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After completing your transaction, you can access your course using the section url supplied by your instructor. Skip to main content x Sign In. Zimmerman provides students with a framework for understanding accounting systems and a basis for analyzing proposed changes to these systems.
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Want more information? Our Learning Technology Representatives can help. Download Download PDF. Translate PDF. In the first case, there is more analysis of opportunity costs that are hard to capture with typical accounting information. In the second case, there is less intended interest in opportunity cost and greater emphasis on control. P 1—2: Solution to One Cost System Isn't Enough 15 minutes [Economic Darwinism] The first part of the quote describes the tension and conflict that arises when a single accounting system is used for multiple purposes.
This part of the statement is an accurate description of practice. It does not address the question of how surviving successful companies can compete if a single system "can't perform important managerial functions adequately. Often managers develop their own ad hoc, "off-line" information systems for decision making. These systems include spreadsheets, informal observation, and "walking around. When more emphasis is placed on one purpose taxes , less consideration can be given to other uses internal decision making and control.
In the U. Thus, in the U. Except for the additional bookkeeping costs of producing the two separate sets of reports, tax considerations are predicted to have less influence on the choice of internal and thus external accounting procedures in the U.
The question is raised as to why firms use the same accounting procedures for internal reports as they do for external reports. Or for that matter, why do tax laws and external financial reporting considerations have any effect on internal accounting procedures?
Clearly there are additional bookkeeping costs for maintaining multiple sets of accounts. But also, there are confusion costs and, in many instances, firms explicitly link senior executive compensation to externally reported financial statements. Such explicit linkage of executive pay to externally reported net income presumably exists to control agency costs between management and shareholders. Once senior management performance and rewards are linked to external reports, the internal reporting system will become linked to the external reports and basically less consideration will be given to choosing accounting procedures that aid in internal decision making and internal control.
Because they cannot rely as much on their accounting systems for internal uses because more weight is placed on using accounting procedures to reduce taxes , Japanese managers are more likely to use non-accounting- based systems for internal decision making and control. Historical costs are of limited use in making planning decisions in a rapidly changing environment. With changing products, processes and prices, the historical costs are inadequate approximations of the opportunity costs of using resources.
Historical costs may, however, be useful for control purposes, as they provide information about the activities of managers and can be used as performance measures to evaluate managers. The purpose of accounting systems is to provide information for planning purposes and control. Although historical costs are not generally appropriate for planning purposes, additional measures are costly to make. An accounting system should include additional measures if the benefits of improved decision making are greater than the costs of the additional information.
Two incentives exist: sales people will under-forecast future sales and they have little incentive to sell more than the budget. This firm tries to use the budget for two functions: decision making and control. However, these same forecasts after revision by supervisors are used as part of the compensation scheme to motivate the sales people to achieve their goals. P Solution to Golf Specialties 20 minutes [Average versus variable cost of an incremental order] a.
Given that the variable cost per head cover is 1. Since Kojo is willing to pay 2 euros per head cover or euros for covers, by accepting this order GS makes 90 euros a week.
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