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19 Cards in this Set
- Front
- Back
cost accounting
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attempts to satisfy costing objectives for both financial and management accounting
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management accounting
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concerned specifically with how cost information and other financial and nonfinancial information should be used for planning, controlling, and decision making
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cost management
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produces information for internal users
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cost accounting
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a subsystem of cost management that is concerned with determining the cost of products, services, projects, activities, and other objects that may be of interest to managers
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1. enterprise resource planning
2. PCs 3. electronic commerce |
3 advances related to information technology
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theory of constraints
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a method used to continuously improve manufacturing activities and nonmanufacturing activities
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1. theory of constraints
2. just-in-time manufacturing 3. computer-integrated manufacturing |
3 advances in management environment
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computer-integrated manufacturing
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the automation of the manufacturing environment
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target costing
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encourages managers to assess the overall cost impact of product designs over the product's life cycle and simultaneously provides incentives to make design changes to reduct costs
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activity-based management
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identifies the activities produced at each stage of the development process and assesses their costs
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total quality management
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a philosophy that requires managers to strive to create an environment that will enable workers to manufacture perfect products
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1. continual improvement
2. elimination of waste |
2 foundation principles that govern a state of manufacturing excellence
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line positions
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positions that have direct responsibility for the basic objectives of an organization
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staff positions
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positions that are supportive in nature and have only indirect responsibility for an organization's basic objectives
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controller
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the chief accountant of an organization
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planning
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the detailed formulation of future actions to achieve a particular end
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controlling
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the process of monitoring a plan's implementation and taking corrective action as needed. usually achieved with the use of feedback
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decision making
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the process of choosing among competing alternatives
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1. competence
2. confidentiality 3. integrity 4. objectivity |
standards of ethical conduct for management accounting
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