About 'cost accounting vs managerial accounting'|Common Mistakes

About 'cost accounting vs managerial accounting'|Common Mistakes

Ｃｏｓｔ               ａｎａｌｙｓｉｓ               ａｎｄ               ｕｎｄｅｒｓｔａｎｄｉｎｇ               ｔｈｅ               ｎａｔｕｒｅ               ｏｆ               ｃｏｓｔ               ｂｅｈａｖｉｏｒ               ａｒｅ               ｅｘｔｒｅｍｅｌｙ               ｉｍｐｏｒｔａｎｔ               ｆｏｒ               ａ               ｍａｎａｇｅｍｅｎｔ               ａｃｃｏｕｎｔａｎｔ. Ｔｈｅｓｅ               ｆａｃｔｏｒｓ               ａｌｌｏｗ               ｕｓ               ｔｏ               ｅｓｔｉｍａｔｅ               ｐｏｔｅｎｔｉａｌ               ｃｏｓｔｓ               ａｎｄ               ｌｅｖｅｌｓ               ｏｆ               ｐｒｏｄｕｃｔｉｏｎ               ａｓ               ｗｅ               ｍｏｎｉｔｏｒ               ｃｕｒｒｅｎｔ               ｃｏｓｔｓ               ａｎｄ               ｐｒｏｄｕｃｔｉｏｎｓ. Ｃｏｓｔｓ               ａｒｅ               ａ               ｍａｊｏｒ               ｆａｃｔｏｒ               ｔｏｗａｒｄｓ               ｄｅｃｉｓｉｏｎ               ｍａｋｉｎｇ               ｗｉｔｈｉｎ               ａｎｙ               ｂｕｓｉｎｅｓｓ. Ｈｏｗ               ｃａｎ               ｗｅ               ｒｅｄｕｃｅ               ｃｏｓｔｓ               ａｎｄ               ｓｔｉｌｌ               ｂｏｏｓｔ               ｒｅｖｅｎｕｅ? Ａｒｅ               ｗｅ               ａｂｌｅ               ｔｏ               ｃｕｔ               ｐｒｉｃｅｓ               ｔｏ               ｂｏｏｓｔ               ｗｏｒｔｈ               ｆｏｒ               ｔｈｅ               ｃｏｎｓｕｍｅｒ? Ａｌｌ               ｏｕｒ               ｄｅｃｉｓｉｏｎｓ               ａｂｏｕｔ               ｃｏｓｔ               ａｒｅ               ａｉｍｅｄ               ｔｏｗａｒｄｓ               ｍａｘｉｍｉｚｉｎｇ               ｏｕｒ               ｐｒｏｆｉｔ               ａｎｄ               ｇｅｔｔｉｎｇ               ｔｈｅ               ｍｏｓｔ               ｏｕｔ               ｏｆ               ｏｕｒ               ｂｕｓｉｎｅｓｓ               (Ａｔｋｉｎｓｏｎ,               Ｋａｐｌａｎ,               Ｍａｔｓｕｍｕｒａ,               &               Ｙｏｕｎｇ,               2007). Ｆｉｘｅｄ               ｃｏｓｔｓ               ａｒｅ               ｅｘｐｅｎｓｅｓ               ｗｈｉｃｈ               ａｒｅ               ｒｅｑｕｉｒｅｄ               ｔｏ               ｂｅ               ｐａｉｄ               ｎｏ               ｍａｔｔｅｒ               ｗｈａｔ               ｔｈｅ               ｆｌｏｗ               ｏｆ               ｂｕｓｉｎｅｓｓ. Ｓｏｍｅ               ｏｆ               ｏｕｒ               ｆｉｘｅｄ               ｃｏｓｔｓ               ｉｎｃｌｕｄｅ               ｒｅｎｔ,               ｕｔｉｌｉｔｉｅｓ,               ａｎｄ               ｉｎｓｕｒａｎｃｅ. Ｗｈｉｌｅ               ｔｈｅ               ａｍｏｕｎｔ               ｄｕｅ               ｍａｙ               ｆｌｕｃｔｕａｔｅ               ｅａｃｈ               ｍｏｎｔｈ,               ｔｈｅｉｒ               ｆｉｘｅｄ               ｓｔａｔｕｓ               ｃｏｍｅｓ               ｆｒｏｍ               ｔｈｅ               ｆａｃｔ               ｔｈａｔ               ｔｈｅｙ               ｗｉｌｌ               ｂｅ               ｄｕｅ               ｅａｃｈ               ｍｏｎｔｈ. Ｉｎ               ｃｏｍｐａｒｉｓｏｎ,               ｖａｒｉａｂｌｅ               ｃｏｓｔｓ               ａｒｅ               ｃｏｓｔｓ               ｗｈｉｃｈ               ｆｌｕｃｔｕａｔｅ               ｂａｓｅｄ               ｏｎ               ｐｒｏｄｕｃｔｉｏｎ               ｌｅｖｅｌｓ. Ｔｈｅｓｅ               ｋｉｎｄｓ               ｏｆ               ｃｏｓｔｓ               ａｒｅ               ｒｅｌａｔｉｖｅ               ｔｏ               ｉｎｖｅｎｔｏｒｙ               ｏｒ               ｉｎ               Ｃｌａｉｒｅ'ｓ               Ａｎｔｉｑｕｅｓ               ｃａｓｅ,               ｔｈｅ               ｐｕｒｃｈａｓｅ               ｏｆ               ｆｌｅｘｉｂｌｅ               ｒｅｓｏｕｒｃｅｓ               ｓｕｃｈ               ａｓ               ｗｏｏｄ,               ｂｒａｃｋｅｔｓ               ａｎｄ               ｃｌｏｃｋ               ｍｅｃｈａｎｉｓｍｓ. Ｉｆ               ｔｈｅ               ｐｒｏｄｕｃｔ               ｉｓ               ｎｏｔ               ｂｅｉｎｇ               ｍａｄｅ,               ｔｈｅ               ｐｒｏｄｕｃｔ               ｗｏｕｌｄ               ｎｏｔ               ｂｅ               ｐｕｒｃｈａｓｅｄ               ａｎｄ               ｔｈｕｓ,               ｍｏｎｅｙ               ｎｏｔ               ｓｐｅｎｔ               (Ａｔｋｉｎｓｏｎ,               Ｋａｐｌａｎ,               Ｍａｔｓｕｍｕｒａ,               &               Ｙｏｕｎｇ,               2007).                Ｔｈｅ               ａｄｖａｎｔａｇｅｓ               ｏｆ               ｆｉｘｅｄ               ｃｏｓｔｓ               ｉｎｃｌｕｄｅ               ａ               ｒｅｌｉａｂｌｅ               ａｃｃｏｕｎｔｉｎｇ               ｓｔｒｕｃｔｕｒｅ. Ｏｕｒ               ｂｏｏｋｓ               ｗｉｌｌ               ｂｅ               ｎｅａｔ               ａｎｄ               ｃｌｅａｎ               ｃｏｎｃｅｒｎｉｎｇ               ｃｏｓｔ               ａｎｄ               ｅｘｐｅｎｓｅ               ｆｏｒ               ｔｈｅ               ｍｏｎｔｈ. Ｉｔ               ｗｏｕｌｄ               ｂｅ               ｅａｓｙ               ｔｏ               ｄｅｔｅｒｍｉｎｅ               ｈｏｗ               ｍｕｃｈ               ｗｅ               ｎｅｅｄ               ｔｏ               ｓｅｌｌ               ｔｏ               ｂｒｅａｋ-ｅｖｅｎ               ｏｒ               ｍａｋｅ               ａ               ｐｒｏｆｉｔ. Ｈｏｗｅｖｅｒ,               ｓｈｏｕｌｄ               ａｎ               ｕｎｅｘｐｅｃｔｅｄ               ｉｎｃｒｅａｓｅ               ｉｎ               ｄｅｍａｎｄ               ｆｏｒ               ｏｎｅ               ｏｒ               ｍｏｒｅ               ｏｆ               ｏｕｒ               ｐｒｏｄｕｃｔｓ               ｏｃｃｕｒ,               ｉｔ               ｃｏｕｌｄ               ｃａｕｓｅ               ａ               ｓｈｉｆｔ               ｉｎ               ｔｈｉｓ               ｐｅｒｆｅｃｔｌｙ               ｂａｌａｎｃｅｄ               ｅｑｕｉｌｉｂｒｉｕｍ. Ｄｉｃｔａｔｅｄ               ｂｙ               ｆｉｘｅｄ               ｃｏｓｔｓ,               ｗｅ               ｗｏｕｌｄ               ｂｅ               ｕｎａｂｌｅ               ｔｏ               ｃｒｅａｔｅ               ｍｏｒｅ               ｏｆ               ｔｈｅ               ｐｒｏｄｕｃｔ               ｎｅｅｄｅｄ               ｉｎ               ａｎ               ａｐｐｒｏｐｒｉａｔｅ               ｔｉｍｅ               ｐｅｒｉｏｄ. Ｉｎ               ｔｈｅ               ａｄｖｅｒｓｅ               ｓｉｔｕａｔｉｏｎ               ｗｈｅｒｅ               ｓａｌｅｓ               ｄｅｃｌｉｎｅ               ｆｏｒ               ａ               ｎｕｍｂｅｒ               ｏｆ               ｗｅｅｋｓ,               Ｃｌａｉｒｅ'ｓ               Ａｎｔｉｑｕｅｓ               ｗｏｕｌｄ               ｂｅ               ｌｅｆｔ               ｈｏｌｄｉｎｇ               ｔｈｅ               ｂａｇ               ｗｉｔｈ               ｔｈｅ               ａｄｄｉｔｉｏｎａｌ               ｍｅｒｃｈａｎｄｉｓｅ               ｐｒｏｄｕｃｅｄ               ａｎｄ               ｌｅｆｔ               ｕｎｓｏｌｄ. Ｔｏ               ｍａｋｅ               ｕｐ               ｆｏｒ               ｔｈｅ               ｄｅｃｒｅａｓｅ               ｉｎ               ｓａｌｅｓ,               ｏｕｒ               ａｍｏｕｎｔ               ｎｅｅｄｅｄ               ｔｏ               ｂｅ               ｓｏｌｄ               ｔｏ               ｍａｋｅ               ａ               ｐｒｏｆｉｔ               ｗｏｕｌｄ               ｂｅ               ｌａｒｇｅｒ               ｔｈａｎ               ｔｈｅ               ｌａｓｔ               ｔｅｒｍ               (Ａｔｋｉｎｓｏｎ,               Ｋａｐｌａｎ,               Ｍａｔｓｕｍｕｒａ,               &               Ｙｏｕｎｇ,               2007).                Ｔｈｉｓ               ｉｓ               ｗｈｅｒｅ               ｗｅ               ｓｅｅ               ｔｈｅ               ａｄｖａｎｔａｇｅｓ               ｏｆ               ｈａｖｉｎｇ               ｖａｒｉａｂｌｅ               ｃｏｓｔｓ               ａｓ               ｗｅｌｌ. Ｉｎ               ｋｅｅｐｉｎｇ               ｏｕｒ               ｃｏｓｔ               ｏｆ               ｒａｗ               ｍａｔｅｒｉａｌｓ               ｖａｒｉａｂｌｅ,               ｗｅ               ａｒｅ               ａｂｌｅ               ｔｏ               ｐｒｏｄｕｃｅ               ｏｎｌｙ               ｗｈａｔ               ｉｓ               ｎｅｅｄｅｄ. Ｏｆ               ｃｏｕｒｓｅ,               ｔｈｉｓ               ｄｏｅｓｎ'ｔ               ａｌｌｏｗ               ｆｏｒ               ｅｎｄｓ               ｔｏ               ｂｅ               ｔｉｅｄ               ｕｐ               ａｓ               ｎｅａｔ               ａｎｄ               ｅａｓｙ               ａｓ               ｆｉｘｅｄ               ｃｏｓｔｓ               ｗｏｕｌｄ. Ｈｏｗｅｖｅｒ,               ｖａｒｉａｂｌｅ               ｃｏｓｔｓ               ｗｏｕｌｄ               ａｌｌｏｗ               ｕｓ               ｔｏ               ｍｅａｓｕｒｅ               ｓｕｃｃｅｓｓ               ａｎｄ               ｓｈｏｒｔ-ｃｏｍｉｎｇｓ,               ａｓ               ｗｅｌｌ               ａｓ               ｔｅｓｔ               ｎｅｗ               ｐｒｏｄｕｃｔｓ               ｍｏｒｅ               ｅａｓｉｌｙ               (ＣＴＵ,               2007).                Ａｓ               ｙｏｕ               ｃａｎ               ｓｅｅ,               ｔｈｅｒｅ               ａｒｅ               ｐｒｏｓ               ａｎｄ               ｃｏｎｓ               ｔｏ               ｅａｃｈ               ｔｙｐｅ               ｏｆ               ｃｏｓｔ               ａｎｄ               ｍｏｎｔｈｌｙ               ｅｘｐｅｎｓｅ. Ａｓｓｕｍｉｎｇ               ｔｈａｔ               ａｌｌ               ｅｘｐｅｎｓｅｓ               ａｒｅ               ｖａｒｉａｂｌｅ               ｗｏｕｌｄ               ｕｎｄｅｒｅｓｔｉｍａｔｅ               ｃｏｓｔｓ               ｓｉｎｃｅ               ｉｔ               ｗｉｌｌ               ｎｏｔ               ｒｅｐｏｒｔ               ｆｏｒ               ｔｈｅ               ｃｏｓｔ               ｏｆ               ｕｎｕｓｅｄ               ｏｒ               ｕｎｓｏｌｄ               ｐｒｏｄｕｃｔ. Ａｓｓｕｍｉｎｇ               ａｌｌ               ｃｏｓｔｓ               ａｒｅ               ｆｉｘｅｄ               ｗｉｌｌ               ｏｖｅｒｅｓｔｉｍａｔｅ               ｃｏｓｔｓ               ｓｉｎｃｅ               ｉｔ               ｗｉｌｌ               ｎｏｔ               ａｃｃｏｕｎｔ               ｆｏｒ               ｔｈｅ               ｆｌｅｘｉｂｌｅ               ｒｅｓｏｕｒｃｅｓ               ｔｈａｔ               ｔｈｅ               ｏｒｇａｎｉｚａｔｉｏｎ               ｗｉｌｌ               ｎｅｅｄ. Ｉｔ               ｉｓ               ｍｙ               ｐｏｓｉｔｉｏｎ               ｔｈａｔ               Ｃｌａｉｒｅ'ｓ               Ａｎｔｉｑｕｅｓ               ｃｏｎｔｉｎｕｅ               ｗｉｔｈ               ｉｔｓ'               ｃｕｒｒｅｎｔ               ｍｉｘｅｄ               ｃｏｓｔ               ａｎａｌｙｓｉｓ               ｔｏ               ｃｏｎｔｉｎｕｅ               ｗｉｔｈ               ｓｕｃｃｅｓｓｆｕｌ               ｂｕｓｉｎｅｓｓ               (Ａｔｋｉｎｓｏｎ,               Ｋａｐｌａｎ,               Ｍａｔｓｕｍｕｒａ,               &               Ｙｏｕｎｇ,               ｐｇ               33,               2007).                Ｒｅｆｅｒｅｎｃｅｓ:                Ａｔｋｉｎｓｏｎ,               Ａ.,               Ｋａｐｌａｎ,               Ｒ.,               Ｍａｔｓｕｍｕｒａ,               Ｅ. &               Ｙｏｕｎｇ,               Ｓ. (2007)               Ｍａｎａｇｅｍｅｎｔ               Ａｃｃｏｕｎｔｉｎｇ. (5ｔｈ               ｅｄ.)               Ｕｐｐｅｒ               Ｓａｄｄｌｅ               Ｒｉｖｅｒ,               ＮＪ:               Ｐｅａｒｓｏｎ               Ｅｄｕｃａｔｉｏｎ,               Ｐｒｅｎｔｉｃｅ               Ｈａｌｌ.                Ｃｏｌｏｒａｄｏ               Ｔｅｃｈｎｉｃａｌ               Ｕｎｉｖｅｒｓｉｔｙ               Ｏｎｌｉｎｅ. (2006)               Ｍａｎａｇｅｒｉａｌ               Ａｃｃｏｕｎｔｉｎｇ               Ｐｒａｃｔｉｃｅｓ:               Ｐｈａｓｅ               2               Ｃｏｕｒｓｅ               Ｍａｔｅｒｉａｌ. Ｒｅｔｒｉｅｖｅｄ               ｏｎ               Ｓｅｐｔｅｍｂｅｒ               8,               2007               ｆｒｏｍ               ｈｔｔｐｓ://ｃａｍｐｕｓ.ｃｔｕｏｎｌｉｎｅ.ｅｄｕ/ＭａｉｎＦｒａｍｅ.ａｓｐｘ?ＣｏｎｔｅｎｔＦｒａｍｅ=/Ｃｌａｓｓｒｏｏｍ/ｃｏｕｒｓｅ.ａｓｐｘ?Ｃｌａｓｓ=23719&ｔｉｄ=39

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   kid-learn-english.blogspot.com/   04/15/2009

   ... for automobiles. take care vs take care of Take care is used...example: "You should take care of your new car, it cost a lot of money." that, which, who " Who " (or ...

7. Common Mistakes in English

   spicusians.blogspot.com/   10/02/2010

   ...take care vs take care of Take care is used...example: "You should take care of your new car, it cost a lot of money...

8. Thinking About Getting An MBA? Part 5

   askunclebill.typepad.com/my_weblog/   02/12/2010

   ...so I will finish it. Managerial Accounting To evaluate business...control, manage, and utilize costs. In this area, you...First In First Out) vs. LIFO (Last In, First...

9. I'm Going To Get An MBA--What Does That Mean? Part Five

   askunclebill.typepad.com/   09/11/2006

   ...so I will finish it. Managerial Accounting To evaluate business...control, manage, and utilize costs. In this area, you...First In First Out) vs. LIFO (Last In, First...

10. Dogs vs. Cats, Treasury vs. State, Economists vs. Diplomats

    delong.typepad.com/hoisted_from_the_archives/   12/29/2007

    ...with these caveats--accounting earnings a good approximation... permanent earnings, managerial entrenchment offsetting superior...

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