Cost Accounting Foundations and Evolutions Kinney, Prather, Raiborn
اسلاید 1: Chapter 15Managing Costs and UncertaintyCost AccountingFoundations and EvolutionsKinney, Prather, Raiborn
اسلاید 2: Learning Objectives (1 of 3)Explain the functions of an effective cost control systemDescribe the generic approaches to cost controlList factors that cause costs to change from period to period or to deviate from expectations
اسلاید 3: Learning Objectives (2 of 3)List the two primary types of fixed costs and describe the characteristics of each typeDescribe typical approaches to controlling discretionary fixed costsList the objectives of cash management
اسلاید 4: Learning Objectives (3 of 3)Explain how technology is reducing the costs of supply chain transactionsContrast the uncertainty of dealing with future events and past eventsList the four generic approaches to managing uncertainty
اسلاید 5: Cost Control SystemsProvide information for planning and for determining the efficiency of activities while they are being planned and after they are performed
اسلاید 6: Planning and Control ModelPlanWhere do we want to go?How do we compare to peers?What is the impact of these decisions?
اسلاید 7: Planning and Control ModelExecuteWhat do we have to do?Can we achieve the targets?How do we allocate resources?
اسلاید 8: Planning and Control ModelEvaluateWhere are we?How are we doing compared to plan?What actually happened?
اسلاید 9: Planning and Control ModelRespondWhat decisions do we make? What are the alternatives? Why did it happen?
اسلاید 10: Cost ConsciousnessA companywide employee attitude toward the topics of understanding cost changescost containmentcost avoidancecost reduction
اسلاید 11: Why Costs ChangeCost behaviorInflation/deflationSupply/supplier cost adjustmentsQuantity purchasedHigher taxesAdditional regulations
اسلاید 12: Cost ContainmentCannot containinflationtaxregulatory changessupply and demand adjustmentsUse cost containment for reduced supplier competitionseasonalityquantities purchasedDevelop interorganizational arrangementsArrange long-term or single-source contractsAn approach to minimize cost increases
اسلاید 13: Cost Avoidance and ReductionAvoidance - finding acceptable alternatives; substituting lower cost inputs Reduction - lowering current costsBenchmarks OutsourcingConsultantsOperation redesign
اسلاید 14: Fixed CostsDiscretionary Costs important but optional activitiesemployee travelrepairs and maintenanceadvertisingresearch and developmentemployee training and developmentCommitted Costs plant assets and personnel structuredepreciationlease rentalsproperty taxesstaffCannot be easily reducedCan be reduced
اسلاید 15: Cash Management IssuesCash levelsufficient to cover all needslow enough to allow for alternative uses of cash
اسلاید 16: Banking RelationshipsAccurate, conservative accounting and cash flow information affectsLoan eligibilityLoan limitsCredit terms
اسلاید 17: Banking RelationshipsBanks assessCredit historyAbility to generate cash flowQuality of collateralCharacter of senior officersOperational plans and strategies
اسلاید 18: Supply Chain ManagementA set of processes that convert inputs into products and services for the firm’s customers
اسلاید 19: UncertaintyUncertainty - doubt or lack of precision in specifying future outcomesCauses of cost management uncertaintyLack of identification or understanding of cost driversRandom – some portion of the cost is not predictable based on the cost driverUnforeseen events
اسلاید 20: Dealing with UncertaintyExplicitly factor uncertainty into estimates of future costsStructure costs to automatically adjust to uncertain outcomesUse options and forward contracts to mitigate uncertaintyPurchase insurance to cover unexpected occurrences
اسلاید 21: QuestionsWhat are committed costs and discretionary costs?What are three approaches to cost control?How can a firm reduce uncertainties associated with business activities?
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