1.2 Billion dollars Reasons for budget ...

Accounting
ACCT 361
Di Sabato
ACCT 361 Lecture Notes - Lecture 5: Watt, Profit Margin, Industrial Engineering
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Chapter 5: Activity-Based Costing (ABC) and Management Allocating Costs Cost per Bottle (6 Glasses) = $100 Total Cost = $500 Avg. Cost / Person = $100 How should the bill be split? ...

Accounting
ACCT 361
Di Sabato
ACCT 361 Lecture Notes - Lecture 4: Net Present Value, Engineering Drawing, Wpp Plc
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Chapter 4: Job Costing Preliminaries Similar to concept to Contract Accounting in Financial Accounting Financial Accounting permits to methods: Completed Contract use the balance sheet as a buffer to deter all costs until...

Accounting
ACCT 361
Di Sabato
ACCT 361 Lecture Notes - Lecture 3: Income Statement, Contribution Margin, Procyclical And Countercyclical
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Chapter 3: CostVolumeProfit Analysis (CVP) Case Study: Malaysian Airlines Airline industry has a high degree of operating leverage (DOL): High Fixed Costs The Company was already struggling to compete in 2013 with low cost...

Accounting
ACCT 361
Di Sabato
ACCT 361 Lecture Notes - Lecture 2: Capital Asset, Time Horizon, Income Statement
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Chapter 2: Cost Terms and Purposes Industrial Engineering Runs parallel to accounting in an industrial firm Concerned with all measures other than financial For example, quantities of raw material requ...

Accounting
ACCT 361
Di Sabato
ACCT 361 Lecture Notes - Lecture 1: Outsourcing, Oligopoly, Corporate Social Responsibility
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Chapter 1: The Accountants Vital Role in Decision Making Cost Accounting Measures and reports financial and non-financial information related to the cost of acquiring or utilizing resources in an organizati...

Accounting
ACCT 361
Di Sabato
ACCT 463 Lecture Notes - Lecture 3: Pit Manager, W. M. Keck Observatory, Earnings Management
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Lecture 3: Control Tightness and Control System Costs Can the tightness of controls help guarantee proper behaviour? Controls need to address: direction, motivation, personal limitations Tight Contro...

Accounting
ACCT 463
Philippe Levy
ACCT 463 Lecture 1: Lecture 1 - complete
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Management Control The act or skill of controlling and making decisions about a business The act or process of deciding how to use something Control - CICA Comprises: o Elements: resources, p...

Accounting
ACCT 463
Philippe Levy
ACCT 463 Lecture Notes - Lecture 7: Capital Budgeting, Strategic Planning, Reduced Cost
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Chapter 8: Planning and Decision Making Planning and budgeting: helps clarify where the organization wants to go (objectives), how it intends to get there (strategies), and what results should be expected (pe...

Accounting
ACCT 463
Philippe Levy
ACCT 463 Lecture Notes - Lecture 2: E.G. Time, Customer Satisfaction, Inventory Turnover
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Lecture 2: Result, Action, Personnel and Cultural Controls Managements role is the operate the business and report financial results: Safeguard the assets: fraud prevention Meet companys objectives ...

Accounting
ACCT 463
Philippe Levy
ACCT 463 Lecture Notes - Lecture 5: Transfer Pricing, Gross Margin, Financial Accounting
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Chapter 7: Financial Responsibility Centers Financial Results Controls: result controls have many undefined initiatives 1. Type of result control: profit Reasoning: Easily identified and key measure ...

Accounting
ACCT 463
Philippe Levy
ACCT 463 Lecture Notes - Lecture 4: Organizational Culture
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Lecture 4: Design & Evaluation of Control Systems and Responsibility Centers Designing and Evaluating Systems: Consider what will likely happen Control costs/Behavioral issues Control Environment: Routinized P...

Accounting
ACCT 463
Philippe Levy
Permachart - Marketing Reference Guide: Statement Of Changes In Equity, Retained Earnings, Cash Cash

permacharts MT FINANCIAL STATEMENTS • Financial statements are documents that are BALANCE SHEET (B/S) STATEMENT OF RETAINED EARNINGS (SRE) ...

Accounting
ACTG 2010
All Professors
Accounting II - Reference Guides

Advance your knowledge with our advanced Accounting II! This companion Guide to Accounting I develops the reader’s understanding of balance sheets before moving into an effective summary of how assets are treated for accou...

Accounting
ACTG 2010
All Professors
Cost Accounting - Reference Guides

Specialized Accounting quick reference information in one handy place! This Guide provides specialized reference material that flows naturally from the contents of its companion Guides Accounting I and Accounting II. The t...

Accounting
ACTG 2010
All Professors

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