By Jerol.. Zimmerman
Accounting for determination Making and keep an eye on offers scholars and bosses with an figuring out appreciation of the strengths and boundaries of an organization’s accounting approach. This publication presents a framework for wondering accounting platforms and a foundation for examining proposed alterations to those structures. The 7th version demonstrates that managerial accounting is an essential component of the firm’s organizational structure, not only an remoted set of computational issues. the aim of this article is to supply scholars and bosses with an knowing and appreciation of the strengths and boundaries of an organization’s accounting procedure, thereby letting them be extra clever clients of those structures. the most goal proposed by way of the writer continues to be in tact for the 7th variation.
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Extra resources for Accounting for Decision Making and Control, 7th Edition
Besides the data provided above, what other factors should GS consider before making a decision to accept Kojo’s offer? P 1–9: Parkview Hospital Parkview Hospital, a regional hospital, serves a population of 400,000 people. The next closest hospital is 50 miles away. Parkview’s accounting system is adequate for patient billing. The system reports revenues generated per department but does not break down revenues by unit within departments. For example, Parkview knows patient revenue for the entire psychiatric department but does not know revenues in the child and adolescent unit, the chemical dependence unit, or the neuropsychiatric unit.
This range between output levels X and Y is called the relevant range. The relevant range encompasses the rates of output for which the sum of fixed and variable costs closely 4 While most managers understand intuitively the difference between fixed and variable costs, not everyone does. When asked the difference between a fixed cost and a variable cost, one employee replied, “A fixed cost? ” See R Suskind, “Guys Holding Axes and Chainsaws Get to Use Any Name They Like,” The Wall Street Journal, February 26, 1992, p.
Suppose $4 million was spent on new software that doesn’t work and the firm buys a commercial package to replace it. The manager responsible for the failed software development will be held accountable for the failure and will have incentives to consume more firm resources trying to either fix it or cover up its failure before this knowledge becomes widely known. The next example applies the opportunity cost concept to evaluating alternatives regarding labor. Opportunity cost of labor Suppose a firm’s work force cannot be changed because of existing labor agreements.