Post on 21-Jan-2016
description
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Karen Grossman Tabak
• ABAC 2210 phone 529-9678• Office Hours Tuesday & Thursday 8:15-9:15 &
12:15-2:15 (but PLEASE schedule an appointment if you can 529-9418)
• tabak@maryville.edu• cpaecon@aol.com• accweb.itr.maryville.edu/tabak
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• We will be using a seating chart
• Please decide where you want to sit & sit there next class
• There are advantages & disadvantages to the seats.
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Rules of the Room
Respect EquipmentRespect each otherRemember you are here to learnDon’t rely on equipmentBackup! Backup! And Backup again!
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Rules for this Class
• Come to class (preferably, on time!!!)• Do your homework - before class!• ALWAYS CHECK THE FRONT TABLE FOR HANDOUTS!!!!• Act like you are here to learn. (EVEN ON DAYS YOU ARE
NOT IN THE MOOD - PRETEND IF YOU MUST.)• Relax about exams• Don’t make fun of my inability to spell.• Don’t make fun of my inability to add without a calculator.• Do not play games nor search the internet during class
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RULES ON HOMEWORK• Do the HOMEWORK• DO NOT PLAGIARIZE MY WORK• I WILL COLLECT HOMEWORK
OCCASIONALLY• SAVE! SAVE! SAVE!• AND THEN SAVE AGAIN• DO NOT PLAGIARIZE MY WORK• SUCCESS IN THIS CLASS IS LIKE BAKING A
CAKE – IF YOU FOLLOW THE RECIPE, IT WILL COME OUT OK!
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Supplies
Need the right ingredientsDisks – bring one to class (name)Notebook to keep your homework inBackup! Backup! And Backup again!Will need a nice notebook for
portfolio
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Syllabus
• One test is dropped• Participation and attendance are critical.• Help is available in the Academic Learning
Center. Use it!• LET’S LOOK AT THE ASSIGNMENTS SHEET• LET’S SIGN THE ACKNOWLEDGEMENT
FORM
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Computer Requirements
• You must know how to use excel• Let’s try to do a few things:• Let’s build a worksheet
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Learn the Lingo
• Chapter 1 & 2 are primarily terminology
• We will come back to Chapter 1• We will have fun in this class• You do not need to memorize
anything
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The role of Managers• DECISION MAKING• PLANNING• DIRECTING OPERATIONS• CONTROLLING
ALL WITHIN A
PRINCIPAL AGENT MODEL
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Managerial Accounting
• Enhances Decision Making• Guides Strategy and Development• Evaluates existing Strategies• Focuses efforts related to
– improving organizational performance– evaluating the contributions of organizational
units & members
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Cost Object
The thing we want to know the cost of.
Can be a product LIKE CHOCOLATE, a service, a department, even this class.
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Cost object can be many things• Could be this course - this session• Could be this course - Managerial
Accounting• Could be the accounting classes in general• Could be the business school as a whole
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You must know what the cost object is!!!!
Changing the cost object changes the nature of the cost analysis!
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Nature of Cost
• Fixed Cost• Variable Cost• Direct Cost• Indirect Cost/COMMON COSTS• NON-VALUE ADDED COSTS• Controllable cost• Uncontrollable Cost
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Manufacturing Cost Classifications
• Direct Materials• Direct Labor• Manufacturing Overhead
• indirect materials• indirect labor• other manufacturing cost
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Economic Characteristics of Cost
• Opportunity cost• sunk cost• incremental cost• average cost• marginal cost
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Video
This company makes a mazak
Use a lot of terms
WIP
CAD
AGV
Count the Direct Labor Folks
Speak with a British Accent
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Thought for the Day
There is no comparison between that which is lost by not trying, and that
which is lost by not succeeding.
Sir Francis Bacon