Transcription of Introduction To Cost Accounting - MIT …
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Introduction To Cost Accounting - MIT …
6 Introduction To cost Accounting Accounting Spring 2004 Professor S. Roychowdhury Sloan School of Management Massachusetts Institute of Technology April 28, 2004 7 Outline Overview of managerial Accounting issues Brief discussion of performance evaluation cost Accounting terminology cost behavior Product costing: traditional method Product costing: activity based costing (ABC) 8 ) Costing cost Centers Mix or Buy Managerial Accounting What are the Goals? Performance Evaluation (ControlBudgeting Variance Analysis Profit and Decision Making Pricing Production Product Make Change Methods Discontinue Financial Reporting Page 1 A few words about Performance Evaluation You get what you pay for Strongly recommended reading: On the folly of rewarding A, while hoping for B Doctors and litigation penalty for type II errors. Where else is this evident? Auditors Litigation risk induced conservatism Insurance company reward for attendance but hoping for performance.
6 Introduction To Cost Accounting 15.501/516 Accounting Spring 2004 Professor S. Roychowdhury Sloan School of Management Massachusetts Institute of Technology
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