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1 The Accountant's Role in the Organization 28
Xerox Keeps Its Eye on Key Success Factors: Copier Prices
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Are Down, but Profits Are Up Management Accounting, Financial Accounting, and Cost Accounting 29 Strategic Decisions and the Management Accountant 31 Value-Chain and Supply-Chain Analysis and Key Success Factors 32 Value-Chain Analysis 32 Supply-Chain Analysis 33 Key Success Factors 33 Decision Making, Planning, and Control: The Five-Step Decision-Making Process 35 Key Management Accounting Guidelines 37 Cost-Benefit Approach 38 Behavorial and Technical Considerations 38 Different Costs for Different Purposes 38 Organization Structure and the Management Accountant 39 Line and Staff Relationships 39 The Chief Financial Officer and the Controller 39 Professional Ethics 40 Concepts in Action: Management Accounting Beyond the Numbers • Ethical Guidelines 41 Typical Ethical
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Challenges 43
Problem for Self-Study 44 I Decision Points 44 I Terms to Learn 45 I Assignment Material 45 I Questions 45 I Exercises 46 I Problems 48 I Collaborative Learning Problem 50
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Relationships of Types of Costs 60 Total Costs and Unit Costs 60 Unit Costs 60 Use Unit Costs Cautiously 61 Manufacturing-, Merchandising-, and Service-Sector Companies 62 Types of Inventory, Inventoriable Costs, and Period Costs 62 Types of Inventory 62 Commonly Used Classifications of Manufacturing Costs 62 Inventoriable Costs 63 Period Costs 63 Illustrating the Flow of Inventoriable Costs and Period Costs 64 Manufacturing-Sector Example 64 Recap of Inventoriable Costs and Period Costs 66 Prime Costs and Conversion Costs 68 Measuring Costs Requires Judgment 69 Measuring Labor Costs 69 Overtime
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