Ebook Management and cost accounting (8th ed): Part 2
➤ Gửi thông báo lỗi ⚠️ Báo cáo tài liệu vi phạmNội dung chi tiết: Ebook Management and cost accounting (8th ed): Part 2
Ebook Management and cost accounting (8th ed): Part 2
PART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and va Ebook Management and cost accounting (8th ed): Part 2 ariance analysis 118Standard costing and variance analysis 2: Further aspects19Divisional financial performance measures20Transfer pricing in divisionalized companiesThe objective in this section is to consider the implementation of decisions through the planning and control process. Planning involv Ebook Management and cost accounting (8th ed): Part 2 es systematically looking at the future, so that decisions can be made today which will bring the company its desired results. Control can be definedEbook Management and cost accounting (8th ed): Part 2
as the process of measuring and correcting actual performance to ensure that plans for implementing the chosen course of action are carried out.Part FPART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and va Ebook Management and cost accounting (8th ed): Part 2 the budgeting process. The budgeting process in profit-oriented organizations is compared with that in non-profit organizations.Chapters 16 to 18 are concerned with the control process. To fully understand the role that management accounting control systems play in the control process, it is necess Ebook Management and cost accounting (8th ed): Part 2 ary to be aware of how they relate to the entire array of control mechanisms used by organizations. Chapter 16 describes the different types of controEbook Management and cost accounting (8th ed): Part 2
ls that are used by companies. The elements of management accounting control systems are described within the context of the overall control process. PART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and va Ebook Management and cost accounting (8th ed): Part 2 em that enables the differences between the planned and actual outcomes to be analyzed in detail. Chapter 17 describes the operation of a standard costing system and explains the procedure for calculating the variances. Chapter 18 examines more complex aspects relating to standard costing.Chapters 1 Ebook Management and cost accounting (8th ed): Part 2 9 and 20 examine the special problems of control and measuring performance of divisions and other decenưalized units within an organization. Chapter 1Ebook Management and cost accounting (8th ed): Part 2
9 considers how divisional financial performance measures might be devised which will motivate managers to pursue overall organizational goals. ChaptePART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and va Ebook Management and cost accounting (8th ed): Part 2 and also ensure that the performance measures derived from using the transfer prices represent a fair reflection of managerial performance.♦15__________THE BUDGETING PROCESSLEARNING OBJECTIVES After studying this chapter, you should be able to:explain how budgeting fits into the overall planning an Ebook Management and cost accounting (8th ed): Part 2 d control framework;identify and describe the six different purposes of budgeting;identify and describe the vanous stages in the budget process;preparEbook Management and cost accounting (8th ed): Part 2
e functional and master budgets;describe the use of computer-based financial models for budgeting;describe the limitations of incremental budgeting:dePART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and va Ebook Management and cost accounting (8th ed): Part 2 apters we have considered how management accounting can assist managers in making decisions. The actions that follow managerial decisions normally involve several aspects of the business, such as the marketing, production, purchasing and finance functions, and it is important that management should Ebook Management and cost accounting (8th ed): Part 2 coordinate these various interrelated aspects of decision-making. If they fail to do this, there is a danger that managers may each make decisions thaEbook Management and cost accounting (8th ed): Part 2
t they believe are in the best interests of the organization when, in fact, taken together they are not; for example, the marketing department may intPART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and va Ebook Management and cost accounting (8th ed): Part 2 activities within a company should be coordinated by the preparation of plans of actions for future periods. These detailed plans are usually referred to as jdgots. Our objective in this chapter is to focus on the planning process within a business organization and to consider the role of budgeting Ebook Management and cost accounting (8th ed): Part 2 within this process.358THE STRATEGIC PLANNING, BUDGETING AND CONTROL PROCESS 359THE STRATEGIC PLANNING, BUDGETING AND CONTROLPROCESSTo help you underEbook Management and cost accounting (8th ed): Part 2
stand the budgetary process we shall begin by looking at how it fits into an overall general framework of planning and control, 'llie framework outlinPART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and va Ebook Management and cost accounting (8th ed): Part 2 porting strategics of the organization within the strategic planning process.Strategic planning processBefore the budgeting process begins, an organization should have prepared a long-term pl (also known as a strateg c n). Strategic planning begins with the specification of objectives towards which Ebook Management and cost accounting (8th ed): Part 2 future operations should be directed. Johnson, Scholes and Whittington (2010) identify a hierarchy of objectives - the mission of an organization, corEbook Management and cost accounting (8th ed): Part 2
porate objectives and unit objectives.1The I ission of an organization (see Exhibit 15.1 for an illustration) describes in very general terms the broaPART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and va Ebook Management and cost accounting (8th ed): Part 2 a visionary projection of the central and over-riding concepts on which the organization is based. Corporate objectives relate to the organization as a whole. Objectives tend to be more specific, and represent desired states or results to be achieved. They are normally measurable and are expressed i Ebook Management and cost accounting (8th ed): Part 2 n financial terms such as desired profits or sales levels, return on capital employed, rates of growth or market share, objectives must also be develoEbook Management and cost accounting (8th ed): Part 2
ped for the different parts of an organization. Unit objectives relate to the specific objectives of individual units within the organization, such asPART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and va Ebook Management and cost accounting (8th ed): Part 2 o unit objectives, which become the targets for the individual units. It is important that senior managers in an organization understand clearly where their company is going, and why and how their own role contributes to the attainment of corporate objectives. The strategic planning process should a Ebook Management and cost accounting (8th ed): Part 2 lso specify how the objectives of the organization will be achieved.FIGURE 15.1PART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and vaPART four information, fqr'plannIng,CONTROL Ặụp_ PEREQRIVIANCE MEASUREMENT15The budgeting process16Management control systems17Standard costing and vaGọi ngay
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