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Descrição
FlashCards por Simon Hellberg-Z, atualizado more than 1 year ago
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Criado por Simon Hellberg-Z
quase 9 anos atrás
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| Questão | Responda |
| Management Accounting | Accounting carried out within a business for its own internal uses, to assist management and the business in making business decisions |
| Stakeholders | All individuals and entities that have an interest in the activities of an organization: includes shareholders, financiers, employees, general public |
| Cost and management accounting | Accounting oriented towards the provision of information resources that mangers can use to run a business |
| Hawthorne Effect (Ch. 2) | Describes the phenomenon, commonly noted in psychological research, where peoples behavior changes when they are under observation as part of a research project |
| Mechanical School (Ch. 2) | In organization theory, has to do with those who treat the organization as a machine as opposed to the human relations school theory |
| Human relations school (Ch. 2) | This has to do with those who emphasize the role of people in an organization, as opposed to the mechanical school. |
| Agency theory (Ch. 2) | In the organizational context, this theory proposes a relationship between a principle (provider of funds) and the agent (person who manages those funds) |
| Utility (Ch. 2) | In an economic context, this is the measurement of consumption of goods and services. Agency theory assumes that all individuals want to maximize their utility, that is, their ability to consume. |
| Theory X (Ch. 2) | A model for human behavior by McGregor which proposes that people actively dislike working and therefore must be controlled and directed in order to get them to work. |
| Theory Y (Ch. 2) | Proposes that people are self-motivated, will accept responsibility, and do not need to be threatened or punished in order to work. |
| Direct Costs (Ch. 3 Product and Service Costing) | Costs directly associated with the manufacturing process |
| Direct Expenses | Direct costs except direct materials and direct labor costs. |
| Indirect costs | Those costs that are not directly identifiable with a unit of production. |
| Prime Costs | The total of all direct costs associated with manufacturing. |
| Product Cost | The costs related to the production of goods and services for sale by a business. |
| Period Costs | Costs incurred during the accounting period. |
| Absorption Costing | The cost of products and services which include both direct and indirect costs of production. |
| Job costing | An accumulation of costs relating to one identifiable job or task. |
| Product costing | An accumulation of costs relating to the production of a large number of identifiable units. |
| Batch costing | the accumulation of costs relating to a batch of identical products. |
| Cost unit | An item of production or a group of products or a service for which it is useful to have product cost information. |
| Inventory | Items bought by a business to sell on to somebody else, or to process or transform in some way to make salable goods. |
| Cost centers | Functions or areas into which costs can be organized. |
| Overhead absorption | A method of allocating an appropriate portion of production overheads to cost units. |
| Overhead Absorption Rate | A rate used to estimate the amount of production overhead incurred in manufacturing. |
| Contribution | The amount that remains after deducting variable costs from sales revenue. |
| New Public Management | The adoption of the public sector of accounting and management techniques that originated in the private sector. |
| Perfect competition (Ch. 5 Pricing) | A hypothetical economic condition where no player in a market has the power to change prices. |
| Cartel | A price-fixing arrangement where a few major suppliers in a market agree between themselves to keep prices high. |
| Price taker | A supplier in a market with little or no influence over the level of prices charged for a product or service. |
| Price setter | An influential supplier in a market with the power to influence the level of prices for a product or service. |
| Loss leader | A product or service which is used to attract customer attention to a range of goods or to a particular supplier |
| Price skimming | Occurs where high prices are changed in the early stages of the life of a new product. |
| Marginal costing (Ch. 6: Marginal Costing and Decision-Making) | An approach to costing which excludes fixed costs |
| Sunk cost | A cost which is irrevelant to a decision, because it has already been incurred. |
| Opportunity cost | In decision making, the potential benefit that is given up when a particular course of action is ten in preference to an alternative. |
| Variable cost | A cost which varies in proportion to the level of business activity |
| Semi-variable cost | A cost which varies to some extent with the level of business activity; it has both fixed and variable elements. |
| Marginal cost | The cost of one additional unit |
| Margin of safety | the excess of planned or actual sales above the break-even point. |
| Relevant range | In decision making, the range of activity within which certain assumptions about cost behavior remain valid. |
| Limiting factors | Constraints on the level of business activity |
| Intellectual Capital (Ch. 11: Themes and Issues in Management Accounting) | The resources available to an organization in the form of, for example, technical know how of employees and established relationships with other organizations. |
| Strategic management Accounting | The role played by management accountants and management accounting in strategic decision making involving for example analysis of marketing and the business strategy of competitor organizations. |
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