F2 Accounting for Management
(Revision Notes)
Prepare by Jane Mai
Accounting for Management
1. Data ≠ Information (1.10)
Data --- process --> information (meaningful for urs)
2. Attributes of Good information (1.1 1.5)
(a) Accuracy
(b) Completeness
(c) Cost-effective
(d) Understandable (clarity)
(e) Relevance
(f) Confidence
(g) Communication
(h) Volume
(i) Timing
(j) Channel of communication
3. Information for Management :Plan （
:Control
:Decision-making
4. Anthony divides Management: (1.2 1.6 1.8 )
Strategic Level :Long-term (2~5 years), Top manager
Tactical level :medium-term (around 1 year), middle manager
Operational level : Routine, Operational staff
5. The difference between financial accounting and management accounting (1.3 1.7 1.9 )
| Management Accounting | Financial Accounting 相照 |
Information mainly produced for | Internal u: eg. Managers and employees | External u: eg. Shareholders, creditors, lenders, banks, government |
Purpo of information | To aid planning, controlling and decision making | To record the financial performance in a period and the financial position at the end of that period 梦9 |
Nature of information | Financial & non-financial information | Financial information |
Legal | None | Limited companies must produce financial accounts 人力资源制度 |
Format | Decide by the management and the most uful way of prenting it | Format and content of financial accounts intending to give a true and fair view should follow IAS and company law |
Time period | Historical and forward-looking | Mainly a historical record |
| | |
others： （ 1.4 ）
Source of Data
1. Primary data vs Secondary data (2.1 2.2 2.4 )
| 孔子是哪里人Primary data | Secondary data |
Definition | - collect for Specific purpo | - collect for some other purpo |
Advantage | - nvestigator knows where the data came from and is aware of any inadequacies or limitation | - Accurate and reliable (relative) - Cheap & convenient |
Disadvantage | - Expen | - Unaware of any limitation |
| | |
其他直接费
2. Sampling (2.3 2.5)
不能生孩子的女人Sample data :
Population:
Sampling frame : is a numbered list of all items in a population
Sampling methods
1.) Probability sampling method
Random sampling
- Free from bias (Equal chance to be lected)
Stratified random sampling
- divide the population into strata or categories.
- requires prior knowledge of each item in the population
Systematic sampling
- lect every nth item after a random start.
- cheap and easy to handle
一年级好词好句- bias
Multistage sampling
- divide population into a number of sub-population and then lecting a small sample of the at random. Each sub-population is then divide further and be lected at a random.
Cluster sampling
- non-random sampling
- lect one definable subction of the population as the sample.
2.) Non-probability method
Quota sampling
- Randomness is forfeited in the interests of cheapness and administrative simplicity
- Bias
- No need sampling frame
Prenting information
(5.1 ~ 5.4)
Simple bar Chart
Component bar chart
Multiple (or compound) bar chart
Pie chart
Line graph
Scatter diagram
Cost classification and cost behavior
Cost unit (3.7 3.12)
Cost center ( 3.11)
- a function or location for which costs are ascertained
Direct cost (3.1 3.2 3.3 3.9)
- Can be traced directly
Indirect cost
- 亭亭五月天Cannot be traced directly
