Koofers

Chapter 12 - Flashcards

Flashcard Deck Information

Class:ACC 312 - FUNDAMENTALS OF MANAGERIAL ACC
Subject:Accounting
University:University of Texas - Austin
Term:Spring 2010
- of -
INCORRECT CORRECT
- INCORRECT     - CORRECT     - SKIPPED
Shuffle Remaining Cards Show Definitions First Take Quiz (NEW)
Hide Keyboard shortcuts
Next card
Previous card
Mark correct
Mark incorrect
Flip card
Start Over
Shuffle
      Mode:   CARDS LIST       ? pages   PRINT EXIT
responsibility accounting the various concepts and tools used by managerial accountants to measure the performance of people and departments in order to foster goal congruence
responsibility center subunit in an organization whose manager is held accountable for specified financial results of the subunit activities... four common types
cost center organizational subunit, such as a department or division, whose manager is held accountable for the costs incurred in the subunit.
revenue center held accountable for the revenue attributed to the subunit
Generated by Koofers.com
profit center an organization subunit whose manager is held accountable for profit
investment center held accountable for the subunit's profit and the invested capital used by the subunit to generate its profit
performance report shoes the budgeted and actual amounts, and the variances between these amountsm of key financial results appropriate for the type of responsibility center involved
cost pool collection of costs to be assigned
Generated by Koofers.com
cost objects the responsibility centers, products, or services to which costs are to be assigned
cost allocation or distribution the process of assigning the costs in the cost pool to the cost objects
allocation base a measure of activity, physical characteristic, or economic characteristic that is associated with the responsibility centers, which are the cost objects in the allocation process
customer profitibility analysis uses the concept of ABC costing to determine how serving particular customers causes activities to be performed and costs to be incurred.
Generated by Koofers.com
grade refers to the extent of a product's capability in performing its intended purpose, in relation to other products with the same functional use.
quality of design how well a product is conceived or designed for its intended use
quality of conformance the extent to which a product meets the specifications of its design
prevention costs the costs of preventing defects
Generated by Koofers.com
appraisal costs the costs of determining whether defects exist
internal failure costs those costs of repairing defects found prior to product delivery
external failure costs cost incurred after defective products have been delivered
total quality management broad set of management and control processes designed to focus the entire organization and all of its employees on providing products or services that do the best possible job of satisfying the customer
Generated by Koofers.com
sustainable development business activity that produces the goods and services needed in the present without limiting the ability of future generations to meet their needs
environmental costs costs dealing with the environment
Generated by Koofers.com

List View: Terms & Definitions

  Hide All 22 Print
 
Front
Back
 responsibility accountingthe various concepts and tools used by managerial accountants to measure the performance of people and departments in order to foster goal congruence
 responsibility centersubunit in an organization whose manager is held accountable for specified financial results of the subunit activities... four common types
 cost centerorganizational subunit, such as a department or division, whose manager is held accountable for the costs incurred in the subunit.
 revenue centerheld accountable for the revenue attributed to the subunit
 profit centeran organization subunit whose manager is held accountable for profit
 investment centerheld accountable for the subunit's profit and the invested capital used by the subunit to generate its profit
 performance reportshoes the budgeted and actual amounts, and the variances between these amountsm of key financial results appropriate for the type of responsibility center involved
 cost poolcollection of costs to be assigned
 cost objectsthe responsibility centers, products, or services to which costs are to be assigned
 cost allocation or distributionthe process of assigning the costs in the cost pool to the cost objects
 allocation basea measure of activity, physical characteristic, or economic characteristic that is associated with the responsibility centers, which are the cost objects in the allocation process
 customer profitibility analysisuses the concept of ABC costing to determine how serving particular customers causes activities to be performed and costs to be incurred.
 graderefers to the extent of a product's capability in performing its intended purpose, in relation to other products with the same functional use.
 quality of design how well a product is conceived or designed for its intended use
 quality of conformancethe extent to which a product meets the specifications of its design
 prevention coststhe costs of preventing defects
 appraisal coststhe costs of determining whether defects exist
 internal failure coststhose costs of repairing defects found prior to product delivery
 external failure costscost incurred after defective products have been delivered
 total quality managementbroad set of management and control processes designed to focus the entire organization and all of its employees on providing products or services that do the best possible job of satisfying the customer
 sustainable developmentbusiness activity that produces the goods and services needed in the present without limiting the ability of future generations to meet their needs
 environmental costscosts dealing with the environment
36, "/var/app/current/tmp/"