ADM 3346 Lecture Notes - Lecture 1: Variable Cost, Controllability

• School: University of Ottawa
• Department: Administration
• Course: ADM 3346
• Professor: Tiemei L I

Document Summary

Will go over old exam questions as practice. Measures and reports financial and non-financial information related to the cost of acquiring or utilizing resources in an organization. Provides information on the accumulation and recovery of costs: managerial accounting. Identifying, reporting and analyzing costs of operations. Goal is to use past performance to predict the future. Focuses on reporting to external parties investors, regulators and others. Goal is to present the economic health of a company, fairly. Uses standardized reports such as balance sheets, income statements and statements of cash flow. Planning: the purposeful analysis of information to select and rank organizational goals: 1: obtain information, make predictions about the future, choose an alternative and implement, evaluate performance and learn, control: actions to measure and evaluate performance, management accounting: key guidelines and roles. Corporate social responsibility: accumulated costs from different. Cost assignment actual cost pool to a distinct cost object.