成本管理控制和利润外文翻译Word格式.docx
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成本管理控制和利润外文翻译Word格式.docx
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ControlandProfitability
Allexecutivesandmanagersaccountforcost.Invariousways,allbusinessprofessionalsmanagecost,andmostmanagersengageincapitalinvestmentdecisions,forecasting,pricing,andproductorservicemanagement.Allthesebusinessactivitiesaredeeplyembeddedintheworkofcostaccounting.Cost-relatedtasksconsumeasignificantamountofmanagementtimeatalllevelsoftheorganization.
Abusinessprofessionalmustunderstandtheorganization’scostaccountingpracticestocompetentlymanageaspecifiedareaandunderstandhowpersonalaccountabilitiesarecalculatedandtracked.AnaccountinginstructorwithconsiderableexperienceinthefieldalwaysgaveherMBAstudentsthesameadvice,“Learnthelanguageofaccounting.It’sthelanguageofbusiness,andifyoudon’tlearnit,somelittlebeancounterwearingagreeneyeshadewillblowyourgrandmarketingoroperationsidearightoutofthewater!
”
Bellwetherorganizationsthatemployadvancedmanagementsystemsstillruntheiraccountingsystems—“keeptheirbooks”—accordingtobasiccostaccountingprinciples.Importantly,conventionalpracticesshapeadvancedtechniques;
therefore,morematuremethodscannotbefullyunderstoodwithoutreferencetotheirpredecessors.Asabaseline,anorganization’sexecutivesmustestablishmanagement/costaccountingpracticefoundationsthatservedecisionmakingandoperations,first,andfinancialaccounting,second,beforemovingtoadvancedsystems.Toaccomplishthis,executivesneedtheabilitytodistinguishsystemalternatives.Thischapteraddressestheserequirements.
TheProfitImperative:
DefiningtheObjectivesofCostManagement
Profitability,variouslyinterpretedasnetincome,equityvalue,andreturnoninvestmentisaresults-focusedindicatorwatchedmorecarefullythananyotherperformancemeasurementcategory.Butifthesemeasurementsdepictresults,whatmeasurementsshowthedimensionsofperformancefortheprocessesthatleadtothoseresults?
Atthecore,profithasonlytwocomponents:
revenueandcost.Tounderstandhowcostmanagementsystemworks,herearesomekeytermstobefamiliarwith:
•Cost.Anoutflowofaresource,whetherincash,asapayable,arenderedservice,orasatradeorbarter,thatisconsciouslymadewithexpectationofbenefittotheorganization:
goods,property,orservicesacquired.
•Costaccounting.Theaccountingprofessionisdividedintotwomajorbranches:
(1)financialand
(2)management(ormanagerial)accounting.Thelaterissynonymouswithcostaccounting.Theterm“management”referstothecomparativelyinternalfocusofthecostaccountingfieldascomparedwiththeexternalfocusoffinancialaccounting.Theword“traditional,”whenusedtodescribecostaccountingmethods,referstothestandardpracticesthataretaughtinbasicmanagementaccountingcoursesandpracticedinmostNorthAmericanfirms.Thestandardpracticesincludecostsystemsandprocedures,methodsofdeterminingcosts,pointsofcostaccountability,forecasts,costcomparisons(e.g.,standardcostsystems),andbudgets(operational,project,andcapital).Thepurposeofcostaccountingistoassistinthewiseandprudentstewardshipofoverallorganizationalresources.
•Costandexpensedistinctions.Bothcostsandexpensesareexpenditures.Fortheremainderofthisbook,theword“expenditures”willbeusedtoidentifyanorganization’stotaloutflowofassetsinallforms.Chapter2willfurtherclarifyimportantdistinctionsbetweencost,expense,andexpenditure.Inthestandardincomestatementofafor-profitfirm,coststypicallyrefertothecategoriesofmaterial,labor,andoverheadappearingabovetheincomestatement’sgrossmarginline(revenueminuscost).SeeExhibit1.1foranexampleoftheincomestatementcomponentsforamanufacturingfirm.Expenditurestypicallycalledoperatingexpensesaredisplayedbelowthegrossmarginline.Ontheincomestatement,thematerial,labor,andoverheaditemsarecalledcostofgoodssold(COGS).Operatingexpensesconsistofmonetaryorassetoutlaysforgeneral,administrative,selling,marketing,andotherfunctionsdeemedtobeindirectlyrelatedtoproduction.OperatingexpensesarecommonlyabbreviatedasSG&
Aforsales,generalandadministrative.
•Costmanagement.Theuseofcostaccountingsystemsandmethodstoguidecurrentandfutureoperationstowardspecifiedobjectives;
theanalysisandinterpretationofcostdataiscriticaltothedecision-makingprocess.
•Costmanagementsystem(CMS).Anexpenditureinformationarchitecturethattracks,monitors,reports,andprovidesdecision-qualityinformationandinsights.ACMSislessconstrainedbyexactingprofessionalstandardsandreportingformatsthanfinancialaccounting;
therefore,aCMScanandshouldbecustomizedtomatchanorganization’sinternalenvironmentandspecificcoststructures.
ACMSsetsdirectionforresourceconsumptionprioritiesandmakescoursecorrectionsbyemphasizingoperationsfirstandaccountingpracticessecond.ACMSspecificallyanswersthedemandsoftheprofitimperativewhenitalignsemployeespendingbehaviorswiththeorganizationalstrategy.ThepurposeoftheCMSistounderstandthenatureandbehaviorofcost,andtherebymanagevaluableassetswiselythroughoptimizinglimitedresources.
ThechiefCMSresponsibilityistopromoteimprovementincoststructure.TheCMSshould:
•Supportunderstandingofthenatureandbehaviorofcost(andthehumansdoingthespending).
•Promote,track,andgivefeedbackonvaluecreationandcontinuousimprovement.
•Assistmanagementinwiseuseofresources.
•Costtypes.Managementaccountantscreatedcosttypesinanattempttounderstandthenatureandbehaviorofdifferentresources.Costtypesaredesignationsgiventocategoriesofresourceexpenditures.Theyarebasedonassumptionsaboutthewaysthatresourcesareconsumedinrelationtotheactivitiestowhichtheyareapplied.Theyarealsobasedonthepurposesforwhichtheresourcesareused.Sometraditionalcosttypesinclude:
•Fixed.Costsassumednottovarywithproduction/serviceunitvolume
•Variable.Costsassumedtovarywithproduction/serviceunitvolume
•Semi-fixed/variable,alsocalledstep-fixed/variable.Coststhatvaryatincrementalvolumelevels
•Direct.Coststhatcanbeclearlylinked,andthereforeassignedto,specificproduct/serviceunits
•Indirect.Coststhatcannoteasilybelinkedtospecificproduct/serviceunits,andtherefore,mustbeallocatedtoproduction/servicesbasedonaselectedcostdriver
FinancialAccounting
Financialaccountingisthebranchoftheaccountingfieldconcernedwithformal,aggregatereportingoftransactionsrelatedtotheincomestatement(revenueminusexpenseequalsprofit/loss),thebalancesheet(assets,liabilities,andowners’equity)andotherrelatedstatements(e.g.,workingcapital,cashflow).Standardreportformsusedacrosscompaniesandanexternal,shareholderfocus,characterizefinancialaccounting.Theprimarystatementinfinancialaccountingisthebalancesheet.SeeExhibit1.2foranexampleofthebalancesheetcomponentsforamanufacturingfirm.ThisexhibitisbestreadasacompaniontoExhibit1.1tocomparesthefundamentalsimilaritiesanddifferencesinthesetwoessentialreportingsystems.
Value
Whenaccountantstalkaboutvaluetheyreferto“anypreferredobjectorinteresttherein”;
andaccountingvaluationis“ajudgmentexpressingorimplyingpreference,orrelativeapprovalordisapproval.”Organizationsexisttobecometheproviderofpreferencebyconveyingvaluetocustomers,clients,andconstituents.Thisisastrueofaspiritualorganizationwithahumanitarianmissionasitisofalargecorporationfocusedchieflyonshareholderwealth.
Thepathtovalueisdifferentforeachorganization,andvaluehasmanydefinitionsbeyondthoseoftheaccountant.Inthelasthalfofthetwentiethcentury,thefocusonvaluebecamerootedintheideaofcreatingshareholdervalue.Whatdocustomers,shareholdersandemployeesvalue?
Whatdotheyreallywant?
Howcanwedifferentiateourselvesfromthecompetitorintermsofvalue?
Shouldwebeasconcernedaboutinternalconstituents(i.e.,employees)asweareaboutcustomersandshareholders?
Howdoalltheconverginginterestsofthosewithastakeintheorganization’ssuccessorfailureworktogethertocreateamutuallysatisfyingsenseofvalue?
Noneofthesequestionshasaneasyanswer,butonefactiscertain:
Thefirstandmostcommoncauseofenterprisefailureis,simply,over-spending—abasicfailuretomanageexpendituresflowingoutandrevenuesareflowingin.Thesolutiontooverspendingbehaviorsinvolveslittlemorethantheskillsetrequiredtobalanceacheckbook.Creatingvalueforthecomplexorganizationrequiresclearcostmanagementobjectivesembeddedinacostmanagementsystem.
CostManagementObjectives
Nearlyallbusinessprofessionalsknowthemajorcomponentsofageneralledger(G/L)system,oratleasttwooftheimportantreportsgeneratedbyit:
theincomestatementandthebalancesheet.Farfewermanagerscandescribeacostmanagementsystem—andwithgoodreason.AneffectiveCMSiscustomizedtomatchanorganization’sinternalenvironmentandspecificcoststructures.Whileanexperiencedfinancialprofessional,andmanymanagers,canmovefromcompanytocompanyandquicklyunderstandthefinancialstatementsofeach,evenpracticedaccountantsneedconsiderablymoretimetounderstandtheintricaciesofdifferentcostmanagementsystemsfromcompanytocompany.ACMSislessconstrainedbyexactingprofessionalstandardsandreportingformatsthanarefinancialsystems,withafewexceptionsli
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