{"id":1861,"date":"2019-08-02T07:32:38","date_gmt":"2019-08-02T07:32:38","guid":{"rendered":"https:\/\/assignmenttask.com\/answers\/?p=1861"},"modified":"2020-01-16T20:12:22","modified_gmt":"2020-01-16T20:12:22","slug":"acc513-managerial-accounting-concepts-product-costs-and-activity-based-management-questions","status":"publish","type":"post","link":"https:\/\/assignmenttask.com\/answers\/acc513-managerial-accounting-concepts-product-costs-and-activity-based-management-questions\/","title":{"rendered":"ACC513 Managerial Accounting: Concepts, Product Costs and Activity-Based Management Questions"},"content":{"rendered":"

ACC513 Managerial Accounting Lesson 1 – Concepts, Product Costs and Activity- Based Management<\/strong><\/h2>\n

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Introduction<\/strong><\/p>\n

This lesson provides an overview of managerial accounting and introduces the idea that managerial accounting affects virtually everyone within an organization. It shows how decision makers use managerial accounting information to better manage their organizations.<\/p>\n

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Different types of organizations account for their production costs in different ways. This lesson explores manufacturing costs and shows how the accounting system records and reports the flow of costs in organizations. It provides a comparison of alternative production methods, such as job, process, and operations costing, as well as a comparison of the cost flows using the different production methods.<\/p>\n

It explains how cost methods are adapted to just-in-time production methods and how job costing is applied to service organizations.<\/p>\n

Finally, this lesson explores activity-based costing and management (ABCM), activity based management (ABM), allocation of indirect costs to products, and how ABM affects managerial decisions. It explains the concept of value chain and how it relates to ABM.<\/p>\n

This lesson also compares product costing using activity-based costing (ABC), to traditional cost allocation methods. Examples show the impact of the new production environment on activity bases and how ABM and ABC can be used to eliminate non-value added costs.<\/p>\n

Lesson Learning Objectives<\/strong><\/p>\n

By the conclusion of this Lesson you should be able to:<\/p>\n