ACC 3200 Chapter Notes - Chapter 1-2: Income Statement, Variable Cost, Marginal Cost
11 Sep 2017
School
Department
Course
Professor
Document Summary
Report and analyze financial measures but also nonfinancial measures of process performance and corporate social performance. Emphasizes financial consequences of past activities emphasizes decisions affecting future. Segment: is a part or activity of an organization about which managers would like cost, revenue, or profit data. Budget: detailed plan for the future that is usually expressed in formal quantitative terms. Gathering, evaluating, and responding to feedback to make sure you reach expectations. Performance reports: compares budgeted data to actual data in an effort to identify and learn from excellent performance and to identify and eliminate sources of unsatisfactory performance. Cost classifications for assigning costs to cost objects. Cost object: anything for which cost data are desired- including products, job, customers, and organization subunits. Direct: can easily and conveniently be traced to a specific cost object. 10,000 brochures: cost of the paper used to make brochures would be a direct cost of that customer.
