Management and Cost accounting Flashcards
What are the three major objectives of a manager?
Sv:
To plan, to direct and motivate, and to control
What does “Burgeoning” mean?
Sv
Spirende, Blomstrende
What does “ Pilferage” mean?
Sv.
Tyveri
Does management accounting mainly focus on the past, or the future?
Sv:
Future, planning, implementing and controlling.
What does “ Peculiarities” mean?
Sv:
Særegenheder/ særlige kendetegn
What does the term “chain of command” cover?
Sv:
Formal lines of reporting and communication and responsibility and authority, within an organization. This is outlined in an organisations “Organization Chart”.
What does “complacent” mean?
Sv:
Selvtilfredse
What does “dissemination” mean?
Sv: Udspredelse/ Formidling
What does “laundering” mean?
Sv:
Hvidvaskning
What is a “merchandising Company”?
Sv:
En handelsvirksomhed
What does “alleged” mean ?
Sv:
angivelige
What is “Overhead Costs”?
Sv:
Indirekte omkostninger
What does “conventionally mean”?
Sv:
Traditionelt / Almindeligvis
What is an “assembly-line”?
Sv:
Et Samlebånd
What does “ Clerical” mean?
Sv:
kontorpersonale
What does “Billing Costs” mean ?
Sv:
Fakturerings omkostninger
What does “lubricants” mean?
Sv:
Smøremidler
If the Sales Activity rises by 10 % in a company, how is the variable Costs affected on a pr. unit basis?
Sv:
It is not affected, variable costs are always constant on a pr. unit basis.
Explain what a “Common Cost” is?
Sv:
It is a cost that can not easily be traced to a product, because the cost is not caused by the cost object.
How is Total manufactoring costs found?
Sv:
By adding up all Direct materials with Direct Labour and Manufacturing Overhead.
How do you compute COGS?
Sv:
Cosgs is equal to “beginning stock of finished goods” + “Costs of goods manufactured” - “ending stock of finished goods”.
What does “WIP” stand for?
Sv:
Work In progress
