Strategic Cost Management
cause from the greek word "STRATEGOS" which means "general's art".
Strategy
production ( merchandising & manufacturing)
Cost
general for opex
Expense
"STRATEGOS" which means
General's Art
it is the process of leading and controlling if a group of people, resources or an organization in totality to achieve the goals and objective of the entity in pursuit of success and value creation.
Management
four management fuction
planning, organizing, leading, controlling
Coordinating activities and resources, and delegation of responsibilities.
Organizing
Involves performence evaluation as an action to take to consider whether actual operations accomplished perfectly the goals that were planned.
Controlling
Determing proper courses of action strategizing tactics to enforce in order to achieve tbe goals set.
Planning
managing and guidling people, along wuyh proper motivationand direction.
Leading
Strategic Placement of an Entity
Stategic Cost Management
Cost Information
Cost Accounting
Decision Making
Cost Management
Managing costs so that an entity can sell products at the lowest market price.
Cost Leadership
managing costs through an entity strategy to become a market provider of unique product in the market.
Product Differentiation
The user of accounting information to serve as a primary tool for the internal users of accounting information to make decision that would add value to the betterment of the entity.
Management Accounting
The common officer that involves in an entity of financial information
CEO
CFO
Treasurer
Controller
Standardized financial reporting through GAAP
Financial Accounting
Specialized reporting for managerial decision making
Management Accounting
product documents of one system
that become source documents for
another system.
Turnaround Document
result of transaction processing
rather than the triggering mechanism
for the process.
Product Document
A record of a chronological entry or the event is recorded in a
journal in chronolo
Journals
Used to record specific classes of
transactions that occur in high
volume.
Special Journal
the firm to record nonrecurring,
infrequent, and dissimilar
transactions.
General Journal
Is a book of accounts that reflects the financial effects of the firm' s transactions after they are posted from the various journals.
Ledgers
TWO BASIC TYPES OF LEDGERS
Subdiary Ledgers
General Ledgers
sed for tracing transaction from source documents to the
financial statement.
Audit Trail
FOUR MAGNETIC FILES:
Master Files
Transaction Files
Refference Files
Archive Files