Samenvatting
Management accounting
Management accounting = measures and reports financial and non-financial information and
helps and motivates managers to make good decisions to fulfill an organization’s goals.
Cost accounting = measures and reports financial and non-financial data that relates to the
cost of acquiring or consuming resources by an organization.
Management accounting kan 2 rollen innemen:
Decision facilitating link tussen strategie en financiële controle versterken
Decision influencing principaal en agent beïnvloeden, 3 onderdelen: motivating
employees, coordinating among departments en controlling performance.
Management accounting meer strategisch en lange-termijn en ook steeds vaker niet-
financieel.
Nettowinst na het openen van een webwinkel bij een schoenenwinkel. Lijkt alsof nettowinst
hoger wordt, maar bestaande winkelklanten switchen naar webshopklanten. In real life daalt
de nettowinst. Probleem = product kannibalisatie (switch naar online aankopen). Lange
termijn potentieel van webshop = overleven.
In webshop uitbreiden = Opportunity cost
Strategic management accounting = a type of accounting that focuses not only on internal
factors of a company, but factors that are external. This includes industry-wide financials,
averages and upcoming trends
Market trends
Predictors for financial results/ KPI
Financial and non-financial strategy (Balanced scorecard)
Risk management
Long-term perspective
Different types of responsibility centers
Cost center: accountable for costs
Revenue center: accountable for revenues
Profit center: accountable for revenues and costs
Investment center: accountable for revenues, costs and investments
Categories of stock
Direct materials
Work-in-progress: used to calculate the cost of goods manufactured
Finished goods: used to calculate the cost of goods sold
Costs = resources sacrificed to achieve a given objective
Opportunity cost = de winst die niet gerealiseerd wordt door het gemiste alternatief
Actual costs = zoals ze zijn
, Budgeted = vooraf verwachte kosten
Choice of responsibility centers is based on the controllability principle = keep
managers/employees accountable for the items they can control
Kosten
Direct materials
Direct labor
Manufacturing overhead
Cost = monetary values of all resources needed to achieve the cost object
Cost accumulation = stage 1 = optellen
Cost assignment = stage 2 = tracing and allocating
Time span classification depends on the time horizon, costs can be classified as fixed in
short run, but variable in the long run
Relevant range costs can be variable in a certain range, but require additional fixed costs
when range is exceeded
Cost estimation approaches
Industrial-engineering or work-measurement method; step by step monitoring and
measuring of inputs, time-consuming and often not feasible
Conference method; use estimations on the basis of analysis and opinions of experts
from different areas, quick but highly dependent on experts input
Account analysis method; classification in variable, fixed, mixed cost drivers, theory
driven but can be subjective, widely used in practice
Quantitative analysis; data-driven classification, cost driver and cost of a cost object
High-low method: lowest value cost driver and highest value cost driver
B = hoogste-laagste/ hoogste-laagste number of meals = variabele kosten
Dan A berekenen (intercept) = vaste kosten
Job costing systems = cost objects are individual units, batches or lots of a distinct product or
service (called a job)
Process-costing systems = cost objects are identical or similar units, product, or services
(mass production)
Hybrid systems = combination of job- and process-costing
Job-costing
1. Identify cost object
2. Identify direct costs of the job
3. Trace direct costs to the job
4. Accumulate overhead costs in cost pools
Management accounting
Management accounting = measures and reports financial and non-financial information and
helps and motivates managers to make good decisions to fulfill an organization’s goals.
Cost accounting = measures and reports financial and non-financial data that relates to the
cost of acquiring or consuming resources by an organization.
Management accounting kan 2 rollen innemen:
Decision facilitating link tussen strategie en financiële controle versterken
Decision influencing principaal en agent beïnvloeden, 3 onderdelen: motivating
employees, coordinating among departments en controlling performance.
Management accounting meer strategisch en lange-termijn en ook steeds vaker niet-
financieel.
Nettowinst na het openen van een webwinkel bij een schoenenwinkel. Lijkt alsof nettowinst
hoger wordt, maar bestaande winkelklanten switchen naar webshopklanten. In real life daalt
de nettowinst. Probleem = product kannibalisatie (switch naar online aankopen). Lange
termijn potentieel van webshop = overleven.
In webshop uitbreiden = Opportunity cost
Strategic management accounting = a type of accounting that focuses not only on internal
factors of a company, but factors that are external. This includes industry-wide financials,
averages and upcoming trends
Market trends
Predictors for financial results/ KPI
Financial and non-financial strategy (Balanced scorecard)
Risk management
Long-term perspective
Different types of responsibility centers
Cost center: accountable for costs
Revenue center: accountable for revenues
Profit center: accountable for revenues and costs
Investment center: accountable for revenues, costs and investments
Categories of stock
Direct materials
Work-in-progress: used to calculate the cost of goods manufactured
Finished goods: used to calculate the cost of goods sold
Costs = resources sacrificed to achieve a given objective
Opportunity cost = de winst die niet gerealiseerd wordt door het gemiste alternatief
Actual costs = zoals ze zijn
, Budgeted = vooraf verwachte kosten
Choice of responsibility centers is based on the controllability principle = keep
managers/employees accountable for the items they can control
Kosten
Direct materials
Direct labor
Manufacturing overhead
Cost = monetary values of all resources needed to achieve the cost object
Cost accumulation = stage 1 = optellen
Cost assignment = stage 2 = tracing and allocating
Time span classification depends on the time horizon, costs can be classified as fixed in
short run, but variable in the long run
Relevant range costs can be variable in a certain range, but require additional fixed costs
when range is exceeded
Cost estimation approaches
Industrial-engineering or work-measurement method; step by step monitoring and
measuring of inputs, time-consuming and often not feasible
Conference method; use estimations on the basis of analysis and opinions of experts
from different areas, quick but highly dependent on experts input
Account analysis method; classification in variable, fixed, mixed cost drivers, theory
driven but can be subjective, widely used in practice
Quantitative analysis; data-driven classification, cost driver and cost of a cost object
High-low method: lowest value cost driver and highest value cost driver
B = hoogste-laagste/ hoogste-laagste number of meals = variabele kosten
Dan A berekenen (intercept) = vaste kosten
Job costing systems = cost objects are individual units, batches or lots of a distinct product or
service (called a job)
Process-costing systems = cost objects are identical or similar units, product, or services
(mass production)
Hybrid systems = combination of job- and process-costing
Job-costing
1. Identify cost object
2. Identify direct costs of the job
3. Trace direct costs to the job
4. Accumulate overhead costs in cost pools
