1 Managerial Accounting and the

Business Environment
Year level / Semester 3rd year 1st sem

subject

nature of topic theory+problem

notes app

stage ankified

ref. materials

RRT | recall level mastered

RRT | Last studied

RRT | remarks

Created @July 25, 2022 9:09 AM

󾠮 understanding stage (read with the intention of understanding(not memorizing

bec u will eventually remember in the next stage)

Scope the subject

Turn the content to active recall questions

watch recorded lecture (kasi nawalan ng net neto na time)

Materials used 🥑
1. Primary

daigler materials

book - discussions by maam posted in daigler also came from the

book so if may hindi ka gets sa lecture, mag base sa book
Chapter 1 sa book

1 Managerial Accounting and the Business Environment 1

 2. Secondary (to strengthen the connections from the primary)—ie. Lectures,
ppt

wrap your head around difficult areas

TO-MASTER/do-not-know list (jic may lapses ka na need i-master)

󾠯 remembering stage (since na understand mo naman na, ang goal nito is para
mabilis nalang ang pagsagot. parang yung understanding mo of something eh
magttrigger pagdating sa exam(since exams is a matter of speed and accuracy)

When it’s time to revise, test yourself repeatedly with:

TESTBANK QUESTIONS

When revising, interleave your practice of problems and assess using RRT

my study process so far: i write the pre-made self-test questions at the end of each
chapter so somehow, i atleast think im on the right path in terms of asking the right
questions parang it’s like a guide for me since im going to eventually rephrase the
questions based on my own understanding

TESTBANK!!!

Self-test questions
What is managerial accounting?

1 Managerial Accounting and the Business Environment 2

 Comparison of managerial and financial accounting

3rd bullet pertains to relevance of data

4th bullet - pertains to kung gaano ka accurate ang finofocus pag mag rereport
ng financial info

How does managerial accounting fits in the work of management?

they help carry out three main activities:

planning

1 Managerial Accounting and the Business Environment 3

 this is a detailed plan for the future that is usually expressed in formal
quantitative terms

budget

controlling

1 Managerial Accounting and the Business Environment 4

 decision making

Management accounting in the management process

Role of a management accountant in the organization

1 Managerial Accounting and the Business Environment 5

 product cost - cost incurred to produce a product

period cost - cost incurred indirectly to produce a product such as overhead costs
(non manufacturing)

1 Managerial Accounting and the Business Environment 6

 prime cost = direct material + direct labor

conversion cost = direct labor + factory overhead

variable costs - expenses that are dependent to a cost driver

may gastos lang pag may activity

formula:

fixed costs - not dependent to a cost driver

tubig, may bayad parin kahit di ginamit

mixed costs - has both the characteristics of variable and fixed costs.

how?

ie. utilities. pag nagstay kami sa davao ng 1 month at walang tao dito sa bo4
buong buwan, pag uwi from davao at pagbasa sa bill BOOM may babayaran
parin. may fixed portion.

ie. sa mga taxi, may min 40 pesos di pa umaandar

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