1) To provide information useful for making rational investment and credit decisions.
2) To allow investors and creditors to assess the amount, timing, and uncertainty of cash flows.
3) To provide information about the economic resources of a firm and the claims on those resources.
4) To provide information about a firm's operating performance during a period.
5) To provide information on how a firm obtains and uses money and other financial resources.
6) To provide information on how management has discharged its stewardship responsibility to owners and the public.
Management or Cost Accounting Systems and Capital Budgeting :
Management or cost accounting systems are part of an enterprise's information system and refer to the internal cost tracking and allocation systems to track costs and expenditures. These are internal rather than external accounting systems. There are no fixed rules governing how an entity should keep track of cash flows internally, although there are many formal methods available for users. Capital budgeting is basically a form of predictive cost accounting over a set time frame which is used to analyze the costs of alternative projects or expenditures over the specified period of time.
毕业论文 Managerial or cost accounting measures are the predominant financial drivers in day to day business decision making affecting every aspect of the firm's activities. Good cost accounting is vital to understanding the profitability of current activities and to predicting the profitability of future activities. There are many examples of firms who discovered non-profitable services or products once thorough cost accounting procedures were implemented. The bulk of this module will focus on these types of accounting information systems.
The main objectives of managerial/cost accounting are (Hilton, 1988):
1) Providing managers with information for decision making and planning.
2) Assisting managers in directing and controlling operations.
3) Motivating managers towards the organization's goals.
4) Measuring the performance of managers and sub-units within the organization.
Basic cost classifications are demonstrated in Table 1. - Note, these classifications are not exclusive, for example a cost may be fixed and indirect, or variable and direct for example.
Table1. General Cost classifications:
Variable Costs Variable costs change in total in proportion to the level of activity. For example if a carmakers production increases by 5%, its tire costs will increase by about 5%.
Fixed Costs A fixed cost remains unchanged in total as the level of activity varies. For example, the property tax on a rental apartment is the same regardless of the number of building occupants.
Direct Costs A direct cost is the cost of direct labor and material used in making the product or delivering the service.
Indirect Costs/Overhead Costs Indirect costs are costs of an activity which are not easily associated with the production of specific goods or services.
Opportunity Costs The benefit that is sacrificed when the choice of one action precludes an alternative course of action.本文来自优.文,论-文·网原文请找腾讯324,9114
Sunk Costs Costs that have been incurred in the past and cannot be changed by current actions.
1.4 Shortcomings of accounting systems as environmental information systems
National Accounting Systems:
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