Managerial Accounting: Tools for Business Decision Making, 5th Edition

by Jerry J. Weygandt (University of Wisconsin, Madison); Paul D. Kimmel (University of Wisconsin-Milwaukee); Donald E. Kieso (Northern Illinois University)

• ISBN13: 9780470477144
• ISBN10: 0470477148
• Edition: 5th
• Format: Hardcover
• Copyright: 2009-10-01
• Publisher: Wiley

Summary

Many corporate managers struggle to see the relevance of accounting in their everyday responsibilities. Weygandt shows them how managerial accounting information fits in the larger context of business so they are better able to understand the important concepts. The new Do It! feature reinforces the basics by providing quick-hitting examples of brief exercises. The chapters also incorporate the All About You (AAY) feature as well as the Accounting Across the Organization (AAO) boxes that highlight the impact of accounting concepts. With these features, readers will have numerous opportunities to think about what they have just read and then apply that knowledge to sample problems.

Table of Contents

Managerial Accoung

Managerial Accounting Basics

Managerial Cost Concepts

Manufacturing Costs in Financial Statements

Managerial Accounting Today

Appendix: Accounting Cycle for a Manufacturing Company

Job Order Costing

Cost Accounting Systems

Job Order Cost Flow

Summary of Job Order Cost Flows

Reporting Job Cost Data

Process Costing

The Nature of Process Cost Systems

Equivalent Units

Comprehensive Example of Process Costing

Appendix: FIFO Method

Activity-Based Costing

Traditional Costing and Activity-Based Costing

Example of Traditional Costing versus ABC

Activity-Based Costing: A Closer Look

Activity-Based Costing in Service Industries

Appendix: Just-in-Time Processing

Cost-Volume-Profit

Cost Behavior Analysis

Cost-Volume-Profit Analysis

Cost-Volume-Profit Analysis: Additional Issues

Cost-Volume-Profit (CVP) Review

Sales Mix

Cost Structure and Operating Leverage

Appendix: Absorption Costing versus Variable Costing

Incremental Analysis

Management's Decision-Making Process

Types of Incremental Analysis

Other Considerations in Decision Making

Pricing

External Sales

Target Costing

Cost-Plus Pricing

Variable-Cost Pricing

Time-and-Material Pricing

Internal Sales

Negotiated Transfer Prices

Cost-Based Transfer Prices

Market-Based Transfer Prices

Effect of Outsourcing on Transfer Pricing

Transfers Between Divisions in Different Countries

Appendix: Other Cost Approaches to Pricing

Budgetary Planning

Budgeting Basics

Preparing the Operating Budgets

Preparing the Financial Budgets

Budgeting in Nonmanufacturing Companies

Budgetary Control and Responsibility Accounting

The Concept of Budgetary Control

Static Budget Reports

Flexible Budgets

The Concept of Responsibility Accounting

Types of Responsibility Centers

Appendix: Residual Income-Another Performance Measurement

Standard Costs and Balanced Scorecard

The Need for Standards

Setting Standard Costs-A Difficult Task

Analyzing and Reporting Variances from Standards

Balanced Scorecard

Standard Cost Accounting System

A Closer Look at Overhead Variances

Planning for Capital Investments

The Capital Budgeting Evaluation Process

Cash Payback

Net Present Value Method

Additional Considerations

Other Capital Budgeting Techniques

Statement of Cash Flows

The Statement of Cash Flows: Usefulness and Format

Preparing the Statement of Cash Flows-Indirect Method

Using Cash Flows to Evaluate a Company

Using a Worksheet to Prepare the Statement of Cash Flows-Indirect Method

Statement of Cash Flows-Direct Method

Financial Statement Analysis

Basics of Financial Statement Analysis

Horizontal Analysis

Vertical Analysis

Ratio Analysis

Earning Power and Irregular Items

Quality of Earnings

Time Value of Money

Standards of Ethical Conduct for Management Accountants

Cases for Management Decision Making

Photo Credits

Company Index

Subject Index

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