Đang chuẩn bị liên kết để tải về tài liệu:
Lecture Accounting: Tools for business decision making (5th edition): Chapter 22 - Kimmel, Weygandt, Kieso

Chapter 22 - Budgetary control and responsibility accounting. After reading the material in this chapter, you should be able to: Describe budgetary control and static budget reports, prepare flexible budget reports, apply responsibility accounting to cost and profit centers,. | BUDGETARY CONTROL AND RESPONSIBILITY ACCOUNTING Accounting, Fifth Edition 22 After studying this chapter, you should be able to: Describe the concept of budgetary control. Evaluate the usefulness of static budget reports. Explain the development of flexible budgets and the usefulness of flexible budget reports. Describe the concept of responsibility accounting. Indicate the features of responsibility reports for cost centers. Identify the content of responsibility reports for profit centers. Explain the basis and formula used in evaluating performance in investment centers. Learning Objectives Preview of Chapter 22 Accounting Fifth Edition Kimmel Weygandt Kieso The use of budgets in controlling operations is known as budgetary control. Takes place by means of budget reports which compare actual results with planned objectives. Provides management with feedback on operations. Budget reports can be prepared as frequently as needed. Analyze differences between actual and planned results and determines causes. LO 1 Describe the concept of budgetary control. Budgetary Control Budgetary control involves the following activities. Illustration 22-1 LO 1 Describe the concept of budgetary control. Budgetary Control Works best when a company has a formalized reporting system which: Identifies the name of the budget report. States the frequency of the report. Specifies the purpose of the report. Indicates recipient(s) of the report. LO 1 Describe the concept of budgetary control. Budgetary Control Partial budgetary control system for manufacturing company. Illustration 22-2 LO 1 Describe the concept of budgetary control. Budgetary Control Budgetary control involves all but one of the following: Modifying future plans. Analyzing differences. Using static budgets. Determining differences between actual and planned results. LO 1 Describe the concept of budgetary control. Review Question Budgetary Control Static budget is a projection of budget data at one level of activity. When | BUDGETARY CONTROL AND RESPONSIBILITY ACCOUNTING Accounting, Fifth Edition 22 After studying this chapter, you should be able to: Describe the concept of budgetary control. Evaluate the usefulness of static budget reports. Explain the development of flexible budgets and the usefulness of flexible budget reports. Describe the concept of responsibility accounting. Indicate the features of responsibility reports for cost centers. Identify the content of responsibility reports for profit centers. Explain the basis and formula used in evaluating performance in investment centers. Learning Objectives Preview of Chapter 22 Accounting Fifth Edition Kimmel Weygandt Kieso The use of budgets in controlling operations is known as budgetary control. Takes place by means of budget reports which compare actual results with planned objectives. Provides management with feedback on operations. Budget reports can be prepared as frequently as needed. Analyze differences between actual and planned results