8-1

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The Statement of
Cash Flows
THE STATEMENT OF CASH
FLOWS


Provides information about an entitys
cash receipts and cash payments during a
period.
1) Where did the cash come from during
the period?
2) What was the cash used for during the
period?
3) What was the change in the cash
balance during the period?
8-2
MEANING OF
CASH FLOWS

Prepared using cash and cash equivalents as
its basis.
Cash equivalents - short-term, highly liquid
investments that are both:
1)readily convertible to known amounts of
cash
2)so near to their maturity that their
market value is relatively insensitive to
changes in interest rates.
Types of Cash Flows -
Operating Activities
Cash inflows:
From sale of goods or services
From return on loans (interest received) and on
equity securities (dividends received)
Cash outflows:
To suppliers for inventory
To employees for services
To government for taxes
To lenders for interest
To others for expenses
8-3
Types of Cash Flows -
Investing Activities
Cash inflows:
From sale of property, plant, and equipment
From sale of debt or equity securities of other entities
From collection of principal on loans to other entities
Cash outflows:
To purchase property, plant, and equipment
To purchase debt or equity securities of other entities
To make loans to other entities
Types of Cash Flows -
Financing Activities
Cash inflows:
From sale of equity securities (company's own
stock)
From issuance of debt (bonds and notes)
Cash outflows:
To stockholders as dividends
To redeem long-term debt or reacquire capital
stock
8-4
Significant
Noncash Activities...
That do NOT affect cash are NOT reported
in the body of the statement of cash flows.
Are reported:
In a separate schedule at the bottom
of the statement of cash flows or
In a separate note or supplementary
schedule to the financial statements.
8-5
Significant
Noncash Activities...

1. Issuance of common stock to
purchase assets.
2. Conversion of bonds into common
stock.
3. Issuance of debt to purchase assets.
4. Exchanges of plant assets.
COMPANY NAME
Statement of Cash Flows
Period Covered




Cash flows from operating activities
(List of individual items) XX
Net cash provided (used) by operating activities XXX
Cash flows from investing activities
(List of individual inflows and outflows) XX
Net cash provided (used) by investing activities XXX
Cash flows from financing activities
(List of individual inflows and outflows) XX
Net cash provided (used) by financing activities XXX
Net increase (decrease) in cash XXX
Cash at beginning of period XXX
Cash at end of period XXX

Noncash investing and financing activities
(List of individual noncash transactions) XXX


The general
format of the
SCF:
Is the 3 activities
previously
discussed
operating,
investing, and
financing plus
the significant
noncash investing
and financing
activities.
FORMAT OF STATEMENT OF
CASH FLOWS
Square Textiles Example
8-6
USEFULNESS OF
THE STATEMENT OF CASH
FLOWS
1) Ability to generate future cash flows.
2) Ability to pay dividends and meet obligations.
3) Reasons for the difference between net income
and net cash provided (used) by operating
activities.
4) Cash invested and financing transactions
during the period.
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Chapter 8
Activity-Based Costing: A
Tool to Aid Decision Making
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How Costs are Treated Under
ActivityBased Costing
ABC differs from traditional cost accounting in three ways.
Manufacturing
costs
Nonmanufacturing
costs
ABC assigns both types of costs to products.
Traditional
product costing
ABC
product costing
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How Costs are Treated Under
ActivityBased Costing
ABC does not assign all manufacturing costs to products.
Manufacturing
costs
Nonmanufacturing
costs
Traditional
product costing
ABC
product costing
A
l
l

S
o
m
e

ABC differs from traditional cost accounting in three ways.
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8-15
Simple count
of the number of
times an activity
occurs.
Transaction
driver
A measure
of the amount
of time needed
for an activity.
Duration
driver
Two common types of activity measures:
How Costs are Treated Under
ActivityBased Costing
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Chapter 10
Standard Costs and
Balanced Scorecard
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Standard Costs
Standards are benchmarks or norms
for measuring performance. Two types
of standards are commonly used.
Quantity standards
specify how much of an
input should be used to
make a product or
provide a service.
Cost (price)
standards specify
how much should be
paid for each unit
of the input.
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Standard Costs
Direct
Material
Deviations from standards deemed significant
are brought to the attention of management, a
practice known as management by exception.
Type of Product Cost
A
m
o
u
n
t

Direct
Labor
Manufacturing
Overhead
Standard
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Variance Analysis Cycle
Prepare standard
cost performance
report



Analyze
variances
Begin



Identify
questions



Receive
explanations
Take
corrective
actions
Conduct next
periods
operations
Exhibit
10-1
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Learning Objective 6
Compute delivery cycle
time, throughput time,
and manufacturing
cycle efficiency (MCE).
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Process time is the only value-added time.
Delivery Performance Measures
Wait Time
Process Time + Inspection Time
+ Move Time + Queue Time
Delivery Cycle Time
Order
Received
Production
Started
Goods
Shipped
Throughput Time
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Delivery Performance Measures
Manufacturing
Cycle
Efficiency
Value-added time
Manufacturing cycle time
=
Wait Time
Process Time + Inspection Time
+ Move Time + Queue Time
Delivery Cycle Time
Order
Received
Production
Started
Goods
Shipped
Throughput Time
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Quick Check
A TQM team at Narton Corp has recorded the
following average times for production:
Wait 3.0 days Move 0.5 days
Inspection 0.4 days Queue 9.3 days
Process 0.2 days
What is the throughput time(Manufacturing cycle time)?
a. 10.4 days
b. 0.2 days
c. 4.1 days
d. 13.4 days
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A TQM team at Narton Corp has recorded the
following average times for production:
Wait 3.0 days Move 0.5 days
Inspection 0.4 days Queue 9.3 days
Process 0.2 days
What is the throughput time?
a. 10.4 days
b. 0.2 days
c. 4.1 days
d. 13.4 days
Quick Check
Throughput time = Process + Inspection + Move + Queue
= 0.2 days + 0.4 days + 0.5 days + 9.3 days
= 10.4 days
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Quick Check
A TQM team at Narton Corp has recorded the
following average times for production:
Wait 3.0 days Move 0.5 days
Inspection 0.4 days Queue 9.3 days
Process 0.2 days
What is the Manufacturing Cycle Efficiency?
a. 50.0%
b. 1.9%
c. 52.0%
d. 5.1%
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A TQM team at Narton Corp has recorded the
following average times for production:
Wait 3.0 days Move 0.5 days
Inspection 0.4 days Queue 9.3 days
Process 0.2 days
What is the Manufacturing Cycle Efficiency?
a. 50.0%
b. 1.9%
c. 52.0%
d. 5.1%
Quick Check
MCE = Value-added time Throughput time
= Process time Throughput time
= 0.2 days 10.4 days
= 1.9%
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Quick Check
A TQM team at Narton Corp has recorded the
following average times for production:
Wait 3.0 days Move 0.5 days
Inspection 0.4 days Queue 9.3 days
Process 0.2 days
What is the delivery cycle time?
a. 0.5 days
b. 0.7 days
c. 13.4 days
d. 10.4 days
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10-28
A TQM team at Narton Corp has recorded the
following average times for production:
Wait 3.0 days Move 0.5 days
Inspection 0.4 days Queue 9.3 days
Process 0.2 days
What is the delivery cycle time?
a. 0.5 days
b. 0.7 days
c. 13.4 days
d. 10.4 days
Quick Check Delivery cycle time = Wait time + Throughput time
= 3.0 days + 10.4 days
= 13.4 days
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End of Chapter 10
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Segment Reporting and
Decentralization
Chapter Twelve
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Cost, Profit, and Investments Centers
Responsibility
Center
Cost
Center
Profit
Center
Investment
Center
Cost, profit,
and investment
centers are all
known as
responsibility
centers.
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Cost Center
A segment whose
manager has control
over costs,
but not over revenues
or investment funds.
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Profit Center
A segment whose
manager has control
over both costs and
revenues,
but no control over
investment funds.
Revenues
Sales
Interest
Other
Costs
Mfg. costs
Commissions
Salaries
Other
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Investment Center
A segment whose
manager has control
over costs, revenues,
and investments in
operating assets.
Corporate Headquarters
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Responsibility Centers
Salty Snacks
Product Manger
Bottling Plant
Manager
Warehouse
Manager
Distribution
Manager
Beverages
Product Manager
Confections
Product Manager
Operations
Vice President
Finance
Chief FInancial Officer
Legal
General Counsel
Personnel
Vice President
Superior Foods Corporation
Corporate Headquarters
President and CEO
Cost
Centers
Investment
Centers
Superior Foods Corporation provides an example of the
various kinds of responsibility centers that exist in an
organization.
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Responsibility Centers
Salty Snacks
Product Manger
Bottling Plant
Manager
Warehouse
Manager
Distribution
Manager
Beverages
Product Manager
Confections
Product Manager
Operations
Vice President
Finance
Chief FInancial Officer
Legal
General Counsel
Personnel
Vice President
Superior Foods Corporation
Corporate Headquarters
President and CEO
Superior Foods Corporation provides an example of the
various kinds of responsibility centers that exist in an
organization.
Profit
Centers
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Responsibility Centers
Salty Snacks
Product Manger
Bottling Plant
Manager
Warehouse
Manager
Distribution
Manager
Beverages
Product Manager
Confections
Product Manager
Operations
Vice President
Finance
Chief FInancial Officer
Legal
General Counsel
Personnel
Vice President
Superior Foods Corporation
Corporate Headquarters
President and CEO
Cost
Centers
Superior Foods Corporation provides an example of the
various kinds of responsibility centers that exist in an
organization.
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Learning Objective 1
Prepare a segmented
income statement using
the contribution margin
format, and explain the
difference between
traceable fixed costs and
common fixed costs.
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Decentralization and
Segment Reporting
A segment is any part
or activity of an
organization about
which a manager
seeks cost, revenue,
or profit data. A
segment can be . . .
Quick Mart
An Individual Store
A Sales Territory
A Service Center
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Keys to Segmented Income Statements
There are two keys to building
segmented income statements:
A contribution format should be used
because it separates fixed from variable
costs and it enables the calculation of a
contribution margin.
Traceable fixed costs should be separated
from common fixed costs to enable the
calculation of a segment margin.
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Identifying Traceable Fixed Costs
Traceable costs arise because of the existence
of a particular segment and would disappear
over time if the segment itself disappeared.
No computer
division means . . .
No computer
division manager.
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Identifying Common Fixed Costs
Common costs arise because of the overall
operation of the company and would not
disappear if any particular segment were
eliminated.
No computer
division but . . .
We still have a
company president.
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Segment Margin
The segment margin, which is computed by
subtracting the traceable fixed costs of a segment
from its contribution margin, is the best gauge of
the long-run profitability of a segment.
Time
P
r
o
f
i
t
s

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Traceable and Common Costs
Fixed
Costs
Traceable Common
Dont allocate
common costs to
segments.
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Levels of Segmented Statements
Lets look more closely at the Television
Divisions income statement.
Webber, Inc. has two divisions.
Computer Division Television Division
Webber, Inc.
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Levels of Segmented Statements
Our approach to segment reporting uses the
contribution format.
Income Statement
Contribution Margin Format
Television Division
Sales 300,000 $
Variable COGS 120,000
Other variable costs 30,000
Total variable costs 150,000
Contribution margin 150,000
Traceable fixed costs 90,000
Division margin 60,000 $
Cost of goods
sold consists of
variable
manufacturing
costs.
Fixed and
variable costs
are listed in
separate
sections.
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Levels of Segmented Statements
Segment margin
is Televisions
contribution
to profits.
Our approach to segment reporting uses the
contribution format.
Income Statement
Contribution Margin Format
Television Division
Sales 300,000 $
Variable COGS 120,000
Other variable costs 30,000
Total variable costs 150,000
Contribution margin 150,000
Traceable fixed costs 90,000
Division margin 60,000 $
Contribution margin
is computed by
taking sales minus
variable costs.
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Levels of Segmented Statements
Income Statement
Company Television Computer
Sales 500,000 $ 300,000 $ 200,000 $
Variable costs 230,000 150,000 80,000
CM 270,000 150,000 120,000
Traceable FC 170,000 90,000 80,000
Division margin 100,000 60,000 $ 40,000 $
Common costs
Net operating
income
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Levels of Segmented Statements
Income Statement
Company Television Computer
Sales 500,000 $ 300,000 $ 200,000 $
Variable costs 230,000 150,000 80,000
CM 270,000 150,000 120,000
Traceable FC 170,000 90,000 80,000
Division margin 100,000 60,000 $ 40,000 $
Common costs 25,000
Net operating
income 75,000 $
Common costs should not
be allocated to the
divisions. These costs
would remain even if one
of the divisions were
eliminated.
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Transfer Pricing
Appendix 12A
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Key Concepts/Definitions
A transfer price is the price
charged when one segment of
a company provides goods or
services to another segment of
the company.
The fundamental objective in
setting transfer prices is to
motivate managers to act in the
best interests of the overall
company.
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Three Primary Approaches
There are three primary
approaches to setting
transfer prices:
1. Negotiated transfer prices;
2. Transfers at the cost to the
selling division; and
3. Transfers at market price.
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Negotiated Transfer Prices
A negotiated transfer price results from discussions
between the selling and buying divisions.
Advantages of negotiated transfer prices:
1. They preserve the autonomy of the
divisions, which is consistent with
the spirit of decentralization.
2. The managers negotiating the
transfer price are likely to have much
better information about the potential
costs and benefits of the transfer
than others in the company.
Upper limit is
determined by the
buying division.
Lower limit is
determined by the
selling division.
Range of Acceptable
Transfer Prices
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Harris and Louder An Example
Imperial Beverages:
Ginger beer production capactiy per month 10,000 barrels
Variable cost per barrel of ginger beer 8 per barrel
Fixed costs per month 70,000
Selling price of Imperial Beverages ginger beer
on the outside market 20 per barrel
Pizza Maven:
Purchase price of regular brand of ginger beer 18 per barrel
Monthly comsumption of ginger beer 2,000 barrels
Assume the information as shown with
respect to Imperial Beverages and Pizza
Maven (both companies are owned by Harris
and Louder).
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Harris and Louder An Example
The selling divisions (Imperial Beverages) lowest acceptable transfer
price is calculated as:
Variable cost Total contribution margin on lost sales
per unit Number of units transferred
Transfer Price +
Transfer Price Cost of buying from outside supplier
The buying divisions (Pizza Maven) highest acceptable transfer price is
calculated as:
Lets calculate the lowest and highest acceptable
transfer prices under three scenarios.
Transfer Price Profit to be earned per unit sold (not including the transfer price)
If an outside supplier does not exist, the highest acceptable transfer price
is calculated as:
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Harris and Louder An Example
If Imperial Beverages has sufficient idle capacity (3,000 barrels) to satisfy
Pizza Mavens demands (2,000 barrels), without sacrificing sales to other
customers, then the lowest and highest possible transfer prices are
computed as follows:
0
2,000
= 8 Transfer Price + 8
Selling divisions lowest possible transfer price:
Transfer Price Cost of buying from outside supplier = 18
Buying divisions highest possible transfer price:
Therefore, the range of acceptable
transfer price is 8 18.
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Harris and Louder An Example
If Imperial Beverages has no idle capacity (0 barrels) and must sacrifice other
customer orders (2,000 barrels) to meet Pizza Mavens demands (2,000
barrels), then the lowest and highest possible transfer prices are computed
as follows:
( 20 - 8) 2,000
2,000
= 20 Transfer Price + 8
Selling divisions lowest possible transfer price:
Transfer Price Cost of buying from outside supplier = 18
Buying divisions highest possible transfer price:
Therefore, there is no range of
acceptable transfer prices.
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Harris and Louder An Example
If Imperial Beverages has some idle capacity (1,000 barrels) and must
sacrifice other customer orders (1,000 barrels) to meet Pizza Mavens
demands (2,000 barrels), then the lowest and highest possible transfer prices
are computed as follows:
Transfer Price Cost of buying from outside supplier = 18
Buying divisions highest possible transfer price:
Therefore, the range of acceptable
transfer price is 14 18.
Selling divisions lowest possible transfer price:
( 20 - 8) 1,000
2,000
= 14 Transfer Price + 8
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Transfers at the Cost to the Selling Division
Many companies set transfer prices at either
the variable cost or full (absorption) cost
incurred by the selling division.
Drawbacks of this approach include:
1. Using full cost as a transfer price
and can lead to suboptimization.
2. The selling division will never
show a profit on any internal
transfer.
3. Cost-based transfer prices do not
provide incentives to control
costs.
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Transfers at Market Price
A market price (i.e., the price charged for an
item on the open market) is often regarded as
the best approach to the transfer pricing
problem.
1. A market price approach works
best when the product or service
is sold in its present form to
outside customers and the
selling division has no idle
capacity.
2. A market price approach does
not work well when the selling
division has idle capacity.
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Divisional Autonomy and Sub optimization
The principles of
decentralization suggest
that companies should
grant managers autonomy
to set transfer prices and
to decide whether to sell
internally or externally,
even if this may
occasionally result in
suboptimal decisions.
This way top management
allows subordinates to
control their own destiny.
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International Aspects of Transfer Pricing
Transfer Pricing
Objectives
Domestic
Greater divisional autonomy
Greater motivation for managers
Better performance evaluation
Better goal congruence
International
Less taxes, duties, and tariffs
Less foreign exchange risks
Better competitive position
Better governmental relations
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End of Chapter 12
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