Friday, May 3, 2019

Cost Data - Accounting: Financial, Cost and Managerial - Revision Articles for Industrial Engineers



Financial Accounting

Industrial Engineering Proper starts from now on. Earlier we covered Principles of Management, Marketing Management, Operations Management and Supply Chain Management. Industrial Engineers provide a service to management and therefore they have to understand these management areas and have to understand opportunities in those management areas to provide industrial engineering services and add value to the value activities (value chain) of the organization.

Industrial engineering is redesign of the engineering products and processes in response to the industry data to make them more profitable and acceptable to the industry stakeholders. Cost data and human factor data are the two most used and applied data in industrial engineering. The definition of Industrial Engineering as "Industrial Engineering is System Efficiency Engineering and Human Effort Engineering" captures both these data - Cost data and Human Factor Data.

Therefore industrial engineers  have to understand the measurement of costs and their presentation in various statements and cost objectives.

16 to 19 April

Accounting: The Language of Business
Measuring Income to Assess Performance - Review Notes

Recording Transactions - Review Notes
Accrual Accounting and Financial Statements - Revision

Statement of Cash Flows - Review Notes
Accounting for Sales - Review Notes

Inventories and Cost of Goods Sold - Review Notes
Long-Lived Assets and Depreciation - Review Notes

4th Week
Liabilities and Interest - Review Notes
Intercorporate Investments and Consolidations - Revision Notes

Financial Statement Analysis - Review Notes


Cost Accounting


Cost Measurement - Essential Activity of Industrial Engineering

Introduction to Cost Terms - Review Notes
Traditional Cost Objectives and Their Utility

Job Costing - Review Notes
Cost Allocation: Joint Products and By Products

Activity-Based Costing and Activity-Based Budgeting
Process Costing - Review Notes

May

First Week


Cost Information for Pricing Decisions
Cost Behavior Analysis and Relevant Costs

Costing for Strategic Profitability Analysis
Cost Information for Customer Profitability Analysis

Costing for Spoilage, Rework and Scrap
Costing for Quality, Time and the Theory of Constraints

Costing for Inventory Management, JIT and Backflush
Cost Information and Analysis for Capital Budgeting

Cost Information for Management Control and Performance Control
Cost Information for Transfer Pricing

Second Week

Managerial Accounting


Managerial Accounting or Management Accounting - Review Notes
Relevant Information and Decision Making - Marketing Decisions

Relevant Information and Decision Making - Production
Relevant Information and Decision Making - HR

The Master Budget - Accounting Information
Flexible Budgets and Variance Analysis - Review Notes

Responsibility Accounting for Management Control
Accounting Information for Management Control in Divisionalized Companies

Capital Budgeting - Accounting and Cost Information


One Year Industrial Engineering Knowledge Revision Plan


January - February - March - April - May - June

July - August - September - October - November - December

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