Karen Grossman Tabak

1
Karen Grossman Tabak

• ABAC 2210 phone [phone]
• Office Hours Tuesday Thursday
• but PLEASE schedule an appointment if you can
  529-9418
• tabak_at_maryville.edu
• accweb.itr.maryville.edu/tabak
• D2L

2

• We will be using a seating chart
• Please decide where you want to sit sit there
  next class
• There are advantages disadvantages to the seats.

3
Rules of the Room

• Respect Equipment
• Respect each other
• Remember you are here to learn
• Dont rely on equipment
• Backup! Backup! And Backup again!

4
Homework Manager

• Lets get registered
• How it works
• If you want to do well do it with the book
  first
• On the Syllabus
• Back UP
• Bring your book to class
• 10 AM Eastern Time

5
Other Homework

• Whats not on Homework Manager

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Rules for this Class

• Come to class (preferably, on time!!!)
• Do your homework - before class!
• ALWAYS CHECK THE FRONT TABLE FOR HANDOUTS!!!!
• Act like you are here to learn. (EVEN ON DAYS YOU
  ARE NOT IN THE MOOD - PRETEND IF YOU MUST.)
• Ask about ANYTHING YOU ARE NOT SURE OF (Remember,
  you are here to learn!!)
• Dont make fun of my inability to spell.
• Dont make fun of my inability to add without a
  calculator.
• Do not play games nor search the internet during
  class

7
RULES ON HOMEWORK

• Do the HOMEWORK
• DO NOT PLAGIARIZE MY WORK
• I WILL COLLECT HOMEWORK OCCASIONALLY
• SAVE! SAVE! SAVE!
• AND THEN SAVE AGAIN
• DO NOT PLAGIARIZE MY WORK
• SUCCESS IN THIS CLASS IS LIKE BAKING A CAKE IF
  YOU FOLLOW THE RECIPE, IT WILL COME OUT OK!

8
Supplies

• Need the right ingredients
• Disks bring one to class (name)
• Notebook to keep your homework in
• Backup! Backup! And Backup again!

9
Syllabus

• One test is dropped
• Participation and attendance are critical.
• Help is available in the Academic Success Center.
  Use it!
• LETS LOOK AT THE ASSIGNMENTS SHEET

10
Homework Manager Again Just to Repeat!

• By 9 AM
• NOTE the assignment may say due by 10am (but
  that is Eastern Time)
• You may want to print your assignments for back
  up.
• Some items collected see syllabus

11
Learn the Lingo

• Chapter 1 2 are primarily terminology
• We will have fun in this class
• You do not need to memorize anything

12
The role of Managers

• DECISION MAKING
• PLANNING
• DIRECTING OPERATIONS
• CONTROLLING
• ALL WITHIN A
• PRINCIPAL AGENT MODEL

13
Managerial Accounting

• Enhances Decision Making
• Guides Strategy and Development
• Evaluates existing Strategies
• Focuses efforts related to
• improving organizational performance
• evaluating the contributions of organizational
  units members

14
Cost Object

• The thing we want to know the cost of.
• Can be a product LIKE CHOCOLATE, a service, a
  department, even this class.

15
Cost object can be many things

• Could be this course - this session
• Could be this course - Managerial Accounting
• Could be the accounting classes in general
• Could be the business school as a whole

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You must know what the cost object is!!!!

• Changing the cost object changes the nature of
  the cost analysis!

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Nature of Cost

• Fixed Cost
• Variable Cost
• Direct Cost
• Indirect Cost/COMMON COSTS
• NON-VALUE ADDED COSTS
• Controllable cost
• Uncontrollable Cost

18
Manufacturing Cost Classifications

• Direct Materials
• Direct Labor
• Manufacturing Overhead
• indirect materials
• indirect labor
• other manufacturing cost

19
Economic Characteristics of Cost

• Opportunity cost
• sunk cost
• incremental cost
• average cost
• marginal cost

20

• Video
• This company makes a mazak
• Use a lot of terms
• WIP
• CAD
• AGV
• Count the Direct Labor Folks
• Speak with a British Accent

21
Thought for the Day

• There is no comparison between that which is lost
  by not trying, and that which is lost by not
  succeeding.
• Sir Francis Bacon