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Cost management: strategies for business decisions

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Bibliographic Details
Format:	Book
Language:	English
Published:	London [u.a.] McGraw-Hill 2012
Edition:	International ed.
Subjects:	Kostenrechnung Kostenmanagement Cost accounting Cost accounting / Case studies Managerial accounting Managerial accounting / Case studies Fallstudiensammlung
Online Access:	Inhaltsverzeichnis
Item Description:	Includes bibliographical references and index
Physical Description:	XXX, 865 S. Ill., graf. Darst.
ISBN:	9780077132392 0077132394

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MARC


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adam_text	Table of Contents About the Authors xviii Preface XX Conversion Guide xxii Acknowledgements xxiv Guided Tour xxv Technology to Enhance Learning and Teaching xxviii PART 1: Setting the Strategic Foundation: The Importance of Analysing and Managing Costs 1 Cost Management and Strategic Decision Making: Evaluating Opportunities and Leading Change 2 2 Product Costing Concepts and Systems 3 Cost Estimation PART 2: Activity-based Management 4 Activity-based Costing Systems 5 Customer Profitability and Activity-based Management 6 Managing Quality and Time to Create Value 46 84 140 186 226 PART 3: Planning and Decision Making 7 Cost Management and Short-term Decision Making 284 8 Strategic Investment Decisions 344 9 Budgeting and Financial Planning 418 PART 4: Product Costing and Cost Allocation 10 Job and Order Costing 476 11 Joint Product and Process Cost Systems 530 12 Managing and Allocating Support Service Costs 574 PART 5: Performance Measurement and Management 13 Analysis and Management of Cost Variances 14 Organizational Design, Responsibility Accounting and Evaluation of Divisional Performance 15 Transfer Pricing 16 Strategy, Balanced Scorecards and Incentive Systems Glossary Index 624 696 746 786 839 850 Detailed Table of Contents About the Authors xviii Preface XX Conversion Guide xxii Acknowledgements xxiv Guided Tour xxv Technology to Enhance Learning and Teaching xxviii PART 1: Setting the Strategic Foundation: The Importance of Analysing and Managing Costs Cost Management and Strategic Decision Making: Evaluating Opportunities and Leading Change 2 Strategic Role of Cost Management 4 Characteristics of Cost Management 4 Characteristics of Cost Management Analysts 5 Cost Management in a Decision-making Framework 7 Stage I: Setting Goals and Objectives 7 Stage II: Gathering Information 8 Stage III: Evaluating Alternatives 1 0 Stage IV: Execution and Tracking Costs 1 0 Stage V: Obtaining Feedback 11 Strategic Decision Making (More about Stage I) 11 Where Do We Want to Go? 12 How Do We Want to Get There? 13 Eight Elements of Leading and Managing Change 17 Evaluation of Plans and Outcomes 19 Benefit-Cost Analysis (More about Stage III) 19 Benefit and Cost Variances (More about Stage V) 21 Ethical Standards 23 Ordinary People Face Ethical Dilemmas 23 Codes of Ethics 24 Sarbanes-Oxley Act 24 Internal Controls to Protect Assets and Provide Quality Information 24 Internal Auditing to Assure Compliance 25 Sustainability and Environmental Strategic Decisions 26 Chapter Summary 28 Key Terms 28 Review Questions 29 Critical Analysis 29 Exercises 30 Problems 33 Cases 39 Solutions to You re the Decision Maker 42 Endnotes 43 References 44 Product Costing Concepts and Systems 46 Cost Management and Cost Concepts 48 The Role of Cost Management at Sacs Chameaux SA 49 Concepts and Measures of Cost 50 Applying Concepts of Cost to Decision Making 51 Cash or Out-of-pocket Cost 52 Variable, Committed and Fixed Costs 53 Sunk and Accrual Costs 55 Reporting Product Costs, Period Costs and Expenses 56 Cost Analysis 58 Costs of Manufacturing 60 Direct Costs 61 Indirect Costs 61 Non-manufacturing Costs 62 Stages of Production and the Flow of Costs 62 Detailed Table of Contents (continued) Schedule of Costs of Goods Completed and Sold 64 Financial Modelling 64 Statement of Cost of Goods Completed and Cost per Unit 65 Chapter Summary 67 Key Terms 68 Review Questions 68 Critical Analysis 69 Exercises 69 Problems 73 Cases 78 Solutions to You re the Decision Maker 82 Endnotes 83 References 83 3 Cost Estimation 84 Reasons for Estimating Costs 86 Cost Management 87 Decision Making 87 Planning and Standard Setting 88 Cost Estimation 88 Cost Object (Vertical Axis) 89 Cost Drivers (Horizontal Axis) 89 Cost Pattern (the Shape of the Line) 90 Cost-estimation Methods 93 Account Analysis Method 93 Application of Account Analysis to C.C. Catering 94 Statistical Cost Estimation Using Linear Regression Analysis 95 Simple Model for Linear Regression Analysis 95 Application of Linear Regression Analysis to C.C. Catering 96 High-low Method 100 Use of Multiple Regression Analysis to Estimate Cost-driver Rates 101 Application of Multiple Regression Analysis to C.C. Catering 101 Cautionary Note about Using Regression 104 Engineering Method 105 Application of the Engineering Method to C.C. Catering 106 Comparison of the Methods and Estimates 108 Choice of Cost Eguation 109 Problems with Forecasting 109 Application of the Methods to C.C. Catering 110 C.C. Catering s Hybrid Cost Estimation Model 110 Use of the Results 111 Appendix ЗА 113 Technical Notes on Regression 113 Appendix 3B 116 Learning Curves 116 Chapter Summary 120 Key Terms 120 Review Questions 120 Critical Analysis 121 Exercises 122 Problems 128 Cases 134 Solutions to You re the Decision Maker 136 Endnotes 137 References 137 Part 2: Activity-based Management 4 Activity-based Costing Systems 140 PML Background 143 PML s Competitive Situation 143 PML s Products and Processes 143 PML s Costing System Options 144 PML s Costing System Team 144 Traditional Costing System 145 Under-costing and Over-costing Products: Cost of Dinner Example 145 Refining a Traditional Costing System 145 Traditional Cost System Example 146 Activity-based Costing System 147 Step 1: Identify and Classify Activities Related to Products 148 Step 2: Estimate the Costs of Activities 151 Step 3: Calculate a Cost-driver Rate for Each Activity Cost Pool 152 Step 4: Assign Activity Costs to Products 156 ABC Profitability Measures 158 Comparisons of ABC Product Profitability 158 MegaBurger Novelty Toy Analysis 160 Unit-level ABC Costing 162 Cost and Information Differences 163 Activity-based Costing in Service and Merchandising Companies 164 Costs and Benefits of Activity-based Costing 164 Chapter Summary 166 Key Terms 166 Review Questions 166 Critical Analysis 167 Exercises 168 Problems 171 Cases 180 Solutions to You re the Decision Maker 182 Endnotes 184 References 184 5 Customer Profitability and Activity-based Management 186 Importance of Customer Profitability 188 Measurement of Customer Profitability 188 Qualitative Considerations 189 Activity-based Costing: Foundation of Process Improvement 190 PML s Initial ABC Customer Profitability Analysis 191 PML s Improved Customer Profitability Analysis 192 Administrative Cost Analysis 192 Identification of Alternative Actions 195 Combination of ABC and Target Costing = Cost Reduction Goal 196 Extension of ABC to Activity-based Management (ABM) 197 Step 5: Customer-perceived Value 198 Sources of Non-value-added Activities 198 Identifying and Measuring Value-added Activities 199 Measures of Value-added Activities 200 Step 6: Performing the Measurement Activity 200 Step 7: Process Improvement Using Activity-based Management 201 Eliminating Non-value-added Activities: A Competitive Necessity, but Risky 201 PML s ABM Analysis 201 Working from the Activity List 202 Estimating the Benefits of ABM 203 Identification of Process Improvement Opportunities 203 Asking the Question, Why? 204 Estimating the Cost of Saved Resources in Exhibit 5.9 205 Implementation of Activity-based Costing and Management 205 Should All Organizations Adopt ABC and ABM? 206 Can You Be Sure that ABC and ABM Will Be Successful? 206 Scope of the ABC/ABM Project 206 Resources Necessary 206 Resistance to Change 207 Information to Be Gathered 208 Analysis Team s Responsibility for Information Analysis and Decision Making 208 PML s Customer Decisions 208 Chapter Summary 209 Key Terms 209 Review Questions 210 Critical Analysis 210 ciancia lauic ui WUII 1С111Э (continued) Exercises 211 Management of Process Productivity Problems 213 and Efficiency 247 Cases 217 Measuring Productivity 247 Solutions to You re the Decision Maker 222 Measuring Average Cycle Time 248 Endnotes 224 Measuring Throughput Efficiency 248 References 224 Managing Process Capacity 249 Measuring Capacity 250 Managing Quality and Time Managing Quality + Time + Productivity + to Create Value 226 Capacity = JIT or Lean Process Management 250 TCSI Background 228 Contrasts of JIT/Lean and Traditional Importance of Quality 228 Processes 251 Methods for Improving Quality 229 JIT/Lean Success Factors 253 Total Quality Management (TQM) 229 Job and Project Management 256 Return on Quality (ROQ) 229 Project Cost and Time Budgets 256 Comparison of the Views of Quality 230 Appendix 6 258 Conflict between TQM and ROQ 230 Construction and Use of Control Dimensions of Quality 231 Charts 258 Product Attributes 231 Chapter Summary 261 Customer Service Before and After Key Terms 261 the Sale 231 Review Questions 262 How Organizations Measure Quality 232 Critical Analysis 262 Variation Causes Poor Quality 232 Exercises 263 Diagnostic Information 234 Problems 268 Customer Satisfaction 239 Cases 275 Trade-offs between Quality and Price 239 Solutions to You re the Decision Maker 278 Identifying Costs of Quality 239 Endnotes 279 Controlling Quality 240 References 280 Failing to Control Quality 240 Measuring Costs of Quality 241 Reporting Costs of Quality 241 Part 3: Corporate Integrity and Quality Ethical Behaviour and Reputation 243 243 Planning and Decision Making Quality Awards and Certificates 243 Managing Time in a Competitive Environment 244 7 Cost Management and New Product Development Time 244 Short-term Decision Making 284 Customer Response Time and Cycle Introducing Financial Modelling 286 Time 244 Different Kinds of Financial Models 287 Costs of Time 245 Objectives of Financial Modelling 287 Time-driven Activity-based Costing Only the Future and Only Differences and Management 245 are Relevant 288 Using Cost-Volume-Profit (CVP) Planning Models 289 Basic Cost-Volume-Profit Model 289 Cost-Volume-Profit Model and the Break-Even Point 290 Basic CVP Model in Graphical Format 290 CVP and Target Income 291 Operating Leverage 292 Set-up of Computer Spreadsheet Models 293 Modelling Taxes, Multiple Products and Multiple Cost Drivers 295 Modelling Taxes 295 Modelling Multiple Products 296 Multiproduct Profit-planning and Decision-making Models 297 Modelling Multiple Cost Drivers 299 Profit-Planning and Decision-making Models with Multiple Cost Drivers 300 Using Sensitivity and Scenario Analysis 303 Sensitivity Analysis: What If? 303 Scenario Analysis (Best, Worst and Most Likely Cases) 305 Modelling Scarce Resources 306 Profit from a Single Scarce Resource Maximization 307 Pricing Decisions 308 Influences on Prices 308 Special-order Price Decisions 312 Appendix 7A 314 Theory of Constraints 314 Appendix 7B 316 Linear Programming 316 Chapter Summary 321 Key Terms 321 Review Questions 321 Critical Analysis 322 Exercises 324 Problems 329 Cases 337 Solutions to You re the Decision Maker 340 Endnotes 341 References 342 8 Strategic Investment Decisions 344 Many Decisions are Investment Decisions 346 Section I: Investment Decisions and Discounted Cash Flows 347 Understanding Investment Alternatives 347 Discounted Cash Flow Analysis 350 Estimating Cash Flows for DCF Analysis 350 Illustration of ShadeTree Roasters Replacement Decision 351 Importance of the Discount Rate 352 Discounting Future Cash Flows 355 Computing the Net Present Value and Payback Period 356 Computing the Internal Rate of Return 358 Comparing Investment Alternatives 360 Application of DCF to Other Common Decisions 363 Replacement of Equipment 363 Outsourcing or Make-or-Buy Decision 364 Add or Drop a Product, Service or Business Unit 367 Choice of the Best Alternative Using Both Financial and Non-financial Information 370 Section II: Strategic Investment Decisions 371 Strategic Investments 371 Uncontrollable External Factors 372 Information about External Events 372 Identification of Uncontrollable Future Events 373 Expected Value Analysis 374 Internal Information 376 Forecasts of ShadeTree s Investment Information 377 Future Actions of Competitors 379 Real Option Value Analysis 381 Value of Deferring Irreversible Decisions 382 Value of the Option to Wait 385 Legal and Ethical Issues in Strategic InvestmentAnalysis 386 Internal Ethical Pressures 386 Roles of Internal Controls and Audits 387 О Detailed Table of Contents (continued) Appendix 8A 388 Analysis of ShadeTree Roasters Decision to Invest Now, Years 1-6 388 Appendix 8B 389 Analysing Real Option Trees by Rolling Backward and with Imperfect Information 389 Chapter Summary 393 Key Terms 393 Review Questions 393 Critical Analysis 394 Exercises 395 Problems 400 Cases 406 Solutions to You re the Decision Maker 411 Endnotes 415 References 415 Budgeting and Financial Planning 418 Strategic Planning: Achieving and Maintaining a Competitive Advantage 420 What Is a Strategic Plan? 420 What are the Key Purposes and Types of Budgeting Systems? 421 Planning 421 Facilitating Communication and Co-ordination 421 Allocating Resources 421 Managing Financial and Operational Performance 422 Evaluating Performance and Providing Incentives 422 Organizations Use Many Types of Budgets 422 Master Budget as a Planning Tool 422 Sales Budget: The Starting Point 422 Operational Budgets: Meeting the Demand for Goods and Services 425 Budgeted Financial Statements: Completing the Master Budget 426 Master Budget for Non-profit Organizations 426 International Aspects of Budgeting 426 Activity-based Budgeting 427 Zero-base Budgeting for Discretionary Costs 428 Illustrating the Master Budget 429 Sales Budget 429 Production Budget 429 Direct Material Budget 430 Direct Labour Budget 432 Manufacturing Overhead Budget 432 Selling, General and Administrative (SG&A) Expense Budget 434 Cash Receipts Budget 435 Cash Payments Budget 436 Cash Budget: Combining Receipts and Payments 438 Budgeted Schedule of Cost of Goods Manufactured and Sold 439 Budgeted Statement of Income 440 Budgeted Statement of Financial Position 440 Assumptions and Predictions Underlying the Master Budget 442 Financial Planning Models 442 Responsibility for Budget Administration 443 Behavioural Implications of Budgets 444 Budgetary Slack: Padding the Budget 444 Participative Budgeting 445 Ethical Issues in Budgeting 445 Appendix 9 447 Inventory Management 447 Chapter Summary 451 Key Terms 451 Review Questions 452 Critical Analysis 452 Exercises 453 Problems 458 Cases 467 Solutions to You re the Decision Maker 471 Endnotes 472 References 473 Part 4: Preventing Improprieties by Product Costing and Cost Allocation Understanding Contracts Appendix 10 501 502 Throughput Costing 502 10 Job and Order Costing 476 Chapter Summary 503 Key Terms 503 Background for Creazioni di Vetro Alternative Product-costing Systems Choices Among Major Types of Product 478 479 Review Questions Critical Analysis 504 504 Costing Systems 479 Exercises 505 Widespread Use of Job-order Costing 480 Problems 513 Basic Cost-flow Model 481 Cases 523 Cost Flows and Jobs 481 Solutions to You re the Decision Maker 526 Simple Cost-flow Examples 481 Endnotes 528 Managing and Using Cost-flow References 529 Information 482 The Process of Tracking Job-order 11 Joint Product and Process Costs 483 Cost Systems 530 Product-costing System Design Issues Recording Job-order Costs 484 484 Joint Product Processes 532 Manufacturing Overhead Costs 487 The Importance of Split Off 532 Use of Predetermined Overhead Rates 488 Joint Process: One Input - More Than One Output The Joint Product Decision: Which COO Manufacturing Overhead Variance 490 Disposition of the Manufacturing Outputs to Produce? 533 Overhead Variance 491 Estimation of Profits from Joint Prorating a Materially Large Variance 492 Products 533 Periodic Operating Income 493 Decision Whether to Sell Products Job-order Costing Information and at Split-off or After Further Processing 535 Decision Making 494 Allocating Joint Costs for Internal and Income-reporting Effects of Alternative External Reporting 538 Product-costing Methods 495 Distinguishing between Main and Comparison of Absorption and Variable Costing 495 By-products Joint Cost Allocation Methods 538 539 Evaluation of Absorption and Variable Costing 496 Process Costing Systems 541 Broadening Job-order Costing s Allocation of Process Costs to Products 541 Relevance to the Value Chain 498 Example 1: Process with No Opening Job-order Costing in Service WIP Inventory or Spoilage 541 Organizations 499 Example 2: Process with Opening Ethical Issues for Managing and and Closing WIP and Spoilage 544 Reporting Job Costs 500 Appendix 11 A 548 Misstating the Stage of Completion 500 Other Economic Value Methods Charging Costs to the Wrong Job 500 to Allocate Joint Costs 548 Misrepresenting the Cost of a Job 501 Appendix 11B 549 Detailed Table of Contents (continued) Process Cost Allocations to Products Using First-in, First-out (FIFO) Costing 549 Appendix 11C 552 Operation Costing 552 Chapter Summary 555 Key Terms 555 Review Questions 556 Critical Analysis 556 Exercises 558 Problems 562 Cases 566 Solutions to You re the Decision Maker 571 Endnotes 572 References 572 12 Managing and Allocating Support Service Costs 574 Service Cost Challenge 576 Internal or Outsourced Support Services? 576 Management of Internal Support Service Costs 577 Distinguishing Between Support Service and Production Departments 578 Deciding Who Pays for Internal Support Service Costs 579 Allocating Service Costs for Decision Making 580 Allocating Service Costs for Pricing 581 Allocating Service Costs for Cost-based Contracting 581 Allocating Service Costs for Influencing Behaviour 582 Allocating Service Costs for Required Reporting 582 Cost Allocations of Internal Support Service Costs 583 Cost Allocation Process Steps 583 Step 1: Identify the Categories and Amounts of Costs to Be Allocated to Internal Customers 584 Choice of Cost Pools 584 Costs of Resources Used versus Costs of Resources Supplied 584 Step 2: Choose the Appropriate Cost Allocation Base(s) 585 Choice of Plausible and Justifiable Allocation Bases 586 Step 3: Select and Use an Appropriate Method to Compute Cost Allocation Rates and Cost Allocations of Service Department Costs 587 Cost Allocations Using the Direct Method 588 Application of the Direct Method to the City of Storhavn 588 Summary of the Direct Method 590 Benefits and Limitations of the Direct Method 590 Second-stage Cost Allocations in the Public Works Department 591 Cost Allocations Using the Step Method 592 Application of the Step Method to the City of Storhavn 593 Benefits and Limitations of the Step Method 596 Step 4: Determine Whether the Cost Allocations Achieve the Desired Results 596 Accuracy of Cost Allocations 597 Consistency of Cost Allocation 597 Behavioural Effects of Cost Allocations 598 Costs and Benefits of Cost Allocations 599 Ethical Issues 600 Appendix 12 601 Reciprocal Method 601 Chapter Summary 606 Key Terms 606 Review Questions 606 Critical Analysis 607 Exercises 608 Problems 611 Cases 615 Solutions to You re the Decision Maker 618 Endnotes 621 References 622 Part 5: Performance Measurement and Management 13 Analysis and Management of Cost Variances Use of Standard Costing Systems 624 for Control 626 Management by Exception 626 Setting Standards 627 Perfection versus Practical Standards: A Behavioural Issue 628 Use of Standards by Non-manufacturing Organizations 629 Cost Variance Analysis for Direct Manufacturing Costs 629 Direct Material and Direct Labour Standards 629 Standard Costs Given Actual Output: Flexible Budget and Volume Variance 630 Actual Material Costs and Labour Costs 630 Price and Quantity Variances in General 631 Direct Material Variances 632 Direct Labour Variances 633 Multiple Types of Direct Material and Direct Labour 634 Allowance for Defects or Spoilage 634 Cost Variance Analysis for Flexible Overhead Budgets 635 Flexible Overhead Budget 635 Choice of Activity Measure 636 Overhead Cost Variances 638 Fixed Overhead Variance 640 Using the Overhead Cost Performance Report in Cost Management 641 Activity-based Flexible Budget 642 Significance of Cost Variances: When to Follow Up 644 Size of Variances 645 Recurring Variances 645 Trends 645 Controllability 646 Favourable Variances 646 Costs and Benefits of Investigation 646 Behavioural Effects of Standard Costing 646 Which Managers Influence Cost Variances? 647 Interaction among Variances 648 Changing Role of Standard Costing Systems in Today s Manufacturing Environment 649 Standard Costing: Its Traditional Advantages 649 Impact of Information Technology 650 Adaptation of Standard Costing Systems 650 Kaizen Costing 652 Accounting for Cost Variances 653 Appendix 13A 656 Production Mix and Yield Variances 656 Appendix 13B 659 Sales Variance Analysis 659 Chapter Summary 667 Key Terms 667 Review Questions 668 Critical Analysis 669 Exercises 669 Problems 675 Cases 686 Solutions to You re the Decision Maker 690 Endnotes 692 References 693 14 Organizational Design, Responsibility Accounting and Evaluation of Divisional Performance Decentralized Organizations and Responsibility Accounting Centralization versus Decentralization Benefits and Costs of a Decentralized Organization Structure 696 698 698 699 Detailed Table of Contents (continued) Responsibility Accounting 700 Standard Cost Centre 700 Discretionary Cost Centre 700 Revenue Centre 701 Profit Centre 701 Investment Centre 701 Illustration of Responsibility Accounting 702 Corporate Level 702 Division Level 703 Plant Level 704 Department Level 704 Work Centre Level 704 Performance Reports 705 Budgets, Variance Analysis and Responsibility Accounting 706 How Responsibility Accounting Affects Behaviour 707 Does It Provide Information or Place Blame? 707 Is There Really Cost or Revenue Controllability? 707 How Can Desired Behaviour be Motivated? 707 Responsibility Accounting, Internal Controls and Sarbanes-Oxley 708 Performance Measurement in Investment Centres 708 Cost of Capital 709 Return on Investment as a Performance Measure 710 Why ROI Can Provide the Wrong Investment Incentives 712 Residual Income as a Performance Measure 714 Economic Value Added (EVA) as a Performance Measure 716 Measuring Invested Capital and Operating Income for EVA, ROI and Rl Performance Measures 717 Measurina Invested Caoital 717 Measuring Investment Centre Operating Income Market Value versus Historical-cost Accounting 721 Measuring Operating Income and Invested Capital: Summary 722 Alternatives to Accounting Performance Measures 724 Share Price Performance 724 Non-financial Performance Measures 724 Viewing an Investment Centre as a Collection of Investments 725 Performance Measurement in Non-profit Organizations 725 Internal Transactions and Transfer Prices 726 Chapter Summary 726 Key Terms 727 Review Questions 727 Critical Analysis 728 Exercises 728 Problems 732 Cases 739 Solutions to You re the Decision Maker 743 Endnotes 744 References 745 720 15 Transfer Pricing 746 Impact of Transfer Pricing on Organizations 748 The Organization as a Whole 748 The Divisional Perspective 750 Creating Behavioural Congruence 753 Transfer Pricing Methods 753 General Transfer Pricing Rule 753 Market-based Transfer Price 756 Cost-based Transfer Prices 758 Negotiated Transfer Prices 760 Informational Difficulties in Implementing Transfer Pricing Methods 760 Undermining of Divisional Autonomy 761 Remedy for Motivational Problems of Transfer Pricing and Profit Centres 762 International Transfer Pricing Practices and Regulations 764 Multinational Transfer Pricing 764 Segment Reporting and Transfer Pricing 766 Chapter Summary 767 Key Terms 768 Review Questions 768 Critical Analysis 769 Exercises 769 Problems 773 Cases 778 Solutions to You re the Decision Maker 782 Endnotes 783 References 784 16 Strategy, Balanced Scorecards and Incentive Systems 786 Van Coenink Bankiers: Ahead of the Competition 788 Leading Performance Indicators to Communicate, Motivate and Evaluate 788 Leading Indicators 788 Communicating Strategy to Employees: Strategy Maps 789 Motivating Employees and Evaluating Performance 790 Modern Origin and Use of Balanced Scorecards 790 Balanced Scorecard s Strategic Performance Measures 791 Implementation of a Balanced Scorecard 792 Organizational Learning and Growth 792 Business and Production Process Performance 794 Customer Performance 795 Financial Performance 797 Benefits and Costs of a Balanced Scorecard 799 Benefits of a Balanced Scorecard 799 Costs of a Balanced Scorecard 801 Balanced Scorecard Implementation at VCB 802 Fundamental Principles of Incentive Systems 805 Measurement of Performance 805 Compensation Based on Measured Performance 806 Features of Performance-based Incentive Systems 808 Absolute or Relative Performance 808 Formula-based or Subjective Performance Financial or Non-financial Performance Narrow or Broad Responsibility of Performance 810 811 813 813 814 Current or Deferred Rewards Salary, Bonus or Share Rewards Incentive Plans in Non-profit Organizations 817 Ethical Aspects of Incentives and Compensation 817 Summary of VCB s Incentive System 818 Balanced Scorecard-based Incentives at VCB 819 Chapter Summary 820 Key Terms 821 Review Questions 821 Critical Analysis 822 Exercises 823 Problems 825 Cases 829 Solutions to You re the Decision Maker 835 Endnotes 836 References 837 Glossary Index 839 850
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isbn	9780077132392 0077132394
language	English
oai_aleph_id	oai:aleph.bib-bvb.de:BVB01-025887722
oclc_num	844040377
open_access_boolean
owner	DE-N2 DE-739 DE-Aug4
owner_facet	DE-N2 DE-739 DE-Aug4
physical	XXX, 865 S. Ill., graf. Darst.
publishDate	2012
publishDateSearch	2012
publishDateSort	2012
publisher	McGraw-Hill
record_format	marc
spelling	Cost management strategies for business decisions Marc Wouters ... International ed. London [u.a.] McGraw-Hill 2012 XXX, 865 S. Ill., graf. Darst. txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index Kostenrechnung (DE-588)4032592-1 gnd rswk-swf Kostenmanagement (DE-588)4323274-7 gnd rswk-swf Cost accounting Cost accounting / Case studies Managerial accounting Managerial accounting / Case studies (DE-588)4522595-3 Fallstudiensammlung gnd-content Kostenrechnung (DE-588)4032592-1 s Kostenmanagement (DE-588)4323274-7 s DE-604 Wouters, Marc 1965- Sonstige (DE-588)101817155X oth Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025887722&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis
spellingShingle	Cost management strategies for business decisions Kostenrechnung (DE-588)4032592-1 gnd Kostenmanagement (DE-588)4323274-7 gnd
subject_GND	(DE-588)4032592-1 (DE-588)4323274-7 (DE-588)4522595-3
title	Cost management strategies for business decisions
title_auth	Cost management strategies for business decisions
title_exact_search	Cost management strategies for business decisions
title_full	Cost management strategies for business decisions Marc Wouters ...
title_fullStr	Cost management strategies for business decisions Marc Wouters ...
title_full_unstemmed	Cost management strategies for business decisions Marc Wouters ...
title_short	Cost management
title_sort	cost management strategies for business decisions
title_sub	strategies for business decisions
topic	Kostenrechnung (DE-588)4032592-1 gnd Kostenmanagement (DE-588)4323274-7 gnd
topic_facet	Kostenrechnung Kostenmanagement Fallstudiensammlung
url	http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025887722&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
work_keys_str_mv	AT woutersmarc costmanagementstrategiesforbusinessdecisions

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