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| | | | | Managerial Accounting , 2002 Edition
Belverd E. Needles, Jr., DePaul University
Marian Powers, Northwestern University
Susan Crosson, Santa Fe Community College
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| | Learning Objectives
Chapter 5: Activity-Based Systems: Activity-Based Management and Just-in-Time
- Explain the role of activity-based systems in the management cycle.
- Define activity-based management (ABM) and discuss its relationship with the supply network and the value chain.
- Distinguish between value-adding and nonvalue-adding activities, and describe process value analysis.
- Define activity-based costing, and explain how a cost hierarchy and a bill of activities are used.
- Define the just-in-time (JIT) operating philosophy and identify the elements of a JIT operating environment.
- Identify the changes in product costing that result when a firm adopts a JIT operating environment.
- Define and apply backflush costing, and compare the cost flows in traditional and backflush costing.
- Compare ABM and JIT as activity-based systems.
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