Managerial accounting for business decisions:
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Harlow, England
Prentice Hall Financial Times
2009
|
| Edition: | 3. ed. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXV, 567 S. graph. Darst. |
| ISBN: | 9780273717553 |
Staff View
MARC
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| 100 | 1 | |a Proctor, Ray |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Managerial accounting for business decisions |c Ray Proctor. With contributions from Nigel Burton, Adrian Pierce and Gary Burmiston |
| 250 | |a 3. ed. | ||
| 264 | 1 | |a Harlow, England |b Prentice Hall Financial Times |c 2009 | |
| 300 | |a XXV, 567 S. |b graph. Darst. | ||
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Record in the Search Index
| _version_ | 1804138516172505088 |
|---|---|
| adam_text | Brief Contents
Introduction to the book for students xv
Introduction to the book for lecturers xx
About the authors xxiv
Acknowledgements xxvi
Publisher s acknowledgements xxvii
Part 1 Foundations 1
1 Cost behaviour 3
2 The difference between profit and cash 16
Part 2 Financial management 27
3 Ratio analysis and financial management 29
4 Working capital management 65
Part 3 Decision making 103
5 Variable costing and breakeven analysis 105
6 Short-term decisions using variable costing 136
7 Short-term decisions using relevant costing 160
8 Capital investment appraisal for long-term decisions 181
Part 4 Product costing and pricing 223
9 Product costs using absorption costing 225
10 Product costs using activity-based costing 247
11 Comparison of profits under absorption and variable costing 281
12 Pricing your products 301
13 Divisional performance and transfer pricing 320
Part 5 Business performance management 345
14 Budgets and their creation 347
15 Using budgets to control operations 379
BRIEF CONTENTS
16 Budgets, behaviour and beyond budgeting 409
17 Balanced scorecards 448
18 Not-for-profit organizations 486
Glossary 511
Answers to end-of-chapter questions 518
Index 563
Contents
Introduction to the book for students
Introduction to the book for lecturers
About the authors
Acknowledgements
Publisher s acknowledgements
Parti
FOUNDATIONS
1 Cost behaviour
Introduction
Learning objectives
Types of business
Product and period costs
Variable and fixed costs
Self-assessment question SI .1
Analysis of semi-variable costs into their
fixed and variable elements
Self-assessment question SI .2
Absorption costs: direct and indirect
Comparison of alternative cost analyses
Cost analysis by activity
Relevant and irrelevant costs
Summary
Further reading
Answers to self-assessment questions
Review questions
2 The difference between profit
and cash
Introduction
Learning objectives
Example 2.1: the Pizza Wagon
The lifetime view
Self-assessment question S2.1
The manager s point of view
Summary
xv Further reading
xx Answers to self-assessment question
xxiv Review questions
xxvi
XXVII
3
3
4
4
5
6
7
8
11
11
12
12
13
13
14
14
15
16
16
18
18
20
21
22
24
Part 2
FINANCIAL MANAGEMENT
3 Ratio analysis and financial
management
Introduction
Learning objectives
Financial statements and ratio analysis
Performance ratios: profitability
Return on capital employed (ROCE)
Self-assessment question S3.1
Profit margin
Self-assessment question S3.2
Asset utilization
Self-assessment question S3.3
Self-assessment question S3.4
Gross margin and cost control
Self-assessment question S3.5
Performance ratios: working captial
Stock turnover ratio
Self-assessment question S3.6
Debtor collection period
Self-assessment question S3.7
Creditor payment period
Self-assessment question S3.8
The cash cycle
Self-assessment question S3.9
Position ratios: liquidity
Self-assessment question S3.10
Position ratios: gearing/capital structure
Self-assessment question S3.11
Self-assessment question S3.12
Self-assessment question S3.13
24
25
25
27
29
30
30
31
33
35
36
36
36
36
37
37
38
39
39
39
40
41
41
42
43
43
43
43
44
44
45
47
48
CONTENTS
Limitations of ratio analysis
The manager s point of view
Summary
Summary of ratio formulae
Further reading
Answers to self-assessment questions
Case study: )RP Ltd
Questions
Review questions
4 Working capital management
Introduction
Learning objectives
Definition of working capital
Objectives of working capital management
Effect of working capital financing policies
on profitability
Stock
Self-assessment question S4.1
Debtors
Cash
Self-assessment question S4.2
Creditors
Self-assessment question S4.3
Cycles and ratios
The manager s point of view
Summary
Further reading
Answers to self-assessment questions
Case study: Kindorm Ltd
Theory questions on working capital
management
Questions
Review questions
Part 3
DECISION MAKING
5 Variable costing and breakeven
analysis
Introduction
Learning objectives
Cost behaviour
Contribution
Self-assessment question S5.1
Breakeven point
48 Self-assessment question S5.2 110
49 Self-assessment question S5.3 110
51 Margin of safety 111
52 Self-assessment question S5.4 112
53 Operational gearing 112
53 Activity levels for target profits 113
57 Self-assessment question S5.5 114
59 Profit-volume relationships 114
64 Self-assessment question S5.6 115
Effect of alternative sales mixes 115
65 Self-assessment question S5.7 116
65 Limitations of variable costing 117
66 The manager s point of view 118
67 Summary 119
68 Further reading 120
Answers to self-assessment questions 120
69 Case study 1: the Hutton Vinification
71 Company 124
72 Case study 2: the Muesli Company 127
76 Questions 130
80 Review questions 135
82 83 6 Short-term decisions using
84 variable costing 136
84 Introduction 136
87 Learning objectives 137
89 Cessation of activities 137
90 Self-assessment question S6.1 139
91 Scarce resources 140
93 Self-assessment question S6.2 142
One-off contracts 142
95 Self-assessment question S6.3 144
95 Make or buy 144
102 Self-assessment question S6.4 146
Limitations of short-term decision making
using variable costing 146
The manager s point of view 146
103 Summary 148
Further reading 149
Answers to self-assessment questions 149
Case study: Sara Wray Enterprises 152
105 Questions 155
106 Review questions 159
106 107 7 Short-term decisions using
107 relevant costing 160
108 Introduction 160
109 Learnina objectives 161
CONTENTS
Definition of relevant cost/revenue 161
Types of relevant cost 161
Types of irrelevant cost 162
Example 7.1: relevant costing 163
Self-assessment question S7.1 164
Opportunity benefits 164
Relevant cost of materials 164
Example 7.2: relevant cost of materials 165
Self-assessment question S7.2 166
Qualitative factors 167
Limitations of decision making using
relevant costing 167
The manager s point of view 168
Summary 170
Further reading 1 70
Answers to self-assessment questions 1 71
Case study: Roverco 1 72
Questions 174
Review questions 180
8 Capital investment appraisal
for long-term decisions i8i
Introduction 182
Learning objectives 183
Method 1: accounting rate of return (ARR) 183
Self-assessment question S8.1 184
Converting profits to cash flows 185
Self-assessment question S8.2 185
Method 2: payback period (PBP) 186
Self-assessment question S8.3 187
Discounting cash flows 188
Self-assessment question S8.4 189
Self-assessment question S8.5 190
Method 3: net present value (NPV) 190
Self-assessment question S8.6 190
Example 8.1: Eastshore Airport,
NPV calculation 191
Self-assessment question S8.7 192
Method 4: internal rate of return (IRR) 192
Self-assessment question S8.8 193
Comparing NPV with IRR 194
Capital rationing and the profitability index 194
Self-assessment question S8.9 196
Discounted payback period? 196
Choice of method 197
Sensitivity analysis 197
Example 8.2: sensitivity analysis 197
The financing decision 200
Qualitative factors 201
Limitations of capital investment appraisal
techniques 201
The manager s point of view 202
Summary 204
Further reading 204
Answers to self-assessment questions 205
Case study 1: Nufone 209
Case study 2: the Private Healthcare Croup 211
Questions 214
Review questions 220
Present value factor table 221
Cumulative present value factor table
(annuities) 222
Part 4
PRODUCT COSTING AND PRICING 223
9 Product costs using absorption
costing 225
Introduction 225
Learning objectives 226
Direct and indirect costs 226
Self-assessment question S9.1 227
The absorption cost of products 227
Attaching overheads to products 228
Single- and multi-product companies 230
Example 9.1: overhead attachment 231
Self-assessment question S9.2 233
Limitations of absorption costing 234
The manager s point of view 234
Summary 237
Further reading 237
Answers to self-assessment questions 237
Case study: Travelsound 239
Questions 242
Review questions 246
10 Product costs using
activity-based costing 247
Introduction 247
Learning objectives 249
A new philosophy 250
The ABC process 251
Example 10.1: Storrit Ltd 251
Example 10.1 (continued): Storrit Ltd 253
Self-assessment question SI 0.1 254
CONTENTS
Cross-subsidization of costs 255
Self-assessment question SI 0.2 255
ABC in service businesses 256
Self-assessment question SI 0.3 257
Activity-based management 258
Limitations of ABC 263
The manager s point of view 264
Summary 267
Further reading 267
Answers to self-assessment questions 268
Case study: Danbake 271
Questions 273
Review questions 280
11 Comparison of profits under
absorption and variable costing 281
Introduction 281
Learning objectives 282
Treatment of fixed production overheads 282
Predetermination of overhead absorption
rates 282
Under- and overabsorption of overheads 284
Example 11.1: the Jinasy Umbrella Company 285
Self-assessment question S11.1 287
Limitations 288
The manager s point of view 288
Summary 290
Further reading 292
Answer to self-assessment question 292
Case study: Canco Foods 294
Questions 296
Review questions 300
12 Pricing your products 301
Introduction 301
Learning objectives 302
The economist s view 302
Self-assessment question S12.1 304
The accountant s view 305
Self-assessment question S12.2 307
The marketer s view 308
Target pricing and costing: an integrated
strategy 309
Limitations of pricing theory 310
The manager s point of view 310
Summary 313
Further reading 313
Answers to self-assessment questions 314
Case study: the Electric Car Company 315
Questions 317
Review ques tions 319
13 Divisional performance and
transfer pricing 320
Introduction 321
Learning objectives 322
Bases of divisionalization 323
Advantages of divisionalization 323
Role of head office 324
Degrees of responsibility 324
Return on investment (ROI) 326
Residual income (Rl) 326
Which measure should be used: ROI or Rl? 327
Self-assessment question SI 3.1 327
Transfer pricing 328
Ideal transfer prices 328
Determination of transfer prices 328
Example 13.1: financial data for product X 330
Self-assessment question SI 3.2 330
International transfer pricing 331
Limitations 331
The manager s point of view 332
Summary 334
Further reading 335
Answers to self-assessment questions 335
Case study: VT Ltd 337
Questions 339
Review questions 343
Part 5
BUSINESS PERFORMANCE
MANAGEMENT 345
14 Budgets and their creation 347
Introduction 348
Learning objectives 348
Budgets and their context 348
Functional budgets 349
Self-assessment question SI 4.1 350
Self-assessment question SI 4.2 350
Self-assessment question SI 4.3 351
Self-assessment question S14.4 351
Self-assessment question SI 4.5 352
Master budgets 352
CONTENTS
Self-assessment question SI 4.6 353
Types of budget and budgeting methods 354
Flexible budgets 355
Example 14.1: illustration using the
semi-variable cost of water supplies 356
Self-assessment question SI4.7 357
Standards and how they are set 357
Limitations of budgets as plans 359
The manager s point of view 359
Summary 361
Further reading 362
Answers to self-assessment questions 362
Case study: the Omega Document
Case Company 365
Questions 372
Review questions 378
15 Using budgets to control
operations 379
Introduction 380
Learning objectives 380
The budgetary control system 381
Variances 381
Variance formulae and raw material variances 382
Self-assessment question SI 5.1 384
Direct labour variances 384
Self-assessment question S15.2 385
Idle time variance 385
Self-assessment question SI 5.3 386
Variable overhead variances 386
Self-assessment question SI 5.4 387
Fixed overhead variances 387
Self-assessment question SI 5.5 388
The importance of the flexed budget 388
Example 15.1: illustration with raw materials
(manufacturing wheels from raw plastic) 389
Self-assessment question SI 5.6 389
Sales variances 390
Self-assessment question SI 5.7 390
The profit reconciliation statement 390
Self-assessment question S15.8 391
Variance relationships 391
Additional benefits of the budgetary
control system 391
Managing the cost of the system 393
Responsibility accounting 393
Limitations of the budgetary control process 394
The manager s point of view 394
Summary 397
Ten points for good budgetary control 397
Further reading 398
Answers to self-assessment questions 398
Case study: Anomira Ltd 402
Questions 403
Review questions 408
16 Budgets, behaviour and
beyond budgeting 409
Introduction 409
Learning objectives 411
The weaknesses of traditional budgeting 412
Budget games: definition and types 41 3
The effect of employee cash incentive
schemes 414
Moving future sales to the present 416
Moving present sales to the future 41 7
The utility of budgetary control systems 418
The Beyond Budgeting philosophy 418
Devolved leadership: structure and principles 420
Adaptive (or flexible) processes 422
Example 16.1: Svenska Handelsbanken 425
Example 16.2: the Toyota production system 429
Membership of the Beyond Budgeting
Round Table 431
Limitations 431
The counter point of view 432
Better Budgeting 434
The manager s point of view 435
Summary 438
Further reading 439
Case study: Medibed 440
Review questions 447
17 Balanced scorecards 448
Introduction 448
Learning objectives 450
Structure and internal relationships 451
Practical application 454
Flexibility 456
Cascading and employee involvement 457
Strategy maps 459
Example 17.1: a multinational pharmaceutical
company 460
Example 17.2: Tesco s steering wheel 462
Successful implementation of a balanced
scorecard 462
CONTENTS
Strategy formulation 463 Decision making 490
Multiple benefits 464 Breakeven analysis 491
Financial incentives 465 Budgets and control 492
A note of caution 465 Control without budgets? 493
Limitations 466 Performance measurement 494
The manager s point of view 468 Performance management success factors
Summary 470 in the NHS 497
The way forward 470 Targets, the National Health Service and
Appendix: three popular business target games 498
performance strategies 471 Service performance and response times 502
Further reading 477 Capital investment appraisal 502
Case study: Chumpy Lighting Ltd 479 Summary 504
Review questions 485 Further reading 505
Case study: Freeshire Hospital Trust 506
18 Not-for-profit organizations 486 Question Review questions 509 510
Introduction 486
Learning objectives 488 Glossary 511
Costing 488 Answers to end-of-chapter questions 518
Pricing 489 Index 563
|
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| id | DE-604.BV035242849 |
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| indexdate | 2024-07-09T21:29:26Z |
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| language | English |
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| spelling | Proctor, Ray Verfasser aut Managerial accounting for business decisions Ray Proctor. With contributions from Nigel Burton, Adrian Pierce and Gary Burmiston 3. ed. Harlow, England Prentice Hall Financial Times 2009 XXV, 567 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Managerial accounting HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017048606&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Proctor, Ray Managerial accounting for business decisions Managerial accounting |
| title | Managerial accounting for business decisions |
| title_auth | Managerial accounting for business decisions |
| title_exact_search | Managerial accounting for business decisions |
| title_full | Managerial accounting for business decisions Ray Proctor. With contributions from Nigel Burton, Adrian Pierce and Gary Burmiston |
| title_fullStr | Managerial accounting for business decisions Ray Proctor. With contributions from Nigel Burton, Adrian Pierce and Gary Burmiston |
| title_full_unstemmed | Managerial accounting for business decisions Ray Proctor. With contributions from Nigel Burton, Adrian Pierce and Gary Burmiston |
| title_short | Managerial accounting for business decisions |
| title_sort | managerial accounting for business decisions |
| topic | Managerial accounting |
| topic_facet | Managerial accounting |
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