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Cost Accounting: A Managerial Emphasis,9780131495388
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Cost Accounting: A Managerial Emphasis

by ; ;
Edition:
13th
ISBN13:

9780131495388

ISBN10:
0131495380
Format:
Paperback
Pub. Date:
1/1/2009
Publisher(s):
Prentice Hall
List Price: $198.66
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Summary

Horngrenrs"sCost Accountingdefined the cost accounting market and continues to innovate today by consistently integrating the most current practice and theory. This acclaimed, number one market-leading book embraces the basic theme of "different costs for different purposes." It reaches beyond cost accounting procedures to consider concepts, analyses, and management. This latest edition ofCost Accountingincorporates the latest research and most up-to-date thinking into all relevant chapters.Professional issues related to Management Accounting and Management Accountants are emphasized. Chapter topics cover the accountant's role in the organization to performance measurement, compensation, and multinational considerations.For future accountants who want to enhance their understanding ofand ability tosolve cost accounting problems.

Table of Contents

Part One Cost Accounting Fundamentals
1(179)
The Accountant's Role in the Organization
1(25)
Management Accounting, Financial Accounting, and Cost Accounting
2(1)
Strategic Decisions and the Management Accountant
3(1)
The Management Accountant's Role in Implementing Strategy
4(3)
Value-Chain Analysis
4(1)
Supply-Chain Analysis
5(1)
Key Success Factors
6(1)
Planning and Control Systems
7(1)
Feedback: Linking Planning and Control
7(1)
Concepts in Action: E-Business Strategies and the Management Accountant
8(3)
An Example: Planning and Control and the Management Accountant
9(1)
Problem-Solving, Scorekeeping, and Attention-Directing Roles
10(1)
Key Management Accounting Guidelines
11(1)
Cost-Benefit Approach
11(1)
Behavioral and Technical Considerations
11(1)
Global Surveys of Company Practice: Today's Management Accountant
12(1)
Different Costs for Different Purposes
13(1)
Organization Structure and the Management Accountant
13(2)
Line and Staff Relationships
13(1)
The Chief Financial Officer and the Controller
13(2)
Focus on Values and Behaviors: Management Accounting Beyond the Numbers
15(1)
Professional Ethics
15(11)
Ethical Guidelines
16(1)
Typical Ethical Challenges
17(1)
Problem for Self-Study
18(1)
Decision Points
18(1)
Terms to Learn
19(1)
Assignment Material
19(5)
Video Case: Regal Marine
24(2)
An Introduction to Cost Terms and Purposes
26(34)
Costs and Cost Terminology
27(1)
Direct Costs and Indirect Costs
27(2)
Cost Tracing and Cost Allocation
27(2)
Focus on Values and Behaviors: Overcharging the U.S. Government
29(1)
Factors Affecting Direct/Indirect Cost Classifications
29(1)
Cost-Behavior Patterns: Variable Costs and Fixed Costs
30(1)
Global Surveys of Company Practice: Distinguishing Between Variable Costs and Fixed Costs
31(2)
Cost Drivers
32(1)
Concepts in Action: How Application Service Providers (ASPs) Influence Cost Structures
33(1)
Relevant Range
33(1)
Relationships of Types of Costs
34(1)
Total Costs and Unit Costs
34(2)
Unit Costs
34(2)
Use Unit Costs Cautiously
36(1)
Manufacturing-, Merchandising-, and Service-Sector Companies
36(1)
Financial Statements, Inventoriable Costs, and Period Costs
36(2)
Types of Inventory
37(1)
Commonly Used Classifications of Manufacturing Costs
37(1)
Inventoriable Costs
37(1)
Period Costs
38(1)
Illustrating the Flow of Inventoriable Costs and Period Costs
38(4)
Manufacturing-Sector Example
38(2)
Recap of Inventoriable Costs and Period Costs
40(2)
Prime Costs and Conversion Costs
42(1)
Measuring Costs Requires Judgment
42(4)
Measuring Labor Costs
42(1)
Overtime Premium and Idle Time
43(1)
Benefits of Defining Accounting Terms
44(1)
Different Meanings of Product Costs
44(2)
A Framework For Cost Accounting and Cost Management
46(14)
Problem for Self-Study
47(2)
Decision Points
49(1)
Terms to Learn
49(1)
Assignment Material
50(8)
Video Case: Three Dog Bakery
58(2)
Cost-Volume-Profit Analysis
60(37)
Cost-Volume-Profit Assumptions and Terminology
61(1)
Essentials of CVP Analysis
62(3)
Equation Method
63(1)
Contribution Margin Method
64(1)
Graph Method
64(1)
Breakeven Point and Target Operating Income
65(3)
Target Operating Income
66(1)
Target Net Income and Income Taxes
67(1)
Using CVP Analysis for Decision Making
68(1)
Decision to Advertise
68(1)
Decision to Reduce Selling Price
69(1)
Sensitivity Analysis and Uncertainty
69(2)
Cost Planning and CVP
71(3)
Alternative Fixed-Cost/Variable-Cost Structures
71(1)
Operating Leverage
72(2)
Focus on Values and Behaviors: Worldcom: Simply a Matter of Poor Planning?
74(1)
Effects of Sales Mix on Income
74(1)
Concepts in Action: Influencing Cost Structures to Manage the Risk-Return Trade-Off at Amaxon.com
75(2)
Multiple Cost Drivers
77(1)
CVP Analysis in Service and Nonprofit Organizations
78(1)
Contribution Margin Versus Gross Margin
78(3)
Merchandising Sector
79(1)
Manufacturing Sector
79(1)
Problem for Self-Study
79(1)
Decision Points
80(1)
Appendix: Decision Models and Uncertainty
81(16)
Terms to Learn
84(1)
Assignment Material
84(11)
Video Case: Store 24
95(2)
Job Costing
97(41)
Building-Block Concepts of Costing Systems
98(1)
Job-Costing and Process-Costing Systems
99(1)
Actual Costing in Manufacturing
100(3)
General Approach to Job Costing
101(2)
Global Surveys of Company Practice: Cost-Allocation Bases Used for Manufacturing Overhead
103(3)
The Role of Technology
105(1)
Concepts in Action: Job Costing on the Joint Strike Fighter Project
106(1)
Time Period Used to Compute Indirect-Cost Rates
106(1)
Focus on Values and Behaviors: Enron's Catastrophic Mistakes
107(1)
Normal Costing
108(1)
A Normal Job-Costing System in Manufacturing
109(9)
General Ledger and Subsidiary Ledgers
109(2)
Explanations of Transactions
111(7)
Nonmanufacturing Costs and Job Costing
118(1)
Budgeted Indirect Costs and End-of-Accounting-Year Adjustments
118(4)
Adjusted Allocation-Rate Approach
119(1)
Proration Approach
119(2)
Write-Off to Cost of Goods Sold Approach
121(1)
Choice Among Approaches
121(1)
Multiple Overhead Costs Pools
122(1)
Variations From Normal Costing: A Service-Sector Example
122(16)
Problem for Self-Study
123(2)
Decision Points
125(1)
Terms to Learn
126(1)
Assignment Material
126(11)
Video Case: Wheeled Coach
137(1)
Activity-Based Costing and Activity-Based Management
138(42)
Broad Averaging and Its Consequences
139(1)
Undercosting and Overcosting
139(1)
Product-Cost Cross-Subsidization
140(1)
Simple Costing System at Plastim Corporation
140(3)
Design, Manufacturing, and Distribution Processes
140(1)
Simple Costing System Using a Single Indirect-Cost Pool
141(2)
Refining a Costing System
143(1)
Activity-Based Costing Systems
144(4)
Plastim's ABC System
145(2)
Cost Hierarchies
147(1)
Implementing Activity-Based Costing at Plastim
148(4)
Comparing Alternative Costing Systems
152(1)
Using ABC Systems for Improving Cost Management and Profitability
152(3)
Activity-Based Costing and Department-Costing Systems
155(1)
Implementing ABC systems
156(1)
ABC in Service and Merchandising Companies
157(1)
Global Surveys of Company Practice: Varying Interest in Activity-Based Costing
158(1)
Focus on Values and Behaviors: Successfully Championing ABC
159(1)
Concepts in Action: Analyzing and Managing Multichannel Banking with Activity-Based Costing
160(20)
Problem for Self-Study
161(2)
Decision Points
163(1)
Terms to Learn
164(1)
Assignment Material
164(15)
Case: Activity-Based Costing: Columbo Frozen Yogurt
179(1)
Part Two Tools for Planning and Control
180(152)
Master Budget and Responsibility Accounting
180(41)
Budgets and the Budgeting Cycle
181(1)
Strategic Plans and Operating Plans
181(1)
Budgeting Cycle and Master Budget
182(1)
Advantages of Budgets
182(2)
Coordination and Communication
182(1)
Framework for Judging Performance
183(1)
Motivating Managers and Other Employees
183(1)
Challenges in Administering Budgets
183(1)
Time Coverage of Budgets
184(1)
Steps in Developing an Operating Budget
184(1)
Global Surveys of Company Practice: Budget Practices Around the Globe
185(8)
Computer-Based Financial Planning Models
193(1)
Concepts in Action: Web-Enabled Budgeting and Hendrick Motorsports
194(1)
Kaizen Budgeting
195(1)
Activity-Based Budgeting
196(1)
Budgeting and Responsibility Accounting
197(1)
Organization Structure and Responsibility
197(1)
Feedback
198(1)
Responsibility and Controllability
198(1)
Human Aspects of Budgeting
199(1)
Budgeting in Multinational Companies
200(1)
Focus on Values and Behaviors: Management Accountants: The Heart of the Budgeting Process
201(2)
Problem for Self-Study
202(1)
Decision Points
203(1)
Appendix: The Cash Budget
203(18)
Terms to Learn
207(1)
Assignment Material
208(12)
Video Case: Ritz-Carlton Hotels
220(1)
Flexible Budgets, Direct-Cost Variances, and Management Control
221(35)
The Use of Variances
222(1)
Static Budgets and Static-Budget Variances
222(2)
Flexible Budgets
224(1)
Flexible-Budget Variances and Sales-Volume Variances
225(2)
Sales-Volume Variances
225(1)
Flexible-Budget Variances
226(1)
Price Variances and Efficiency Variances For Direct-Cost Inputs
227(2)
Obtaining Budgeted Input Prices and Budgeted Input Quantities
227(2)
Global Surveys of Company Practice: The Widespread Use of Standard Costs
229(3)
Data for Calculating Webb's Price Variances and Efficiency Variances
229(1)
Price Variances
230(1)
Efficiency Variance
231(1)
Concepts in Action: Weapons Against Waste: Variance Analysis at Sandox
232(3)
Summary of Variances
233(1)
Journal Entries Using Standard Costs
234(1)
Implementing Standard Costing
235(1)
Standard Costing and Information Technology
235(1)
Wide Applicability of Standard Costing
235(1)
Management Uses of Variances
236(2)
Multiple Causes of Variances
236(1)
When to Investigate Variances
236(1)
Performance Measurement Using Variances
236(1)
Organization Learning
237(1)
Continuous Improvement
237(1)
Focus on Values and Behaviors: Starbucks, McDonald's, and Johnson & Johnson: Making Good Use of Variances
238(1)
Financial and Nonfinancial Performance Measures
238(1)
Variance Analysis and Activity-Based Costing
239(2)
Relating Batch Costs to Product Output
239(1)
Price and Efficiency Variances
240(1)
Focus on Hierarchy
240(1)
Benchmarking and Variance Analysis
241(15)
Problem for Self-Study
242(1)
Decision Points
243(1)
Terms to Learn
244(1)
Assignment Material
244(11)
Case: Management Control at Starbucks
255(1)
Flexible Budgets, Overhead Cost Variances, and Management Control
256(38)
Planning of Variable and Fixed Overhead Costs
257(1)
Planning Variable Overhead Costs
257(1)
Planning Fixed Overhead Costs
257(1)
Standard Costing at Webb Company
257(1)
Developing Budgeted Variable Overhead Cost Rates
258(1)
Variable Overhead Cost Variances
259(4)
Flexible-Budget Analysis
259(1)
Variable Overhead Efficiency Variance
260(1)
Variable Overhead Spending Variance
261(2)
Journal Entries for Variable Manufacturing Overhead Costs and Variances
263(1)
Developing Budgeted Fixed Overhead Rates
263(1)
Fixed Overhead Cost Variances
264(1)
Production-Volume Variance
265(3)
Computing the Production-Volume Variance
266(1)
Interpreting the Production-Volume Variance
267(1)
Journal Entries for Fixed Manufacturing Overhead Costs and Variances
268(1)
Concepts in Action: Variance Analysis and Standard Costing: Helping Sandoz Manage Overhead Costs
269(1)
Focus on Values and Behaviors: The Challenges of Overhead Variances
270(1)
Integrated Analysis of Overhead Cost Variances
271(2)
4-, 3-, 2-, and 1-Variance Analysis
271(2)
Production-Volume Variance and Sales-Volume Variance
273(1)
Global Surveys of Company Practice: Variance Analysis and Control Decisions
274(1)
Financial and Nonfinancial Performance Measures
275(1)
Overhead Cost Variances in Nonmanufacturing and Service Settings
276(1)
Activity-Based Costing and Variance Analysis
276(18)
Flexible Budget and Variance Analysis for Variable Setup Overhead Costs
277(2)
Flexible Budget and Variance Analysis for Fixed Setup Overhead Costs
279(1)
Problem for Self-Study
280(2)
Decision Points
282(1)
Terms to Learn
283(1)
Assignment Material
283(9)
Case: Teva Sport Sandals
292(2)
Inventory Costing and Capacity Analysis
294(38)
Part One: Inventory Costing for Manufacturing Companies
295(1)
Variable Costing and Absorption Costing
295(3)
Data for Stassen Company for 2006
295(2)
Comparing Income Statements over One Year
297(1)
Explaining Differences in Operating Income
298(4)
Data for Stassen Company for 2006, 2007, and 2008
298(1)
Comparing Income Statements over Three Years
299(2)
Effect of Sales and Production on Operating Income
301(1)
Performance Measures and Absorption Costing
302(1)
Undesirable Buildup of Inventories
303(1)
Focus on Values and Behaviors: Bristol-Myers-Squibb's Questionable Inventory Strategy
303(1)
Global Surveys of Company Practice: Usage of Variable Costing and Absorption Costing by Companies
304(1)
Proposals for Revising Performance Evaluation
304(1)
Throughput Costing
305(1)
Concepts in Action: Yield Improvements and the Production-Volume Variance at Analog Devices
306(1)
Comparison of Alternative Inventory-Costing Methods
307(1)
Problem for Self-Study
308(1)
Part Two: Denominator-Level Capacity Concepts and Fixed-Cost Capacity Analysis
309(1)
Alternative Denominator-Level Capacity Concepts for Absorption Costing
309(2)
Theoretical Capacity and Practical Capacity
309(1)
Normal Capacity Utilization and Master-Budget Capacity Utilization
310(1)
Effect on Budgeted Fixed Manufacturing Cost Rate
310(1)
Choosing a Capacity Level
311(6)
Product Costing and Capacity Management
311(1)
Pricing Decisions and the Downward Demand Spiral
312(1)
Performance Evaluation
313(1)
External Reporting
314(2)
Regulatory Requirements
316(1)
Difficulties in Forecasting Chosen Denominator-Level Concept
316(1)
Capacity Costs and Denominator-Level Issues
317(2)
Problem for Self-Study
318(1)
Decision Points
318(1)
Appendix: Breakeven Points in Variable Costing and Absorption Costing
319(13)
Terms to Learn
320(1)
Assignment Material
320(11)
Video Case: Cavco Industries
331(1)
Part Three Cost Information for Decisions
332(123)
Determining How Costs Behave
332(46)
General Issues in Estimating Cost Functions
333(3)
Basic Assumptions and Examples of Cost Functions
333(2)
Brief Review of Cost Classification
335(1)
Cost Estimation
336(1)
The Cause-and-Effect Criterion in Choosing Cost Drivers
336(1)
Cost Estimation Methods
336(1)
Global Surveys of Company Practice: International Comparison of Cost Classification by Companies
337(1)
Industrial Engineering Method
337(1)
Conference Method
337(1)
Account Analysis Method
338(1)
Quantitative Analysis Methods
338(1)
Steps in Estimating a Cost Function Using Quantitative Analysis
338(6)
High-Low Method
341(1)
Regression Analysis Method
342(2)
Evaluating Cost Drivers of the Estimated Cost Function
344(1)
Focus on Values and Behaviors: Boeing's Management Accountants: Embracing Opportunities and Taking Challenges
345(2)
Cost Drivers and Activity-Based Costing
347(1)
Nonlinearity and Cost Functions
347(1)
Concepts in Action: Activity-Based Costing: Identifying Cost and Revenue Drivers
348(1)
Learning Curves and Nonlinear Cost Functions
349(4)
Cumulative Average-Time Learning Model
350(1)
Incremental Unit-Time Learning Model
350(2)
Setting Prices, Budgets, and Standards
352(1)
Data Collection and Adjustment Issues
353(3)
Problem for Self-Study
354(2)
Decision Points
356(1)
Appendix: Regression Analysis
356(22)
Terms to Learn
363(1)
Assignment Material
364(13)
Case: U.S. Brewing Industry
377(1)
Decision Making and Relevant Information
378(41)
Information and the Decision Process
379(1)
The Concept of Relevance
380(1)
Relevant Costs and Relevant Revenues
380(1)
Qualitative and Quantitative Relevant Information
381(1)
An Illustration of Relevance: Choosing Output Levels
381(3)
One-Time-Only Special Orders
381(2)
Potential Problems in Relevant-Cost Analysis
383(1)
Insourcing-versus-Outsourcing and Make-versus-Buy Decisions
384(2)
Outsourcing and Idle Facilities
384(2)
Strategic and Qualitative Factors
386(1)
Opportunity Costs and Outsourcing
386(1)
Concepts in Action: The Benefits and Costs of ``Offshoring''
387(2)
The Opportunity Cost Approach
388(1)
Concepts in Action: Delta Airlines, the Internet, and Opportunity Costs
389(2)
Carrying Costs of Inventory
390(1)
Product-Mix Decisions Under Capacity Constraints
391(2)
Customer Profitability, Activity-Based Costing, and Relevant Costs
393(3)
Relevant-Revenue and Relevant-Cost Analysis of Dropping a Customer
394(1)
Relevant-Revenue and Relevant-Cost Analysis of Adding a Customer
395(1)
Relevant-Revenue and Relevant-Cost Analysis of Closing or Adding Branches or Segments
395(1)
Irrelevance of Past Costs and Equipment-Replacement Decisions
396(2)
Decisions and Performance Evaluation
398(1)
Focus on Values and Behaviors: Beyond the Walls of the Accounting Department
399(2)
Problem for Self-Study
399(2)
Decision Points
401(1)
Appendix: Linear Programming
401(18)
Terms to Learn
404(1)
Assignment Material
404(13)
Video Case: Store 24
417(2)
Pricing Decisions and Cost Management
419(36)
Major Influences on Pricing Decisions
420(1)
Customers, Competitors, and Costs
420(1)
Time Horizon of Pricing Decisions
420(1)
Costing and Pricing for the Short Run
421(1)
Relevant Costs for Short-Run Pricing Decisions
421(1)
Strategic and Other Factors in Short-Run Pricing
421(1)
Costing and Pricing for the Long Run
422(3)
Calculating Product Costs for Long-Run Pricing Decisions
422(2)
Alternative Long-Run Pricing Approaches
424(1)
Target Costing for Target Pricing
425(2)
Understanding Customers Perceived Value
425(1)
Doing Competitor Analysis
425(1)
Implementing Target Pricing and Target Costing
425(1)
Value Engineering, Cost Incurrence, and Locked-In Costs
426(1)
Concepts in Action: Extreme Target Pricing and Cost Management at IKEA
427(2)
Value -Chain Analysis and Cross-Functional Teams
428(1)
Focus on Values and Behaviors: Pricing Decisions Are Never Arbitrary
429(1)
Achieving the Target Cost per Unit for Provalue
430(2)
Cost-Based (Cost-Plus) Pricing
432(3)
Cost-Plus Target Rate of Return on Investment
432(1)
Alternative Cost-Plus Methods
433(1)
Cost-Plus Pricing and Target Pricing
434(1)
Global Surveys of Company Practice: Differences in Pricing Practices and Cost Management Methods in Various Countries
435(1)
Life-Cycle Product Budgeting and Costing
436(2)
Life-Cycle Budgeting and Pricing Decisions
436(2)
Customer Life-Cycle Costing
438(1)
Considerations Other than Costs in Pricing Decisions
438(1)
Effects of Antitrust Laws on Pricing
439(16)
Problem for Self-Study
441(1)
Decision Points
442(1)
Terms to Learn
443(1)
Assignment Material
443(11)
Video Case: Grand Canyon Railway
454(1)
Part Four Cost Allocation and Revenues
455(76)
Strategy, Balanced Scorecard, and Strategic Profitability Analysis
455(37)
What Is Strategy?
456(1)
Strategy Implementation and the Balanced Scorecard
457(5)
The Balanced Scorecard
457(1)
Quality Improvement and Reengineering at Chipset
458(1)
Four Perspectives of the Balanced Scorecard
459(2)
Implementing a Balanced Scorecard
461(1)
Aligning the Balanced Scorecard to Strategy
461(1)
Focus on Values and Behaviors: The New Wave of Accounting: Contributing to Strategy
462(2)
Features of a Good Balanced Scorecard
462(1)
Pitfalls in Implementing a Balanced Scorecard
463(1)
Global Surveys of Company Practice: Widening the Performance-Measurement Lens Using the Balanced Scorecard
464(1)
Evaluating the Success of Strategy and Implementation
465(1)
Strategic Analysis of Operating Income
465(7)
Growth Component of Change in Operating Income
467(1)
Price-Recovery Component of Change in Operating Income
468(1)
Productivity Component of Change in Operating Income
469(2)
Further Analysis of Growth, Price-Recovery, and Productivity Components
471(1)
Downsizing and the Management of Capacity
472(1)
Concepts in Action: Growth-versus-Profitability Choices of Dot-Com Companies
473(7)
Identifying Unused Capacity for Engineered and Discretionary Overhead Costs
474(1)
Managing Unused Capacity
475(1)
Problem for Self-Study
476(3)
Decision Points
479(1)
Appendix: Productivity Measurement
480(12)
Terms to Learn
482(1)
Assignment Material
482(8)
Video Case: McDonald's Corporation
490(2)
Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis
492(39)
Purposes of Cost Allocation
493(1)
Criteria to Guide Cost-Allocation Decisions
494(2)
Cost Allocation and Costing Systems
496(3)
Allocating Corporate Costs to Divisions and Products
498(1)
Global Surveys of Company Practice: Allocation of Corporate and Other Support Costs to Divisions and Departments
499(2)
Implementing Corporate Cost Allocations
500(1)
Customer Revenues and Customer Costs
501(4)
Customer Revenue Analysis
502(1)
Customer Cost Analysis
502(1)
Customer-Level Costs
503(2)
Focus on Values and Behaviors: So Is the Customer Always Right?
505(1)
Concepts in Action: Customer Profitability at Nextel
506(1)
Customer-Profitability Profiles
506(2)
Sales Variances
508(2)
Static-Budget Variance
509(1)
Flexible-Budget Variance and Sales-Volume Variance
509(1)
Sales-Mix and Sales-Quantity Variances
510(2)
Sales-Mix Variance
510(1)
Sales-Quantity Variance
511(1)
Market-Share and Market-Size Variances
512(4)
Market-Share Variance
512(1)
Market-Size Variance
513(1)
Problem for Self-Study
514(1)
Decision Points
515(1)
Appendix: Mix and Yield Variances for Substitutable Inputs
516(15)
Terms to Learn
519(1)
Assignment Material
519(11)
Video Case: Cost Allocation
530(1)
Part Five Quality and JIT
531(193)
Allocation of Support-Department Costs, Common Costs, and Revenues
531(34)
Allocating Costs of a Support Department to Operating Departments
532(4)
Single-Rate and Dual-Rate Methods
532(1)
Allocation Based on the Demand for or Usage of Computer Services
533(1)
Allocation Based on the Supply of Capacity
534(1)
Budgeted versus Actual Rates
535(1)
Budgeted Usage, Actual Usage, and Capacity-Level Allocation Bases
535(1)
Focus on Values and Behaviors: Finance Executives at Boeing: Setting the Wrong Example
536(1)
Allocating Costs of Multiple Support Departments
537(7)
Direct Method
538(1)
Step-Down Method
539(1)
Reciprocal Method
540(2)
Overview of Methods
542(2)
Global Surveys of Company Practice: Allocation of Support-Department Costs
544(1)
Allocating Common Costs
544(2)
Stand-Alone Cost-Allocation Method
544(1)
Incremental Cost-Allocation Method
545(1)
Cost Allocations and Contracts
546(1)
Contracting with the U.S. Government
546(1)
Fairness of Pricing
546(1)
Revenue Allocation and Bundled Products
547(1)
Concepts in Action: Contract Disputes over Reimbursable Costs for U.S. Government Agencies
548(1)
Revenue-Allocation Methods
548(17)
Stand-Alone Revenue-Allocation Method
549(1)
Incremental Revenue-Allocation Method
549(2)
Other Revenue-Allocation Methods
551(1)
Problem for Self-Study
552(1)
Decision Points
553(1)
Terms to Learn
554(1)
Assignment Material
554(10)
Case: Stanford University
564(1)
Cost Allocation: Joint Products and Byproducts
565(29)
Joint-Cost Basics
566(1)
Main Products, Joint Products, and Byproducts
566(1)
Why Allocate Joint Costs?
567(1)
Approaches to Allocating Joint Costs
567(8)
Sales Value at Splitoff Method
569(1)
Physical-Measure Method
570(1)
Net Realizable Value (NRV) Method
571(1)
Constant Gross-Margin Percentage NRV Method
572(1)
Choosing a Method
573(1)
Not Allocating Joint Costs
574(1)
Global Surveys of Company Practice: Joint-Cost Allocation in the Oil Patch
575(1)
Irrelevance of Joint Costs for Decision Making
575(2)
Sell-or-Process-Further Decisions
575(1)
Joint-Cost Allocation and Performance Evaluation
576(1)
Focus on Values and Behaviors: Management Accountants: Overcoming the Pitfalls of Allocating Joint Costs
577(1)
Pricing Decisions
577(1)
Accounting for Byproducts
577(3)
Production Method: Byproducts Recognized at Time Production Is Completed
578(1)
Sales Method: Byproducts Recognized at Time of Sale
579(1)
Concepts in Action: Chicken Processing: Costing of Joint Products and Byproducts
580(14)
Problem for Self-Study
580(2)
Decision Points
582(1)
Terms to Learn
583(1)
Assignment Material
583(10)
Case: Memory Manufacturing Company
593(1)
Process Costing
594(38)
Illustrating Process Costing
595(1)
Case 1: Process Costing with Zero Beginning and Zero Ending Work-in-Process Inventory
596(1)
Case 2: Process Costing with Zero Beginning but Some Ending Work-In-Process Inventory
597(3)
Physical Units and Equivalent Units (Steps 1 and 2)
598(1)
Calculation of Product Costs (Steps 3, 4, and 5)
599(1)
Journal Entries
600(1)
Global Surveys of Company Practice: Process Costing in Different Industries
600(1)
Case 3: Process Costing with Some Beginning and Some Ending Work-in-Process Inventory
601(1)
Weighted-Average Method
602(2)
First-in, First-out Method
604(1)
Focus on Values and Behaviors: Royal Dutch/Shell: Making Estimations for All the Wrong Reasons
605(3)
Comparison of Weighted-Average and FIFO Methods
608(1)
Standard-Costing Method of Process Costing
609(3)
Computations Under Standard Costing
610(2)
Accounting for Variances
612(1)
Transferred-In Costs in Process Costing
612(5)
Transferred-In Costs and the Weighted-Average Method
614(1)
Transferred-In Costs and the FIFO Method
615(2)
Points to Remember about Transferred-In Costs
617(1)
Hybrid-Costing Systems
617(1)
Concepts in Action: Hybrid Costing for Customized Shoes at Adidas
618(2)
Problem for Self-Study
618(1)
Decision Points
619(1)
Appendix: Operation Costing
620(12)
Terms to Learn
623(1)
Assignment Material
623(8)
Video Case: Nontucket Nectars
631(1)
Spoilage, Rework, and Scrap
632(27)
Terminology
633(1)
Different Types of Spoilage
633(1)
Normal Spoilage
633(1)
Abnormal Spoilage
634(1)
Process Costing and Spoilage
634(4)
Count All Spoilage
634(1)
The Five-Step Procedure for Process Costing with Spoilage
635(2)
Weighted-Average Method and Spoilage
637(1)
Global Surveys of Company Practice: Rejection in the Electronics Industry
638(4)
FIFO Method and Spoilage
638(2)
Standard-Costing Method and Spoilage
640(1)
Journal Entries
640(2)
Inspection Points and Allocating Costs of Normal Spoilage
642(1)
Job Costing and Spoilage
642(2)
Job Costing and Rework
644(1)
Accounting for Scrap
645(2)
Recognizing Scrap at the Time of Its Sale
645(1)
Recognizing Scrap at the Time of Its Production
646(1)
Concepts in Action: Managing Waste and Environmental Costs at Toyota
647(2)
Problem for Self-Study
648(1)
Decision Points
648(1)
Appendix: Inspection and Spoilage at Various Stages of Completion in Process Costing
649(10)
Terms to Learn
651(1)
Assignment Material
651(7)
Case: The United Libbey-Nippon Plant
658(1)
Balanced Scorecard: Quality, Time, and the Theory of Constraints
659(32)
Part One: Quality as a Competitive Tool
660(1)
The Financial Perspective: Costs of Quality
661(2)
The Customer Perspective: Nonfinancial Measures of Customer Satisfaction
663(1)
The Internal-Business-Process Perspective: Analyzing Quality Problems and Improving Quality
664(4)
Control Charts
664(1)
Pareto Diagrams
665(1)
Cause-and-Effect Diagrams
665(1)
Relevant Costs and Benefits of Evaluating Quality Improvement
666(2)
Focus on Values and Behaviors: The Cost of Quality Failure at Firestone
668(1)
Nonfinancial Measures of Internal-Business-Process Quality
668(1)
The Learning-and-Growth Perspective for Quality Improvements
669(1)
Evaluating Quality Performance
669(1)
Advantages of COQ Measures
669(1)
Advantages of Nonfinancial Measures of Quality
669(1)
Part Two: Time as a Competitive Tool
670(1)
Customer-Response Time and On-Time Performance
670(1)
Time Drivers and Costs of Time
671(1)
Uncertainty and Bottlenecks as Drivers of Time
671(1)
Concepts in Action: Overcoming Bottlenecks on the Internet
672(3)
Relevant Revenues and Costs of Time
673(2)
Part Three: Theory of Constraints and Throughput-Contribution Analysis
675(1)
Managing Bottlenecks
675(3)
Balanced Scorecard and Time-Related Measures
678(13)
Problem for Self-Study
678(1)
Decision Points
679(1)
Terms to Learn
680(1)
Assignment Material
680(10)
Video Case: Ritz-Carlton Hotel Company
690(1)
Inventory Management, Just-in-Time, and Backflush Costing
691(33)
Inventory Management in Retail Organizations
691(6)
Costs Associated with Goods for Sale
692(1)
Economic-Order-Quantity Decision Model
692(2)
When to Order, Assuming Certainty
694(1)
Safety Stock
695(2)
Estimating Inventory-Related Relevant Costs and Their Effects
697(1)
Considerations in Obtaining Estimates of Relevant Costs
697(1)
Cost of a Production Error
697(1)
Conflict Between the EOQ Decision Model and Managers' Performance Evaluation
698(1)
Just-in-Time Purchasing
698(4)
JIT Purchasing and EOQ Model Parameters
699(1)
Relevant Costs of JIT Purchasing
699(1)
Supplier Evaluation and Relevant Costs of Quality and Timely Deliveries
700(1)
JIT Purchasing, Planning and Control, and Supply-Chain Analysis
701(1)
Inventory Management and MRP
702(1)
Global Surveys of Company Practice: Challenges in Securing the Benefits of Supply-Chain Management
703(1)
Inventory Management and JIT Production
703(2)
Effect of JIT Systems on Product Costing
704(1)
Financial Benefits of JIT and Relevant Costs
704(1)
Concepts in Action: After the Encore: Just-in-Time Live Concert CDs
705(2)
Enterprise Resource Planning (ERP) Systems
706(1)
Performance Measures and Control in JIT Production
706(1)
Focus on Values and Behaviors: Challenges of Inventory Valuation and JIT Implementation
707(1)
Backflush Costing
707(17)
Simplified Normal or Standard Costing
707(3)
Accounting for Variances
710(3)
Special Considerations in Backflush Costing
713(1)
Problem for Self-Study
714(1)
Decision Points
715(1)
Terms to Learn
716(1)
Assignment Material
716(7)
Video Case: Regal Marine
723(1)
Part Six Investment Decisions and Management Control Systems
724(101)
Capital Budgeting and Cost Analysis
724(35)
Two Dimensions of Cost Analysis
724(1)
Stages of Capital Budgeting
725(1)
Discounted Cash Flow
726(4)
Net Present Value Method
727(1)
Internal Rate-of-Return Method
728(2)
Comparison of Net Present Value and Internal Rate-of-Return Methods
730(1)
Sensitivity Analysis
730(1)
Payback Method
731(1)
Uniform Cash Flows
731(1)
Nonuniform Cash Flows
732(1)
Accrual Accounting Rate-of Return Method
732(1)
Evaluating Managers and Goal Congruence Issues
733(1)
Relevant Cash Flows in Discounted Cash Flow Analysis
734(1)
Global Surveys of Company Practice: Comparison of Capital Budgeting Methods
735(5)
Relevant After-Tax Flows
736(1)
Categories of Cash Flows
737(3)
Managing the Project
740(1)
Focus on Values and Behaviors: Long-Term Contracts and Performance Evaluation at Enron
741(1)
Strategic Considerations in Capital Budgeting
741(1)
Global Surveys of Company Practice: Global Budgeting at AES Corporation
742(4)
Customer Value and Capital Budgeting
743(1)
Investment in Research and Development
743(1)
Problem for Self-Study
743(2)
Decision Points
745(1)
Appendix: Capital Budgeting and Inflation
746(13)
Terms to Learn
748(1)
Assignment Material
748(10)
Video Case: Capital Budgeting at Pearson Education
758(1)
Management Control Systems, Transfer Pricing, and Multinational Considerations
759(32)
Management Control Systems
760(1)
Evaluating Management Control Systems
760(1)
Organization Structure and Decentralization
761(3)
Benefits of Decentralization
762(1)
Costs of Decentralization
762(1)
Comparison of Benefits and Costs
763(1)
Decentralization in Multinational Companies
763(1)
Choices About Responsibility Centers
764(1)
Transfer Pricing
764(1)
An Illustration of Transfer Pricing
765(3)
Market-Based Transfer Prices
768(1)
Perfectly Competitive Market Case
768(1)
Distress Prices
768(1)
Cost-Based Transfer Prices
769(3)
Full-Cost Bases
769(2)
Variable Cost Bases
771(1)
Prorating the Difference Between Maximum and Minimum Transfer Prices
771(1)
Dual Pricing
772(1)
Negotiated Transfer Prices
772(1)
A General Guideline for Transfer-Pricing Situations
773(1)
Global Surveys of Company Practice: Domestic and Multinational Transfer-Pricing Practices
774(2)
Multinational Transfer-Pricing and Tax Considerations
776(1)
Concepts in Action: U.S. Internal Revenue Service, Japanese National Tax Agency, and Transfer-Pricing Games
777(2)
Focus on Values and Behaviors: Transfer Pricing Pressures
779(12)
Problem for Self-Study
779(2)
Decision Points
781(1)
Terms to Learn
781(1)
Assignment Material
782(8)
Case: Information Systems Corporation
790(1)
Performance Measurement, Compensation, and Multinational Considerations
791(34)
Financial and Nonfinancial Performance Measures
792(1)
Choosing Among Different Performance Measures: Step 1
793(5)
Return on Investment
793(2)
Residual Income
795(1)
Economic Value Added
796(1)
Return on Sales
797(1)
Comparing Performance Measures
798(1)
Choosing the Time Horizon of the Performance Measures: Step 2
798(1)
Global Surveys of Company Practice: Key Financial Performance Measures Used Around the Globe
799(1)
Choosing Alternative Definitions for Performance Measures: Step 3
800(1)
Choosing Measurement Alternatives for Performance Measures: Step 4
800(3)
Current Cost
800(1)
Long-Term Assets: Gross or Net Book Value?
801(2)
Choosing Target Levels of Performance: Step 5
803(1)
Choosing the Timing of Feedback: Step 6
803(1)
Performance Measurement in Multinational Companies
804(1)
Calculating the Foreign Division's ROI in the Foreign Currency
804(1)
Calculating the Foreign Division's ROI in U.S. Dollars
805(1)
Distinction Between Managers and Organization Units
805(3)
The Basic Trade-Off: Creating Incentives versus Imposing Risk
806(1)
Intensity of Incentives and Financial and Nonfinancial Measurements
807(1)
Benchmarks and Relative Performance Evaluation
807(1)
Performance Measures at the Individual Activity Level
808(1)
Performing Multiple Tasks
808(1)
Team-Based Compensation Arrangements
808(1)
Executive Performance Measures and Compensation
809(1)
Concepts in Action: CEO Compensation and Company Performance
810(1)
Strategy and Levers of Control
811(1)
Focus on Values and Behaviors: The Courage to Say No
811(14)
Problem for Self-Study
813(1)
Decision Points
814(1)
Terms to Learn
815(1)
Assignment Material
815(9)
Video Case: McDonald's Corporation
824(1)
Appendix A: Global Surveys of Company Practice 825(4)
Appendix B: Recommended Readings 829(4)
Appendix C: Notes on Compound Interest and Interest Tables 833(8)
Appendix D: Cost Accounting in Professional Examinations 841(4)
Glossary 845(12)
Author Index 857(2)
Company Index 859(2)
Subject Index 861


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