IDP (Finance Value Mgt) - Day 2 Recap

Static picture or snapshots of the company at a particular point in time. It is usually constructed during the end of the period of time

(a year, a quarter, a month)

• Income Statement

• Cash Flow

• Funds Flow

• Balance Sheet

FILL IN THE BLANK: Direct Cost are costs that are directly ______ to the production of the goods or providing the service

• SHARED

• ALLOCATED

• TRACEABLE

• DISTRIBUTED

This is the type of cost that would DIRECTLY and PROPORTIONATELY change as business activity, sales volume or production levels change

• Standard Cost

• Engineered Cost

• Variable Cost

• Relevant Cost

Costs that are SHARED by the products or services, the once that have not been directly traced to the production of goods and delivery of service.

• Allocated Cost

• Total Cost

• Variable Cost

• Indirect Cost

Refers to an accounting method used to allocate the cost of a tangible or physical asset over its useful life.

• Allocation

• Depreciation

• Distribution

• Prayers

This is used by management accountants when making business decisions oftentimes with several alternatives or options, that would have implications in the future.

• Business Planning

• Banking and Finance

• Differential Accounting

• Economic Trend

The various types of production processes used by companies can be classified into:

• Budget, Action Plan and Programs, Outcome/KPI

• Production Line, Production Assembly, Managing Production and Group Production

• Structure, Strategy and Service

• Unit Production, Batch Production, Process Production and Assembly Line Production

______ is the process of DETERMINING THE RESOURCES that should be RAISED AND ALLOCATED to the various program, departments, products, and services of the enterprise

• Budgeting

• Planning

• Outsourcing

• Servicing

TRUE OR FALSE: A budget covers a short period of time

• TRUE

• FALSE

The ______ ______ contains the expenditure and revenue generated from the daily business functions of the company.

• Cash Flow

• Dividends

• Operating Budget

• Goods Produced