Management accounting for business:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | Undetermined |
| Veröffentlicht: |
London
Cengage Learning
2009
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| Ausgabe: | 4. ed. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XII, 488 S. |
| ISBN: | 9781408017715 |
Internformat
MARC
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Datensatz im Suchindex
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|---|---|
| adam_text | Titel: Management accounting for business
Autor: Drury, Colin
Jahr: 2009
BRIEF CONTENTS
Introduction to management accounting 3
An introduction to cost terms and concepts 25
PART 2 INFORMATION FOR DECISION-MAKING 47
3 Cost-volume-profit analysis 49
4 Measuring relevant costs and revenues for decision-making 77
5 Pricing decisions and profitability analysis 105
6 Capital investment decisions: appraisal methods 129
PART 3 COST ASSIGNMENT 159
7 Cost assignment 161
8 Activity-based costing
187
PART U INFORMATION FOR PLANNING. CONTROL AND PERFORMANCE
MEASUREMENT 211
9 The budgeting process 213
10 Management control systems 249
11 Standard costing and variance analysis 277
12 Divisional financial performance measures 307
13 Transfer pricing in divisionalized companies 325
PART 5 STRATEGIC COST MANAGEMENT AND PERFORMANCE
MANAGEMENT 349
14 Strategic cost management 351
15 Strategic performance management 381
CONTENTS
Preface xiii
Walk through tour xix
About the website 000
List of figures 000
List of real world views 000
PART 1 INTRODUCTION TO MANAGEMENT AND COST
ACCOUNTING 1
1 INTRODUCTION TO MANAGEMENT ACCOUNTING 3
The users of accounting information 4
Differences between management accounting and financial accounting
The decision-making process 6
Changing competitive environment 9
Changing product life cycles 10
Focus on customer satisfaction and new management approaches 10
The impact of information technology 14
International convergence of management accounting practices 15
Functions of management accounting 16
Brief historical review of management accounting 18
Summary of the contents of the book 19
Summary 20
Key terms and concepts 21
Assessment material 23
AN INTRODUCTION TO COST TERMS AND CONCEPTS 25
Cost objects 26
Direct and indirect costs 26
Period and product costs 29
Cost behaviour 30
Relevant and irrelevant costs and revenues 34
Avoidable and unavoidable costs 35
Sunk costs 35
Opportunity costs 36
Incremental and marginal costs 37
The cost and management information system 38
Summary 39
Key terms and concepts 40
Assessment material 41
PART 2 INFORMATION FOR DECISION-MAKING 47
3 COST-VOLUME-PROFIT ANALYSIS 49
Curvilinear CVP relationships 50
Linear CVP relationships 51
A numerical approach to cost-volume-profit analysis 53
The profit-volume ratio 55
Relevant range 56
Margin of safety 56
Constructing the break-even chart 57
Alternative presentation of cost-volume-profit analysis 58
Multi-product cost-volume-profit analysis 60
Operating leverage 63
Cost-volume-profit analysis assumptions 65
The impact of information technology 66
Separation of costs into their fixed and variable elements 67
Summary 67
Key terms and concepts 68
Assessment material 69
4 MEASURING RELEVANT COSTS AND REVENUES FOR
DECISION-MAKING 77
Identifying relevant costs and revenues 78
Importance of qualitative factors 79
Special pricing decisions 79
Product mix decisions when capacity constraints exist 84
Replacement of equipment - the irrelevance of past costs 86
Outsourcing and make or buy decisions 88
Discontinuation decisions 91
Determining the relevant costs of direct materials 94
Determining the relevant costs of direct labour 94
Summary 95
Key terms and concepts 96
Assessment material 97
5 PRICING DECISIONS AND PROFITABILITY ANALYSIS 105
The role of cost information in pricing decisions 106
A price-setting firm facing short-run pricing decisions 108
A price-setting firm facing long-run pricing decisions 108
A price-taking firm facing short-run product mix decisions 113
A price-taking firm facing long-run product mix decisions 113
Surveys of practice relating to pricing decisions 116
Limitations of cost-plus pricing 117
Reasons for using cost-plus pricing 117
Pricing policies 119
Customer profitability analysis 120
Summary 122
Key terms and concepts 123
Assessment material 124
6 CAPITAL INVESTMENT DECISIONS: APPRAISAL METHODS 129
The opportunity cost of an investment 130
Compounding and discounting 131
The concept of net present value 133
Calculating net present values 134
Internal rate of return 136
Relevant cash flows 139
Timing of cash flows 139
Comparison of net present value and internal rate of return 140
Payback method 143
Accounting rate of return 146
The effect of performance measurement on capital investment decisions 148
Qualitative factors 149
Weighted average cost of capital 149
Taxation and investment decisions 150
Summary 150
Key terms and concepts 152
Assessment material 153
PART 3 COST ASSIGNMENT 159
7 COST ASSIGNMENT 161
Direct and absorption costing systems 162
An overview of the cost assignment process for an absorption costing system 163
Different costs for different purposes 164
Cost-benefit issues and cost system design 165
Plant-wide (blanket) overhead rates 167
The two-stage allocation process 168
An illustration of the two-stage process for a traditional costing system 170
Extracting relevant costs for decision-making 175
Budgeted overhead rates 175
Under- and over-recovery of overheads 177
Non-manufacturing overheads 178
Summary 179
Key terms and concepts 180
Assessment material 181
8 ACTIVITY-BASED COSTING 187
Comparison of traditional and ABC systems 188
Volume-based and non-volume-based cost drivers 189
An illustration of the two-stage allocation process for ABC 192
Designing ABC systems 196
Activity hierarchies 199
Cost versus benefit considerations 200
ABC in service organizations 200
ABC cost management applications 202
Summary 202
Key terms and concepts 203
Assessment material 204
PART 4 INFORMATION FOR PLANNING, CONTROL AND
PERFORMANCE MEASUREMENT 211
9 THE BUDGETING PROCESS 213
The strategic planning, budgeting and control process 214
The multiple functions of budgets 216
Conflicting roles of budgets 218
The budget period 218
Administration of the budgeting process 219
Stages in the budgeting process 221
A detailed illustration 224
Computerized budgeting 233
Activity-based budgeting 234
Zero-based budgeting 236
Criticisms of budgeting 238
Summary 239
Key terms and concepts 240
Assessment material 242
10 MANAGEMENT CONTROL SYSTEMS 249
Different types of controls 250
Feedback and feed-forward controls 252
Harmful side-effects of controls 253
Management accounting control systems 255
Responsibility centres 256
The nature of management accounting control systems 257
The controllability principle 259
Setting financial performance targets and determining how challenging they should
be 263
Participation in the budgeting and target setting process 265
Summary 266
Key terms and concepts 268
Assessment material 269
11 STANDARD COSTING AND VARIANCE ANALYSIS 277
Operation of a standard costing system 278
Establishing cost standards 280
Purposes of standard costing 284
Variance analysis 286
Material variances 288
Material price variances 288
Material usage variance 289
Total material variance 290
Wage rate variance 290
Labour efficiency variance 291
Total labour variance 292
Variable overhead variances 292
Similarities between materials, labour and overhead variances 293
Fixed overhead expenditure or spending variance 294
Sales variances 295
Total sales margin variance 295
Reconciling budgeted profit and actual profit 298
Summary 298
Key terms and concepts 300
Assessment material 301
12 DIVISIONAL FINANCIAL PERFORMANCE MEASURES 307
Divisional organizational structures 308
Advantages and disadvantages of divisionalization 309
Prerequisites for successful divisionalization 310
Distinguishing between managerial and economic performance of the
division 310
Alternative divisional profit measures 311
Surveys of practice 312
Return on investment 312
Residual income 313
Economic value added (EVA(TM!) 314
Addressing the dysfunctional consequences of short-term financial performance
measures 316
Summary 317
Key terms and concepts 318
Assessment material 319
13 TRANSFER PRICING IN DIVISIONALIZED COMPANIES 325
Purpose of transfer pricing 326
Alternative transfer pricing models 327
Market-based transfer prices 328
Cost plus a mark-up transfer prices 330
Marginal/variable cost transfer prices 332
Full cost transfer prices without a mark-up 333
Negotiated transfer prices 334
Marginal/variable cost plus opportunity cost transfer prices 334
Comparison of cost-based transfer pricing models 335
Proposals for resolving transfer pricing conflicts 336
International transfer pricing 337
Summary 339
Key terms and concepts 340
Assessment material 341
PART 5 STRATEGIC COST MANAGEMENT AND
PERFORMANCE MANAGEMENT 349
U STRATEGIC COST MANAGEMENT 351
Life-cycle cost management 352
Target costing 353
Activity-based management 358
Business process re-engineering 361
Cost of quality 362
Cost management and the value chain 364
Benchmarking 365
Environmental cost management 366
Just-in-time systems 367
Summary 372
Key terms and concepts 374
Assessment material 375
15 STRATEGIC PERFORMANCE MANAGEMENT 381
Accounting in relation to strategic positioning 382
The balanced scorecard 383
Performance measurement in service organizations 393
Summary 397
Key terms and concepts 398
Assessment material 399
Case studies 405
Bibliography 409
Appendices 413
Answers to review problems 417
Index 481
|
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| discipline | Wirtschaftswissenschaften |
| edition | 4. ed. |
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