ACCA F2chap1讲义.pptVIP

Which of the following statements about management accounts is/are true? i) There is a legal requirement to prepare management accounts. ii) The format of management accounts is largely determined by law. iii) They serve as a future planning tool and are not used as a historical record. A (i) and (ii) B (ii) and (iii) C (iii) only D None of the statements are correct. 3.4 Cost accounts Cost accounting is part of management accounting. Cost accounting provides a bank of data for the management accountant to use. 3. Financial accounting and cost and management accounting * * * ? 2002 IBM Corporation Chap1: Information For Management Chap1: Information For Management Information Planning, control and decision making Financial accounting and cost and management accounting Presentation of information to management Study guide 1. Information 1.1?? Data Data is the raw material for data processing, they are the facts, events and transactions and so forth. Information is data that has been processed in such a way as to be meaningful to the person who receives it. Information is anything that is communicated. It is sometimes referred to as processed data. 1.2?? Information 1.3?? Qualities of good information Relevance Completeness Accuracy Clarity Confidence Communication Volume Timing Channel of communication Cost 1. Information Good information should be relevant, complete, accurate, clear, it should inspire confidence, it should be appropriately communicated, its volume should be manageable, it should be timely and its cost should be less than the benefits it provides. It should be communicated to the right person. It should be understandable by the recipient. It should always be completely accurate before it is used. True or False? 1.4?? Importance of information Reporting result Decision making 1. Information 1.5?? Sources of information Financial accounting records: ledgers, vouchers other documents Personnel records: payroll system Produ