Making Decisions: Understanding Relevant Costs in Management Accounting

Making Decisions: Understanding Relevant Costs in Management Accounting
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Slide 1: Tekstslide

In deze les zitten 26 slides, met interactieve quizzen en tekstslides.

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Making Decisions: Understanding Relevant Costs in Management Accounting

Slide 1 - Tekstslide

Deze slide heeft geen instructies

Learning Objective
At the end of the lesson, you will be able to understand and identify relevant costs in management accounting and apply them in decision-making processes.

Slide 2 - Tekstslide

Introduce the learning objective to the students and explain what they will be able to achieve by the end of the lesson.
What do you already know about relevant costs in management accounting?

Slide 3 - Woordweb

Deze slide heeft geen instructies

Slide 1: Introduction
Overview of management accounting and its role in decision-making.

Slide 4 - Tekstslide

Provide a brief introduction to management accounting and its significance in making informed decisions.
Slide 2: What are Relevant Costs?
Definition and explanation of relevant costs in management accounting.

Slide 5 - Tekstslide

Define relevant costs and explain their importance in decision-making. Provide examples to enhance understanding.
Slide 3: Types of Relevant Costs
Identify and discuss various types of relevant costs such as differential costs, opportunity costs, and sunk costs.

Slide 6 - Tekstslide

Explain the different types of relevant costs and their characteristics. Encourage class discussion to reinforce understanding.
Slide 4: Differential Costs
Explanation of differential costs and their role in decision-making.

Slide 7 - Tekstslide

Focus on understanding how differential costs differ between alternative options and how they impact decision-making.
Slide 5: Opportunity Costs
Definition and examples of opportunity costs in management accounting.

Slide 8 - Tekstslide

Help students grasp the concept of opportunity costs and how they represent the value of the foregone alternative when making a decision.
Slide 6: Sunk Costs
Define sunk costs and discuss their relevance in decision-making.

Slide 9 - Tekstslide

Explain the concept of sunk costs and emphasize their irrelevance in decision-making as they cannot be changed.
Slide 7: Identifying Relevant Costs
Guidelines for identifying relevant costs in decision-making scenarios.

Slide 10 - Tekstslide

Provide practical guidelines to help students identify relevant costs in real-life decision-making situations.
Slide 8: Example 1: Make or Buy Decision
Apply relevant cost analysis to a 'make or buy' decision scenario.

Slide 11 - Tekstslide

Present a practical example of a 'make or buy' decision and guide students through the process of identifying and analyzing relevant costs.
Slide 9: Example 2: Product Line Decision
Illustrate the role of relevant costs in a product line decision.

Slide 12 - Tekstslide

Use a product line decision example to demonstrate how understanding relevant costs can aid in determining the profitability of different product lines.
Slide 10: Relevant Costs vs. Irrelevant Costs
Differentiate between relevant costs and irrelevant costs.

Slide 13 - Tekstslide

Highlight the key differences between relevant costs and irrelevant costs to avoid confusion in decision-making processes.
Slide 11: The Time Factor
Discuss the importance of considering the time factor when analyzing relevant costs.

Slide 14 - Tekstslide

Emphasize the significance of considering the time value of money and how it affects relevant cost analysis.
Slide 12: Relevant Costs in Pricing Decisions
Explain how relevant costs impact pricing decisions.

Slide 15 - Tekstslide

Explore how understanding relevant costs helps in setting appropriate prices to maximize profitability.
Slide 13: Relevant Costs in Special Order Decisions
Discuss the role of relevant costs in evaluating special order decisions.

Slide 16 - Tekstslide

Explain how relevant costs assist in determining the profitability of accepting or rejecting special order requests.
Slide 14: Relevant Costs in Capital Budgeting
Illustrate how relevant costs influence capital budgeting decisions.

Slide 17 - Tekstslide

Showcase the importance of relevant costs in assessing the financial viability of long-term investment projects.
Slide 15: Limitations of Relevant Cost Analysis
Highlight the limitations and challenges of using relevant cost analysis.

Slide 18 - Tekstslide

Discuss potential limitations and pitfalls of relying solely on relevant cost analysis and encourage critical thinking.
Slide 16: Case Study 1: Relevant Costs in Decision-Making
Present a case study involving multiple relevant costs to solve a complex decision-making problem.

Slide 19 - Tekstslide

Engage students in a case study that requires them to identify and analyze relevant costs to make an informed decision.
Slide 17: Case Study 2: Applying Relevant Costs in Pricing
Provide a case study where relevant costs play a crucial role in determining optimal pricing strategies.

Slide 20 - Tekstslide

Challenge students to apply their understanding of relevant costs in a pricing case study to maximize profitability.
Slide 18: Review of Key Concepts
Summarize the key concepts and principles covered in the lesson.

Slide 21 - Tekstslide

Recap the main points covered in the lesson to reinforce understanding and prepare for assessment.
Slide 19: Assessment
Test students' knowledge and understanding of relevant costs through a short assessment.

Slide 22 - Tekstslide

Evaluate students' comprehension of the topic through a quiz or problem-solving exercise.
Slide 20: Conclusion
Wrap up the lesson by emphasizing the importance of understanding relevant costs in management accounting.

Slide 23 - Tekstslide

Summarize the key takeaways from the lesson and highlight the relevance of relevant cost analysis in making informed decisions.
Write down 3 things you learned in this lesson.

Slide 24 - Open vraag

Have students enter three things they learned in this lesson. With this they can indicate their own learning efficiency of this lesson.
Write down 2 things you want to know more about.

Slide 25 - Open vraag

Here, students enter two things they would like to know more about. This not only increases involvement, but also gives them more ownership.
Ask 1 question about something you haven't quite understood yet.

Slide 26 - Open vraag

The students indicate here (in question form) with which part of the material they still have difficulty. For the teacher, this not only provides insight into the extent to which the students understand/master the material, but also a good starting point for the next lesson.