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CHAPTER 16. Management Accounting

Chapter 16 Sections

Financial & Managerial

Accounting: The Basis
for Business Decisions
Williams, 17e

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Principles of Accounting I&II

Acc2020-01-Fall2016

ACCOUNTING

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Introduction
Management Accounting: Basic Framework
Accounting for Manufacturing Operations
Concluding Remarks
Chapter 16 Ending
Footnotes
Page 722

AFTER STUDYING THIS CHAPTER, YOU SHOULD BE ABLE TO:

Learning Objectives

LO16-1 Explain the three principles guiding the design of management accounting systems.
LO16-2 Describe the three basic types of manufacturing costs.
LO16-3 Distinguish between product costs and period costs.
LO16-4 Describe how manufacturing costs flow through perpetual inventory accounts.
LO16-5 Distinguish between direct and indirect costs.
LO16-6 Prepare a schedule of the cost of finished goods manufactured.

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COCA-COLA COMPANY
The McGraw-Hill Companies, Inc./Jill Braaten, photographer
The McGraw-Hill Companies, Inc./Jill Braaten, photographer
Page 723
The secret syrup formula for Coca-Cola was created in 1886 by Dr. John S. Pemberton, a pharmacist in Atlanta, Georgia.1 Dr. Pemberton's
partner, Frank Robinson, a management accountant, penned the famous trademark symbol Coca-Cola. In 1891, when Asa Candler purchased
the Coca-Cola business from Pemberton for $2,300, he also recognized the value of the management accounting skills of Frank Robinson. In
1892, Candler and Robinson, along with three other associates, formed the Georgia corporation now known as the Coca-Cola Company.
Today, the Coca-Cola Company produces more than 3,300 products in over 200 countries. Seventy-four percent of Coca-Cola's income is
derived from sales outside the United States. To help manage its global business, the Coca-Cola Company employs thousands of management
accountants in hundreds of countries.

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Table of Contents
CHAPTER 14. Financial Statement Analysis
Front Matter
CHAPTER 15. Global Business and Accounting
CHAPTER 1. Accounting
CHAPTER 16. Management Accounting
CHAPTER 17. Job Order Cost Systems and Overhead
CHAPTER 2. Basic Financial Statements
Allocations
CHAPTER 3. The Accounting Cycle
CHAPTER 18. Process Costing
CHAPTER 4. The Accounting Cycle
CHAPTER 19. Costing and the Value Chain
CHAPTER 5. The Accounting Cycle
CHAPTER 20. Cost-Volume-Profit Analysis
CHAPTER 6. Merchandising Activities
CHAPTER 21. Incremental Analysis
CHAPTER 22. Responsibility Accounting and Transfer
CHAPTER 7. Financial Assets
Pricing
CHAPTER 8. Inventories and the Cost of Goods Sold CHAPTER 23. Operational Budgeting
CHAPTER 9. Plant and Intangible Assets
CHAPTER 24. Standard Cost Systems
CHAPTER 10. Liabilities
CHAPTER 25. Rewarding Business Performance
CHAPTER 11. Stockholders' Equity: Paid-In Capital CHAPTER 26. Capital Budgeting
CHAPTER 12. Income and Changes in Retained
End Matter
Earnings
CHAPTER 13. Statement of Cash Flows
Table of ContentsIndexGlossary

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 2016 McGraw-Hill Education. All rights reserved.

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