- •Солонович т.Ф., Виршиц н.И. The ok accountant успешный бухгалтер
- •Часть 2
- •Contents
- •От авторов
- •Unit 6 cost and managerial accounting
- •Overheads and Their Recovery
- •Cost allocation
- •Adjective/Adverb Choice
- •Project X
- •Unit 7 auditing getting started
- •Reading
- •Auditing
- •Internal Auditors
- •International standards
- •4. Listen again and answer the following questions.
- •1) From what is said and implied in the text, what method of control of auditing exists in Britain now?
- •Unit 8 tax accounting
- •Useful vocabulary
- •Methods of Depreciation
- •Conjunctions
- •Listening
- •Writing
- •M d Tippet
- •Md Tippet
- •Unit 9 accounting ethics
- •Codes of Ethics in Accounting
- •Accounting scandals
- •Supplementary Reading
- •Unit 7 Auditing
- •Audits and their transparency
- •Unit 8 Tax Accounting
- •Airbus's Leahy 'investigated for insider trading'
- •India it boss quits over scandal
- •Implication
- •Parmalat founder given 18-year jail term over fraud
- •Accountants seek to stay glamorous
- •Tapescripts unit 6
- •Answer Key
Supplementary Reading
Unit 6 Cost and Managerial accounting
Managerial accounting provides the accounting information required, by management to plan its future, organize resources, direct activities, and control performance. The goal of achieving a satisfactory financial performance is at the core of managerial accounting. Since every type of organization must be certain that resources are obtained and used in the best way, managerial accounting is universally applicable. Managerial accounting builds on the principles of financial accounting, and the two subjects are similar in that they both involve the same three functions (recordkeeping, performance evaluation, and decision making) characteristic of accounting in general. Financial and managerial accounting are concerned with the stewardship principle and should be developed within the same general accounting system. The major differences between the two subjects relate to their user orientation, freedom of choice/ time frame, restrictive standards, accounting entity, reporting frequency, degree of precision, and use of other disciplines.
The most important characteristics of good managerial accounting information are its relevance, accuracy, timeliness, understandability, and cost-effectiveness. The nature of an organization and the role of management must be considered carefully in applying managerial accounting in the organization. Management provides the structure and direction for an organization with its planning, organizing, directing, and controlling functions. Each of these functions requires decision making based on reliable information.
The controller is the chief accountant for the typical organization and is an integral part of the management team, providing information and assisting in decision making. The controller has staff authority while performing in an advisory capacity. In a large decentralized organization, the controllership function typically is divided into such accounting specialties as budgeting, financial reporting, strategic planning, managerial accounting, taxation, financial statement analysis, and internal auditing.
The Certificate in Management Accounting (CMA) is evidence not only of the diverse skills needed in managerial accounting but also of the subject's recognition as a field of professional study. The combination of a microcomputer and an electronic spreadsheet enables managers to perform managerial accounting functions much more effectively than they could manually. An electronic spreadsheet computer program provides the capability to rapidly manipulate data and predict the impact of future actions.
Cost accounting analyzes a business's costs to help managers control expenses. Traditionally, cost accounting has emphasized manufacturing costs, but it is increasingly concerned with the cost of selling the goods. Good cost accounting records guide managers in pricing their products to achieve greater profits. Also, cost accounting information shows management when a product is not profitable and should be dropped.