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ACC 406
Anthony Chen

The Dilemmas of Managerial AccountantsManagerial accountants face several dilemmas some old some new1Managerial accountants must meet three often conflicting objectives They must provide full costs for financial reporting purposes as required by federal regulations They must provide relevant costs to managers for decisionmaking purposes and they must provide controllable costs for planning and control purposes Often costs derived for one purpose fail to satisfy the needs of another purpose Much of the course is devoted to addressing this problem2Much energy is devoted in manufacturing companies to determining the full manufacturing cost of a product Yet in industries such as the drug business the manufacturing cost might be a relatively small component with RD prior to manufacture and advertising subsequent to manufacture being more important Little is done in traditional cost accounting texts about the relationship of period costs to the product This reflects the period in which cost accounting was born ie that of heavy metal production New methods are urgently needed to address the accounting needs of the information age3The traditional accounting system tracks in some detail the cost of material brought into production and the wages of those who work directly o
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