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Cost accounting : a managerial emphasis
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- Summary
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Chapter 1. The Accountant's Role in the Organization Chapter 2. An Introduction to Cost Terms and Purposes Chapter 3. Cost-Volume-Profit Analysis Chapter 4. Job Costing Chapter 5. Activity-Based Co...
Chapter 1. The Accountant's Role in the Organization Chapter 2. An Introduction to Cost Terms and Purposes Chapter 3. Cost-Volume-Profit Analysis Chapter 4. Job Costing Chapter 5. Activity-Based Costing and Activity-Based Management Chapter 6. Master Budget and Responsibility Accounting Chapter 7. Flexible Budgets, Direct-Cost Variances, and Management Control Chapter 8. Flexible Budgets, Overhead Cost Variances, and Management Control Chapter 9. Inventory Costing and Capacity Analysis Chapter 10. Determining How Costs Behave Chapter 11. Decision Making and Relevant Information Chapter 12. Pricing Decisions and Cost Management Chapter 13. Strategy, Balanced Scorecard, and Strategic Profitability Analysis Chapter 14. Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis Chapter 15. Allocation of Support-Department Costs, Common, Costs, and Revenues Chapter 16. Cost Allocation: Join Products and Byproducts Chapter 17. Process Costing Chapter 18. Spoilage, Rework, and Scrap Chapter 19. Balanced Scorecard: Quality, Time, and the Theory of Constraints Chapter 20. Inventory Management, Just-in-Time, and Simplified Costing Methods Chapter 21. Capital Budgeting and Cost Analysis Chapter 22. Management Control Systems, Transfer Pricing, and Multinational Considerations Chapter 23. Performance Measurement, Compensation, and Multinational Considerations.
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- Creator
- Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
- Included Title
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- Cost accounting
- Format
- Books
- Language
- English
- Contributors
- Publication
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- 14th ed
- Upper Saddle River, N.J. : Pearson/Prentice Hall, [2012]
- ©2012
- Physical Details
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- xxi, 869 pages : color illustrations ; 29 cm
- ISBNs
- 9780132109178, 0132109174
- OCLC
- ocn670211545
- Revised edition of: Cost accounting : a managerial emphasis / Charles T. Horngren [and others]. 13th ed.
- Includes bibliographical references and index.
- Note continued: 9. Inventory Costing and Capacity Analysis -- Lean Manufacturing Helps Companies Reduce Inventory and Survive the Recession -- Variable and Absorption Costing -- Variable Costing -- Absorption Costing -- Comparing Variable and Absoption Costing -- Variable vs. Absorption Costing: Operating Income and Income Statements -- Comparing Income Statements for One Year -- Comparing Income Statements for Three Years -- Variable Costing and the Effect of Sales and Production on Operating Income -- Absorption Costing and Performance Measurement -- Undesirable Buildup of Inventories -- Proposals for Revising Performance Evaluation -- Comparing Inventory Costing Methods -- Throughput Costing -- A Comparison of Alternative Inventory-Costing Methods -- Denominator-Level Capacity Concepts and Fixed-Cost Capacity Analysis -- Absorption Costing and Alternative Denominator-Level Capacity Concepts -- Effect on Budgeted Fixed Manufacturing Cost Rate -- Choosing a Capacity Level -- Product Costing and Capacity Management -- Pricing Decisions and the Downward Demand Spiral -- Performance Evaluation -- Concepts in Action: The "Death Spiral" and the End of Landline Telephone Service -- External Reporting -- Tax Requirements -- Planning and Control of Capacity Costs -- Difficulties in Forecasting Chosen Denominator-Level Concept -- Difficulties in Forecasting Fixed Manufacturing Costs -- Nonmanufacturing Costs -- Activity-Based Costing -- Problem for Self-Study -- Decision Points -- Appendix: Breakeven Points in Variable Costing and Absorption Costing -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 10. Determining How Costs Behave -- Management Accountants at Cisco Embrace Opportunities, Enhance Sustainability -- Basic Assumptions and Examples of Cost Functions -- Basic Assumptions -- Linear Cost Functions -- Review of Cost Classification -- Identifying Cost Drivers -- The Cause-and-Effect Criterion -- Cost Drivers and the Decision-Making Process -- Cost Estimation Methods -- Industrial Engineering Method -- Conference Method -- Account Analysis Method -- Quantitative Analysis Method -- Steps in Estimating a Cost Function Using Quantitative Analysis -- High-Low Method -- Regression Analysis Method -- Evaluating Cost Drivers of the Estimated Cost Function -- Choosing Among Cost Drivers -- Concepts in Action: Activity-Based Costing: Identifying Cost and Revenue Drivers -- Cost Drivers and Activity-Based Costing -- Nonlinear Cost Functions -- Learning Curves -- Cumulative Average-Time Learning Model -- Incremental Unit-Time Learning Model -- Incorporating Learning-Curve Effects into Prices and Standards -- Data Collection and Adjustment Issues -- Problem for Self-Study -- Decision Points -- Appendix: Regression Analysis -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 11. Decision Making and Relevant Information -- Relevant Costs, JetBlue, and Twitter -- Information and the Decision Process -- The Concept of Relevance -- Relevant Costs and Relevant Revenues -- Qualitative and Quantitative Relevant Information -- An Illustration of Relevance: Choosing Output Levels -- One-Time-Only Special Orders -- Potential Problems in Relevant-Cost Analysis -- Insourcing-versus-Outsourcing and Make-versus-Buy Decisions -- Outsourcing and Idle Facilities -- Strategic and Qualitative Factors -- Concepts in Action: Pringles Prints and the Offshoring of Innovation -- International Outsourcing -- Opportunity Costs and Outsourcing -- The Opportunity-Cost Approach -- Carrying Costs of Inventory -- Product-Mix Decisions with Capacity Constraints -- Customer Profitability, Activity-Based Costing, and Relevant Costs -- Relevant-Revenue and Relevant-Cost Analysis of Dropping a Customer -- Relevant-Revenue and Relevant-Cost Analysis of Adding a Customer -- Relevant-Revenue and Relevant-Cost Analysis of Closing or Adding Branch Offices or Segments -- Irrelevance of Past Costs and Equipment-Replacement Decisions -- Decisions and Performance Evaluation -- Problem for Self-Study -- Decision Points -- Appendix: Linear Programming -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 12. Pricing Decisions and Cost Management -- Target Pricing and Tata Motors' $2,500 Car -- Major Influences on Pricing Decisions -- Customers, Competitors, and Costs -- Costing and Pricing for the Short Run -- Relevant Costs for Short-Run Pricing Decisions -- Strategic and Other Factors in Short-Run Pricing -- Effect of Time Horizon on Short-Run Pricing Decisions -- Costing and Pricing for the Long Run -- Calculating Product Costs for Long-Run Pricing Decisions -- Alternative Long-Run Pricing Approaches -- Target Costing for Target Pricing -- Understanding Customers' Perceived Value -- Doing Competitor Analysis -- Implementing Target Pricing and Target Costing -- Concepts in Action: Extreme Target Pricing and Cost Management at IKEA -- Value Engineering, Cost Incurrence, and Locked-In Costs -- Value-Chain Analysis and Cross-Functional Teams -- Achieving the Target Cost per Unit for Provalue -- Cost-Pius Pricing -- Cost-Pius Target Rate of Return on Investment -- Alternative Cost-Pius Methods -- Cost-Pius Pricing and Target Pricing -- Life-Cycle Product Budgeting and Costing -- Life-Cycle Budgeting and Pricing Decisions -- Customer Life-Cycle Costing -- Additional Considerations for Pricing Decisions -- Price Discrimination -- Peak-Load Pricing -- International Considerations -- Antitrust Laws -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 13. Strategy, Balanced Scorecard, and Strategic Profitability Analysis -- Balanced Scorecard Helps Infosys Transform into a Leading Consultancy -- What Is Strategy? -- Building Internal Capabilities: Quality Improvement and Reengineering at Chipset -- Strategy Implementation and the Balanced Scorecard -- The Balanced Scorecard -- Strategy Maps and the Balanced Scorecard -- Implementing a Balanced Scorecard -- Aligning the Balanced Scorecard to Strategy -- Features of a Good Balanced Scorecard -- Pitfalls in Implementing a Balanced Scorecard -- Evaluating the Success of Strategy and Implementation -- Strategic Analysis of Operating Income -- Growth Component of Change in Operating Income -- Price-Recovery Component of Change in Operating Income -- Productivity Component of Change in Operating Income -- Further Analysis of Growth, Price-Recovery, and Productivity Components -- Concepts in Action: The Growth Versus Profitability Choice at Facebook -- Applying the Five-Step Decision-Making Framework to Strategy -- Downsizing and the Management of Processing Capacity -- Engineered and Discretionary Costs -- Identifying Unused Capacity for Engineered and Discretionary Overhead Costs -- Managing Unused Capacity -- Problem for Self-Study -- Decision Points -- Appendix: Productivity Measurement -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 14. Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis -- Minding the Store: Analyzing Customers, Best Buy Decides Not All Are Welcome -- Purposes of Cost Allocation -- Criteria to Guide Cost-Allocation Decisions -- Cost Allocation Decisions -- Allocating Corporate Costs to Divisions and Products -- Implementing Corporate Cost Allocations -- Customer-Profitability Analysis -- Customer-Revenue Analysis -- Customer-Cost Analysis -- Customer-Level Costs -- Customer-Profitability Profiles -- Presenting Profitability Analysis -- Using the Five-Step Decision-Making Process to Manage Customer Profitability -- Concepts in Action: iPhone "Apps" Challenge Customer Profitability at AT & T -- Sales Variances -- Static-Budget Variance -- Flexible-Budget Variance and Sales-Volume Variance -- Sales-Mix Variance -- Sales-Quantity Variance -- Problem for Self-Study -- Decision Points -- Appendix: Mix and Yield Variances for Substitutable Inputs -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 15. Allocation of Support-Department Costs, Common Costs, and Revenues -- Cost Allocation and the Future of "Smart Grid" Energy Infrastructure -- Allocating Support Department Costs Using the Single-Rate and Dual-Rate Methods -- Single-Rate and Dual-Rate Methods -- Allocation Based on the Demand for (or Usage of) Computer Services -- Allocation Based on the Supply of Capacity -- Single-Rate Versus Dual-Rate Method -- Budgeted Versus Actual Costs, and the Choice of Allocaton Base -- Budgeted Versus Actual Rates -- Budgeted Versus Actual Usage -- Allocating Costs of Multiple Support Departments -- Direct Method -- Step-Down Method -- Reciprocal Method -- Overview of Methods -- Allocating Common Costs -- Stand-Alone Cost-Allocation Method -- Incremental Cost-Allocation Method -- Cost Allocations and Contract Disputes -- Contracting with the U.S. Government -- Fairness of Pricing -- Concepts in Action: Contract Disputes over Reimbursable Costs for the U.S. Department of Defense -- Bundled Products and Revenue Allocation Methods -- Bundling and Revenue Allocation -- Stand-Alone Revenue-Allocation Method -- Incremental Revenue-Allocation Method -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 16. Cost Allocation: Joint Products and Byproducts -- Joint Cost Allocation and the Production of Ethanol Fuel -- Joint-Cost Basics -- Allocating Joint Costs -- Approaches to Allocating Joint Costs -- Sales Value at Splitoff Method -- Physical-Measure Method -- Net Realizable Value Method -- Constant Gross-Margin Percentage NRV Method -- Choosing an Allocation Method
- Note continued: Not Allocating Joint Costs -- Irrelevance of Joint Costs for Decision Making -- Sell-or-Process-Further Decisions -- Joint-Cost Allocation and Performance Evaluation -- Pricing Decisions -- Accounting for Byproducts -- Concepts in Action: Byproduct Costing Keeps Wendy's Chili Profitable ... and on the Menu -- Production Method: Byproducts Recognized at Time Production Is Completed -- Sales Method: Byproducts Recognized at Time of Sale -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 17. Process Costing -- ExxonMobil and Accounting Differences in the Oil Patch -- Illustrating Process Costing -- Case 1 Process Costing with No Beginning or Ending Work-in-Process Inventory -- Case 2 Process Costing with Zero Beginning and Some Ending Work-in-Process Inventory -- Physical Units and Equivalent Units (Steps 1 and 2) -- Calculation of Product Costs (Steps 3, 4, and 5) -- Journal Entries -- Case 3 Process Costing with Some Beginning and Some Ending Work-in-Process Inventory -- Weighted-Average Method -- First-In, First-Out Method -- Comparison of Weighted-Average and FIFO Methods -- Transferred-In Costs in Process Costing -- Transferred-In Costs and the Weighted-Average Method -- Transferred-In Costs and the FIFO Method -- Points to Remember About Transferred-In Costs -- Hybrid Costing Systems -- Overview of Operation-Costing Systems -- Concepts in Action: Hybrid Costing for Customized Shoes at Adidas -- Illustration of an Operation-Costing System -- Journal Entries -- Problem for Self-Study -- Decision Points -- Appendix: Standard-Costing Method of Process Costing -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 18. Spoilage, Rework, and Scrap -- Rework Delays the Boeing Dreamliner by Three Years -- Defining Spoilage, Rework and Scrap -- Two Types of Spoilage -- Normal Spoilage -- Abnormal Spoilage -- Spoilage in Process Costing Using Weighted-Average and FIFO -- Count All Spoilage -- Five-Step Procedure for Process Costing with Spoilage -- Weighted-Average Method and Spoilage -- FIFO Method and Spoilage -- Journal Entries -- Inspection Points and Allocating Costs of Normal Spoilage -- Job Costing and Spoilage -- Job Costing and Rework -- Accounting for Scrap -- Recognizing Scrap at the Time of Its Sale -- Recognizing Scrap at the Time of Its Production -- Concepts in Action: Managing Waste and Environmental Costs at KB Home -- Problem for Self-Study -- Decision Points -- Appendix: Standard-Costing Method and Spoilage -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 19. Balanced Scorecard: Quality, Time, and the Theory of Constraints -- Toyota Plans Changes After Millions of Defective Cars Are Recalled -- Quality as a Competitive Tool -- The Financial Perspective: Costs of Quality -- The Customer Perspective: Nonfinancial Measures of Customer Satisfaction -- The Internal-Business-Process Perspective: Analyzing Quality Problems and Improving Quality -- Nonfinancial Measures of Internal-Business-Process Quality -- The Learning-and-Growth Perspective: Quality Improvements -- Making Decisions and Evaluating Quality Performance -- Time as a Competitive Tool -- Customer-Response Time and On-Time Performance -- Bottlenecks and Time Drivers -- Concepts in Action: Overcoming Wireless Data Bottlenecks Relevant Revenues and Relevant Costs of Time -- Theory of Constraints and Throughput-Margin Analysis -- Managing Bottlenecks -- Balanced Scorecard and Time-Related Measures -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 20. Inventory Management, Just-in-Time, and Simplified Costing Methods -- Costco Aggressively Manages Inventory to Thrive in Tough Times -- Inventory Management in Retail Organizations -- Costs Associated with Goods for Sale -- Economic-Order-Quantity Decision Model -- When to Order, Assuming Certainty -- Safety Stock -- Estimating Inventory-Related Relevant Costs and Their Effects -- Considerations in Obtaining Estimates of Relevant Costs -- Cost of a Prediction Error -- Conflict Between the EOQ Decision Model and Managers' Performance Evaluation -- Just-in-Time Purchasing -- JIT Purchasing and EOQ Model Parameters -- Relevant Costs of JIT Purchasing -- Supplier Evaluation and Relevant Costs of Quality and Timely Deliveries -- JIT Purchasing, Planning and Control, and Supply-Chain Analysis -- Inventory Management, MRP and JIT Production -- Materials Requirements Planning -- JIT Production -- Features of JIT Production Systems -- Financial Benefits of JIT and Relevant Costs -- JIT in Service Industries -- Enterprise Resource Planning (ERP) Systems -- Concepts in Action: After the Encore: Just-in-Time Live Concert Recordings -- Performance Measures and Control in JIT Production -- Effect of JIT Systems on Product Costing -- Backflush Costing -- Simplified Normal or Standard Costing Systems -- Accounting for Variances -- Special Considerations in Backflush Costing -- Lean Accounting -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 21. Capital Budgeting and Cost Analysis -- Target's Capital Budgeting Hits the Bull's-Eye -- Stages of Capital Budgeting -- Discounted Cash Flow -- Net Present Value Method -- Internal Rate-of-Return Method -- Comparison of Net Present Value and Internal Rate-of-Return Methods -- Sensitivity Analysis -- Payback Method -- Uniform Cash Flows -- Nonuniform Cash Flows -- Accrual Accounting Rate-of-Return Method -- Relevant Cash Flows in Discounted Cash Flow Analysis -- Relevant After-Tax Flows -- Categories of Cash Flows -- Project Management and Performance Evaluation -- Post-Investment Audits -- Performance Evaluation -- Strategic Considerations in Capital Budgeting -- Investment in Research and Development -- Customer Value and Capital Budgeting -- Concepts in Action: international Capital Budgeting at Disney -- Problem for Self-Study -- Decision Points -- Appendix: Capital Budgeting and Inflation -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- Answers to Exercises in Compound Interest (Exercise 21-16) -- 22. Management Control Systems, Transfer Pricing, and Multinational Considerations -- Symantec Wins $545 million Opinion in Transfer Pricing Dispute with the IRS -- Management Control Systems -- Formal and Informal Systems -- Effective Management Control -- Decentralization -- Benefits of Decentralization -- Costs of Decentralization -- Comparison of Benefits and Costs -- Decentralization in Multinational Companies -- Choices About Responsibility Centers -- Transfer Pricing -- Criteria for Evaluating Transfer Prices -- Calculating Transfer Prices -- An Illustration of Transfer Pricing -- Market-Based Transfer Prices -- Perfectly-Competitive-Market Case -- Distress Prices -- Imperfect Competition -- Cost-Based Transfer Prices -- Full-Cost Bases -- Variable-Cost Bases -- Hybrid Transfer Prices -- Prorating the Difference Between Maximum and Minimum Transfer Prices -- Negotiated Pricing -- Dual Pricing -- A General Guideline for Transfer-Pricing Situations -- Multinational Transfer Pricing and Tax Considerations -- Transfer Pricing for Tax Minimization -- Concepts in Action: Transfer Pricing Dispute Temporarily Stops the Flow of Fiji Water -- Transfer Prices Designed for Multiple Objectives -- Additional Issues in Transfer Pricing -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem -- 23. Performance Measurement, Compensation, and Multinational Considerations -- Misalignment Between CEO Compensation and Performance at AIG -- Financial and Nonfinancial Performance Measures -- Accounting-Based Measures for Business Units -- Return on Investment -- Residual Income -- Economic Value Added -- Return on Sales -- Comparing Performance Measures -- Choosing the Details of the Performance Measures -- Alternative Time Horizons -- Alternative Definitions of Investment -- Alternative Asset Measurements -- Target Levels of Performance and Feedback -- Choosing Target Levels of Performance -- Choosing the Timing of Feed back -- Performance Measurement in Multinational Companies -- Calculating the Foreign Division's ROI in the Foreign Currency -- Calculating the Foreign Division's ROI in U.S. Dollars -- Distinction Between Managers and Organization Units -- The Basic Trade-Off: Creating Incentives Versus Imposing Risk -- Intensity of Incentives and Financial and Nonfinancial Measurements -- Benchmarks and Relative Performance Evaluation -- Performance Measures at the Individual Activity Level -- Executive Performance Measures and Compensation -- Concepts in Action: Government Bailouts, Record Profits, and the 2009 Wall Street Compensation Dilemma -- Strategy and Levers of Control -- Boundary Systems -- Belief Systems -- Interactive Control Systems -- Problem for Self-Study -- Decision Points -- Terms to Learn -- Assignment Material -- Questions -- Exercises -- Problems -- Collaborative Learning Problem
Subjects
- Cost accounting.
- cost accounting.
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