Management Accounting,9780324206760

Management Accounting

by
Edition: 3rd
ISBN13: 9780324206760
ISBN10: 0324206763
Format: Hardcover
Pub. Date: 2004-02-11
Publisher(s): Cengage Learning
List Price: $276.95

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Summary

Accounting is about decision making using financial information. The text focuses on developing the learner's ability to critically analyze accounting information and make informed business decisions. The learners are exposed to a lot of real-world examples where they can see the effect that accounting information has on the decisions made by real companies. Also chapters are split into basic and expanded material so that the professor can easily cover the basics of a topic or, if he or she prefers, delve deeper into a selected topic. Finally, analysis is incorporated throughout the text so that the learners can learn to use accounting information as they learn how that information is prepared.

Table of Contents

Part 1 Foundations
1(196)
Introduction to Management Accounting
2(40)
Management Accounting and Financial Accounting
4(3)
Example of a Management Accounting Technique: Return on Investment (ROI)
5(1)
Management Accounting and Financial Accounting
6(1)
The Management Process and Management Accounting Terminology
7(3)
Planning
7(2)
Controlling
9(1)
Evaluating
9(1)
Introduction to Cost-Volume-Profit Analysis
10(2)
Product and Period Costs
12(5)
Types of Product Costs
13(2)
Computing the Cost of Manufactured Products: How Low Can You Go?
15(2)
Segment Analysis
17(4)
Direct and Indirect Costs
17(1)
Differential Costs and Sunk Costs
18(1)
Out-of-Pocket Costs and Opportunity Costs
19(1)
Segment Analysis at DuPont
19(2)
Expanding Management Accounting: Cost, Quality, and Time
21(2)
The Role of Ethics in Management Accounting
23(2)
In Conclusion---The Management Process
25(1)
End-of-Chapter Materials
25(17)
Competency Enhancement Opportunities
37(5)
Analyzing Cost-Volume-Profit Relationships
42(72)
Understanding Why C-V-P Analysis Is Important
44(1)
Basic Cost Behavior Patterns
45(7)
Measuring Level of Activity
46(1)
Variable Costs
46(3)
Fixed Costs
49(2)
Mixed Costs
51(1)
Analysis of Mixed Costs
52(5)
The Scattergraph, or Visual-Fit, Method
53(1)
The High-Low Method
54(2)
A Comparison of the Scattergraph and High-Low Methods
56(1)
Methods of C-V-P Analysis
57(11)
Contribution Margin
58(2)
The C-V-P Equation
60(4)
Measuring the Effect of Potential Changes in C-V-P Variables
64(4)
Using Graphs to ``See'' C-V-P Relationships
68(4)
The Profit Graph
68(1)
A Comparison of C-V-P Graphs with C-V-P Equations
69(3)
Limiting Assumptions of C-V-P Analysis
72(1)
Issues of Quality and Time
72(1)
expanded Material
Analysis of Mixed Costs---The Least Squares Method
73(3)
Sales Mix
76(2)
Cost Structure in Different Types of Organizations
78(3)
End-of-Chapter Materials
81(33)
Competency Enhancement Opportunities
109(5)
Product Cost Flows and Business Organizations
114(83)
Why Having Accurate Product Costs Is So Difficult, Yet Important
116(5)
Overhead: The Problem in Determining Accurate Product Costs
117(3)
New Methods of Cost Accumulation
120(1)
The Flow of Goods and Costs in a Manufacturing Firm
121(9)
The Product Costing System
123(7)
Accounting for Overhead
130(4)
Estimated Manufacturing Overhead
130(1)
Actual Manufacturing Overhead
131(1)
Applied Manufacturing Overhead
131(1)
Disposition of Over- and Underapplied Manufacturing Overhead
132(2)
The Cost of Goods Manufactured Schedule
134(2)
The Flow of Goods and Costs in a Merchandising Firm
136(5)
The Distribution Channel
136(2)
Inventory Flow in the Distribution Channel
138(2)
Product Cost Accumulation in Merchandising Organizations
140(1)
The Flow of Services and Costs in Service Companies
141(6)
Comparing Service and Manufacturing Business Activities
142(2)
Product Cost Accumulation in Service Organizations
144(3)
The Effect of E-Business
147(2)
Expanded Material
The Process Costing System
149(7)
Steps in Process Costing
150(6)
End-of-Chapter Materials
156(41)
Competency Enhancement Opportunities
190(7)
Part 2 Planning
197(130)
Capital Investment Decisions
198(56)
Conceptual Basis of Capital Budgeting
200(4)
Importance of Capital Investment Decisions in Planning
200(1)
Uses of Capital Budgeting: Screening and Ranking
201(1)
The Time Value of Money
201(1)
Discounting Cash Flows
202(2)
Nondiscounted Capital Budgeting Techniques
204(3)
Payback Method
205(1)
Unadjusted Rate of Return Method
206(1)
Discounted Capital Budgeting Techniques
207(7)
Selecting a Discount Rate
207(1)
Net Present Value Method
208(2)
Internal Rate of Return Method
210(4)
Comparative Example of Capital Budgeting Techniques
214(1)
Qualitative Factors in Strategic and Capital Investment Decisions
215(2)
expanded Material
Dealing with Uncertainty in Strategic and Capital Investment Decisions
217(2)
If Expected Cash Flows Are Uncertain
218(1)
If Useful Life Is Uncertain
218(1)
If Disposal Value Is Uncertain
218(1)
Capital Rationing
219(2)
Ranking by the Internal Rate of Return Method
219(1)
Ranking by the Net Present Value Method
220(1)
Income Tax Considerations in Capital Budgeting Decisions
221(3)
Appendix: The Time Value of Money
224(11)
Present Value and Future Value Concepts
224(3)
The Present Value of an Annuity
227(1)
Using Excel Spreadsheets for Time Value of Money Calculations
228(1)
PV Excel Function
228(1)
NPV Excel Function
229(1)
IRR Excel Function
230(5)
End-of-Chapter Materials
235(18)
Competency Enhancement Opportunities
250(3)
Comprehensive Problem 1--4
253(1)
Operational Budgeting
254(73)
Purposes of Budgeting
256(2)
Types and Purposes of Budgeting
258(2)
The Budgeting Process
260(2)
Behavioral Considerations
261(1)
Involvement in Preparing the Budget: Top-Down versus Bottom-Up
261(1)
The Master Budget
262(10)
Budgeting for Operations in a Manufacturing Firm
262(10)
Budgeting in Merchandising and Service Firms
272(9)
Budgeting for Operations in a Merchandising Firm
272(3)
Budgeting for Operations in a Service Firm
275(6)
expanded Material
Cash Budget
281(3)
Pro-Forma Financial Statements
284(3)
Static Versus Flexible Budgeting
287(4)
Weakness in Static Budgeting
288(1)
Using the Flexible Budget
289(2)
End-of-Chapter Materials
291(36)
Competency Enhancement Opportunities
320(7)
Part 3 Control
327(186)
Monitoring Performance in Cost, Profit, and Investment Centers
328(70)
Management Control of Personnel and Divisions
330(1)
Control of Divisions and Personnel in Different Types of Operating Units
331(6)
Benefits and Problems of Decentralization
334(1)
Responsibility Accounting
334(3)
Standard Cost Systems
337(3)
Determining Standard Costs and Identifying Variances
337(2)
Evaluation of Standard Costing
339(1)
Controlling Performance in Cost Centers
340(8)
Direct Materials Variances
341(4)
Direct Labor Variances
345(3)
Controlling Performance in Profit Centers
348(7)
The Segment-Margin Income Statement
348(1)
Interpreting Profit Center Performance Results
349(1)
Managing Revenues in Profit Centers
349(6)
Evaluating Performance in Investment Centers
355(3)
Return on Investment (ROI)
355(2)
Residual Income
357(1)
expanded Material
Variable Manufacturing Overhead Variances in Cost Centers
358(3)
Measuring and Controlling Variable Manufacturing Overhead Costs
358(3)
Fixed Manufacturing Overhead Variances in Cost Centers
361(4)
Measuring and Controlling Fixed Manufacturing Overhead Costs
362(3)
End-of-Chapter Materials
365(32)
Competency Enhancement Opportunities
393(4)
Comprehensive Problem 5--6
397(1)
Managing Inventory and Service Costs
398(52)
Inventory in Organizations
400(3)
Analyzing Inventory Levels
403(4)
Managing Cost Information
407(8)
Carrying Too Much Inventory
407(1)
Carrying Too Little Inventory
408(1)
Example of Inventory Management Costs
409(6)
Managing Service Organizations
415(5)
Characteristics of a Service Organization
415(1)
Cost Management in a Service Organization
416(1)
Illustration: Cost Management in an Audit Firm
417(3)
Just-In-Time
420(3)
JIT Inventory Systems
420(1)
JIT and Value-Added Activities
421(1)
JIT and Time
422(1)
expanded Material
Opportunity Costs in Managing Inventory and Work-In-Process Services
423(4)
Holding Costs and Economic Profit in Merchandising Organizations
424(2)
Service Organizations and Holding Costs
426(1)
Quantitative Inventory Management Methods
427(4)
Economic Order Quantity
427(1)
Recorder Point and Safety Stock
428(3)
End-of-Chapter Materials
431(19)
Competency Enhancement Opportunities
447(3)
Activity-Based Costing and Quality Management
450(63)
Activity-Based Costing
453(20)
Product Costing Review
453(1)
Seatjoy, Inc., Is in Trouble!
454(3)
The ABC Hierarchical Product Cost Model
457(7)
Resolving Cost Distortions
464(5)
Activity-Based Management (ABM)
469(4)
Total Quality Management
473(8)
TQM Comes to the United States
474(1)
TQM and Management Accounting
474(1)
Costs of Quality (COQ)
475(3)
COQ Example
478(1)
Locating COQ in the Accounting Records
479(2)
expanded Material
Measuring Costs of Lost Sales
481(3)
Robust Quality
481(1)
Taguchi's Quality Loss Function
482(1)
Is Quality Free?
483(1)
End-of-Chapter Materials
484(29)
Competency Enhancement Opportunities
509(4)
Part 4 Evaluation
513
Making Decisions Using Relevant Information
514(57)
Evaluating Products and Processes
515(4)
Why Evaluation Is So Important
516(1)
Quality and Time Standards
517(2)
Benchmarking
519(2)
Internal versus External Comparisons
520(1)
Differential Costs, Sunk Costs, and Decision Making
521(6)
Total Costs versus Differential Costs
524(2)
Qualitative Considerations
526(1)
Examples of Product and Process Evaluation Decisions
527(17)
Accepting or Rejecting Special Orders
527(3)
Making or Buying Products
530(5)
Exiting or Entering a Market
535(4)
Determining at What Stage of Production to Sell Products
539(2)
Selecting the Best Use of a Scarce Resource
541(1)
Setting Selling Prices
542(2)
expanded Material
Theory of Constraints
544(2)
End-of-Chapter Materials
546(25)
Competency Enhancement Opportunities
566(5)
Continuous Improvement in Management Accounting
571
The Value of Intangible Assets
573(1)
Let's Take a Flight!
574(1)
The Balanced Scorecard
574(18)
Adding Value with Performance Measures
576(1)
Customers
577(3)
Internal Processes
580(4)
Learning and Growth
584(2)
Linking It All Together
586(2)
An Example Scorecard
588(1)
There Is No ``Quick Approach''
589(3)
Accounting for Tomorrow
592(2)
End of Chapter Materials
594
Competency Enhancement Opportunities
604
Appendices
A Microsoft's 2002 Form 10-K
1(1)
B Glossary
1(1)
C Check Figures
1(1)
Indexes
Subject
1(1)
Real World Company
1

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