ACP Managerial Accounting 10E

by Copeland/Dascher/Strawser/Strawser

• ISBN13: 9780873939225
• ISBN10: 0873939220
• Edition: 10th
• Format: ACP Title
• Copyright: 2001-02-07
• Publisher: Dame Publishing

Table of Contents

Introduction to Managerial Accounting
Introduction to Managerial Accounting	p. 1
Learning Objectives
Introduction
The Need for Managerial Accounting Information
Accounting Systems and the Management Process
Identifying and Gathering Information on Transactions
Preparing Reports
Using Reports for Decisions and Activities
Feedback
The Role of Accountants in the Management Process
Location of the Accounting Function
Overview of the Managerial Accounting Function
Preparing Budgets and Devising Standards
Accumulating Data on Costs and Profits
Comparing Actual Activity with Plans or Budgets
Advising Management About Nonroutine Decisions
Summary
Key Definitions
Questions
Exercises and Problems
Analyzing Cost Behavior	p. 1
Learning Objectives
Introduction
Types of Costs
Direct Materials
Direct Labor
Manufacturing Overhead
Overview of Cost Behavior
Level of Activity (Cost Driver)
Relevant Range
Illustration of Cost Behavior
Fixed Costs
Variable Costs
Step Costs
Semi-Variable (Mixed) Costs
Analyzing Cost Behavior
The Graphical Method
The Two-Point Method
Semi-Averages Method
Least Squares Regression Method
Cost Behavior for Retail and Service Companies
Using Managerial Accounting Information: Better Books
Summary
Key Definitions
Questions
Exercises and Problems
Cost Accumulation
Job-Order Costing	p. 1
Learning Objectives
Introduction
Importance of Cost Accumulation
Preparation of Financial Statements
Internal Decision-Making Process
Introduction to Job-Order Costing: The Ace Construction Company
Obtain Direct Materials
Incur Manufacturing Costs
Completion of Production
Sale of Inventory
Preparation of Financial Statements
Cost of Goods Manufactured Statement
Cost of Goods Sold Statement
Summary: The Ace Construction Company
Using Managerial Accounting Information: Ace Construction Company
Summary
Key Definitions
Questions
Exercises and Problems
Cost Accumulation--Process Costing	p. 1
Learning Objectives
Introduction
An Overview of Process Costing
Comprehensive Example: The American Vegetable Company
Account for Units Produced
Determine Total Manufacturing Costs
Determine Equivalent Units of Production
Calculate the Cost per Unit
Accumulate Costs with Inventory Units
Transfer and Completion of Production
Joint Manufacturing Processes
Cost Accumulation for Service Organizations
Just-in-Time Inventory and Production Management
Using Managerial Accounting Information: The American Vegetable Company
Summary
Key Definitions
Questions
Exercises and Problems
Process Costing Using the FIFO Method
Cost Accumulation and Cost Flows in a Just-in-Time Costing System
Cost Allocation--Overhead Costs and Activity-Based Costing	p. 1
Learning Objectives
Introduction
The Nature of Manufacturing Overhead Costs
Applying Overhead Cost to Production
Recording Overhead Costs
Two-Stage Allocations of Service Department Costs
Determining Departmental Overhead Rates
Allocating Service Department Costs to Operating Departments (Stage 1 Allocations)
Activity-Based Costing
Identify Overhead Costs Pools
Identify Cost Drivers
Allocate Costs to Inventory Items
Other Issues Involved with Activity-Based Costing
Using Managerial Accounting Data: The American Vegetable Company
Summary
Key Definitions
Questions
Exercises and Problems
Management's Use of Managerial Accounting Information
Cost Behavior--Cost-Volume-Profit Analysis and Variable and Absorption Costing	p. 1
Learning Objectives
Introduction
CVP Analysis: Graphical Approach
CVP Analysis: Equation Approaches
General Equation Approach
Unit Contribution Margin Approach
Contribution Margin Ratio Approach
Other Uses of CVP Analysis
Desired Level of Profit (Before Taxes)
Desired Profit (After Taxes)
Variable Levels of Profit
Change in Variable Costs/Contribution Margin
Change in Fixed Costs
Calculating Necessary Selling Prices
CVP for Multiple Products
Operating Leverage and Automated Manufacturing Processes
Assumptions of CVP Analysis
Practical Application of CVP Analysis
Income Determination: Absorption and Variable Costing
Absorption (Full) Costing
Variable (Direct) Costing
Comparing Absorption and Variable Costing
Using Managerial Accounting Data: Golden Music Producers
Summary
Key Definitions
Questions
Exercises and Problems
Standard Costing and Variance Analysis	p. 1
Learning Objectives
Introduction
Performance Standards
Direct Materials and Direct Labor Costs
Manufacturing Overhead Costs
Example of Performance Standards
Use of Performance Standards
Variance Analysis: Direct Materials and Direct Labor Costs
Direct Material Variances
Direct Labor Variances
Cost Accumulation in a Standard Costing System
Recent Developments in the Manufacturing Environment
Benefits of Performance Standards and Standard Costing
Using Managerial Accounting Information: Sportsworld
Summary
Key Definitions
Questions
Exercises and Problems
Variance Analysis: Manufacturing Overhead Costs
Variable Overhead Costs
Variable Overhead Efficiency Variances
Variable Overhead Spending Variance
Summary: Variable Overhead Variances
Fixed Overhead Costs
Fixed Overhead Volume Variance
Fixed Overhead Spending Variance
Summary: Fixed Overhead Variances
Overall Analysis of Overhead Variances
Accumulation of Manufacturing Overhead Costs with Production
Budgeting	p. 1
Learning Objectives
Introduction
Purposes of Budgeting
The Budgeting Process
Comprehensive Example: Operating Budgets
Sales Budget
Production Budget
Direct Materials Purchases and Usage Budgets
Direct Labor and Manufacturing Overhead Budget
Nonmanufacturing Expense Budget
Budgeted Financial Statements-Operations
Financial and Resource Budgets
Cash Budget
Accounts Receivable Budget
Inventory Budgets
Property, Plant and Equipment Budget
Accounts Payable Budget
Notes Payable Budget
Budgeted Shareholders' Equity
Nonquantitative Aspects of Budgeting
The Difficulty of Budget Standards
Participative Budgeting and Slack
Budgets for Merchandising and Service Organizations
Using Managerial Accounting Information: Toy Concepts, Inc
Summary
Key Definitions
Questions
Exercises and Problems
Control of the Organization--Responsibility Accounting	p. 1
Learning Objectives
Introduction
Management Control Systems
Responsibility Centers
Responsibility Accounting at Blast! Snack Foods
Cost Centers
Profit Centers
Investment Centers
Return on Investment (ROI)
Residual Income
Issues in Evaluating Investment Centers
Assets
Net Income
Life of Investment
Transfer Pricing
Total Quality Management
Nonfinancial Performance and the Balanced Scorecard
Use of Managerial Accounting Data: Blast! Snack Foods
Summary
Key Definitions
Questions
Exercises and Problems
The Use of Managerial Accounting Data in Making Short-Term Decisions	p. 1
Introduction
Terminology for Short-Term Decisions
Decisions
Relevant Costs
Opportunity Costs
Sunk Costs
Summary
The Use of Managerial Accounting Data in Making Short-Term Decisions
Product Pricing Decisions
Contribution Margin (Variable) Approach
Full-Cost (Absorption) Approach
Setting Prices to Earn a Profit
Elasticity of Demand
Special Orders
Special Orders-Excess Capacity
Special Orders-No Excess Capacity
Qualitative Considerations
Summary: Special Orders
Continuation of a Segment or Product Line
Other Considerations-Resource Constraints
Summary
Additional Processing
Make-Or-Buy Decisions
Alternate Use of Capacity
Qualitative Considerations
Summary
Key Definitions
Questions
Exercises and Problems
Capital Budgeting: Search for Long-Run Alternatives	p. 1
Introduction
An Introduction to Capital Budgeting
Types of Capital Budgeting Decisions
Capital Budgeting-Quantitative Factors
Capital Budgeting-Qualitative Factors
Capital Budgeting Techniques That Ignore the Time Value of Money
Payback Period
Average Rate of Return (Accounting Rate of Return)
Capital Budgeting Techniques Which Consider the Time Value of Money
Net Present Value
Future Cash Inflows and Outflows-Basic
Evaluating Competing Projects Using Net Present Value
Additional Complexities Using Net Present Value
Limitations of the Net Present Value Method
Advantages of the Net Present Value Method
Summary
Internal Time-Adjusted Rate of Return
Summary: Techniques Which Consider the Time Value of Money
Summary of Capital Budgeting Techniques
Postaudit of Capital Investments
Capital Budgeting for High-Technology Assets
The Use of Capital Budgeting Techniques in Practice
Summary
Key Definitions
Questions
Exercises and Problems
Present Value (The Time Value of Money)
Determining Present Value-Single Sum
Determining Present Value-Annuities
Financial Statement Analysis	p. 1
Learning Objectives
Introduction
Comparative Financial Statements
Basic Analytical Procedures
Horizontal Analysis
Vertical Analysis
Common-Size Statements
Ratio Analysis
Comparison with Standards
Analysis for Common Stockholders
Rate of Return on Total Assets
Rate of Return on Common Stockholders' Equity
Earnings Per Share of Common Stock
Price-Earnings Ratio on Common Stock
Analysis for Long-Term Creditors
Debt-to-Equity Ratio
Number of Times Interest Earned
Analysis for Short-Term Creditors
Current Ratio
Acid-Test or Quick Ratio
Analysis of Accounts Receivable
Analysis of Inventories
Interpretation of Analyses
Summary
Key Definitions
Questions
Exercises and Problems
The Statement of Cash Flows	p. 1
Learning Objectives
Introduction
Importance of Cash Flows
A Brief History
Cash Flow Concept
The Statement of Cash Flows
Cash from Operations
Direct Method
Indirect Method
Preparation of the Statement of Cash Flows
Change in Cash
Changes in Noncash Accounts
The Statement of Cash Flows
Worksheet Approach
Additional Problems in the Analysis of the Statement of Cash Flows
Uncollectible Accounts
Dividends
Income Tax Expense
Stock Dividends and Conversions
Significant Noncash Transactions
Multiple Changes Affecting Specific Accounts
Summary
Key Definitions
Questions
Exercises and Problems
Index	p. 1
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