cma考试P1-03

Copyright高才国际教育集团S3:CostMgmtTerminologyandConcepts1MODULE34TAXES:TRANSACTIONSINPROPERTYS3:CostMgmtTerminologyandConceptsInstructor:HelenCopyright高才国际教育集团P1–FinancialPlanning,PerformanceandControlCopyright高才国际教育集团S3:CostMgmtTerminologyandConcepts2CostMgmtTerminologyandConceptsS3A.CostMgmtTerminologyB.CostClassificationC.CostBehaviorandRelevantRangeD.CostingTechniquesCopyright高才国际教育集团S3:CostMgmtTerminologyandConcepts3A.CostMgmtTerminologyCopyright高才国际教育集团S3:CostMgmtTerminologyandConcepts4ACostMGMTTerminology1.SubdisciplinesofAccountinga)FinancialaccountingItisconcernedprincipallywithreportingtoexternalusers,usuallythroughasetofF/SproducedinaccordancewithGAAP.Itthushasahistoricalfocus.b)MgmtaccountingItisconcernedprincipallywithreportingtointernalusers.Thegoalistoproducereportsthatimproveorganizationaldecisionmaking.Itisthusfuture-oriented.c)CostaccountingItsupportsbothfinancialandmgmtaccounting.Infoaboutthecostofresourcesacquiredandconsumedbyanorganizationunderlieseffectivereportingforbothinternalandexternalusers.Copyright高才国际教育集团S3:CostMgmtTerminologyandConcepts5ACostMGMTTerminology2.BasicDefinitionsa)CostInmgmtaccounting,itisameasurementinmonetarytermsoftheamountofresourcesusedforsomepurpose.①Thetermbyitselfisnotoperational.Itbecomesoperationalwhenmodifiedbyatermthatdefinesthepurpose,suchasacquisitioncost,incrementalcost,orfixedcost.Infinancialaccounting,itisthesacrificemeasuredbythepricepaidorrequiredtobepaidtoacquiregoodsorservices.①Whencostisusedreferringtothevaluationofagoodorserviceacquired,itisanasset.②Whenthebenefitsoftheacquisitionexpire,thecostbecomesanexpenseorloss.Copyright高才国际教育集团S3:CostMgmtTerminologyandConcepts6ACostMGMTTerminology2.BasicDefinitionsb)CostobjectItisanyentitytowhichcostscanbeattached.①Examplesareproducts,processes,employees,departments,andfacilities.c)CostdriverItisthebasisusedtoassigncoststoacostobject.Itisameasureofactivitythatisacausalfactorintheincurrenceofcosttoanentity.①ExamplesareDLHRS,machinehours,bedsoccupied,computertimeused,flighthours,milesdrivenetc.Copyright高才国际教育集团S3:CostMgmtTerminologyandConcepts7ACostMGMTTerminology2.BasicDefinitionsd)CostunitAunitofproductorserviceinrelationtowhichcostsareascertained①Acostunitcanbeanythingwhichismeasurableandusefulforcostcontrolpurposes.②Thecostunitselectedwilldependonanumberoffactors,includingthepurposeoftheexerciseandtheamountofinfoavailable.Thecostunitsforservicesareusuallyintangibleandtheareoftencompositecostunits.①Thatis,theyareoftenmadeupof2parts.②Forexample:BusinessCostunitDeliveryHotelBuscompanyTon-mileBed-nightPassenger-mileCopyright高才国际教育集团S3:CostMgmtTerminologyandConcepts8QuestionTime…1.MgmtaccountingdiffersfromfinancialaccountinginthatfinancialaccountingisAnswer:BA.MoreorientedtowardthefutureB.PrimarilyconcernedwithexternalfinancialreportingC.ConcernedwithnonquantitativeinformationD.Heavilyinvolvedwithdecisionanalysisandimplementationofdecisions.Copyright高才国际教育集团S3:CostMgmtTerminologyandConcepts9B.CostClassificationCopyright高才国际教育集团S3:CostMgmtTerminologyandConcepts10BCostClassification1.ManufacturingCostsvs.NonmanufacturingCostsa)ManufacturingcostsDirectmaterials(DM)①Thosetangibleinputstothemanufacturingprocessthatcanpracticallybetracedtotheproduct.②AllcostsofbringingRMtotheproductionline(ex.transportation-in)areincludedinthecostofDM.Directlabor(DL)①Itisthecostofhumanlaborthatcanpracticallybetracedtotheproduct.②WhetheremployeefringesareincludedinDLcostsortreatedasMOH,theeffectonCOGSisthesame.BothwaysincludetheamountsinVMOH.DM,DL,andMOHCopyright高才国际教育集团S3:CostMgmtTerminologyandConcepts111.ManufacturingCostsvs.NonmanufacturingCostsa)ManufacturingcostsManufacturingoverhead(MOH)①Indirectmaterialsaretangibleinputstothemanufacturingprocessthatcannotpracticablybetracedtotheproduct.AllcostsofmanufacturingthatarenotDMorDL.Example:lubricantsandcleaningsuppliesusedintheautomobileassemblyplant.②Indirectlaboristhecostofhumanlaborconnectedwiththemanufacturingprocessthatcannotpracticallybetracedtotheproduct.Example:thewagesofassemblylinesupervisors.③FactoryoperatingcostsExample:utilities,realestatetaxes,insurance,DEPonfactoryequipmentBCostClassificationCopyright高才国际教育集团S3:CostMgmtTerminologyandConcepts121.ManufacturingCostsvs.NonmanufacturingCostsa)ManufacturingcostsPrimecostvs.Conversioncost①Primecost②ConversioncostThosecostsdirectlyattributabletoaproduct.DMAdd:DLPrimecostThosecostsofconvertingRMintoFG.DLAdd:MOHConversioncostBCostClassificationCopyright高才国际教育集团S3:CostMgmtTerminologyandConcepts131.ManufacturingCostsvs.NonmanufacturingCostsb)NonmanufacturingcostsSelling(marketing)expenses①Thosecostsincurredingettingtheproductfromthefactorytotheconsumer.②Forexample:SalespersonnelsalariesProducttransportationAdministrativeexpensesS&A①Thosecostsincurredbyacompanynotdirectlyrelatedtoproducingormarketingtheproduct.②Forexample:ExecutivesalariesDEPontheheadquartersbuildingBCostClassificationCopyright高才国际教育集团S3:CostMgmtTerminologyandConcepts142.ProductCostsvs.PeriodCostsa)ProductcostsTheyarecapitalizedaspartoffin