Schaum's Outline of Managerial Accounting

by Shim, Jae K.

• ISBN13: 9780070580411
• ISBN10: 0070580413
• Edition: 2nd
• Format: Paperback
• Copyright: 1998-10-31
• Publisher: McGraw-Hill

Summary

If you want top grades and thorough understanding of managerial accounting, this powerful study tool is the best tutor you can have! It takes you step-by-step through the subject and gives you accompanying related problems with fully worked solutions, including sample problems from the cost/managerial portion of the CPA, CMA, SMA, and CGA exams. You also get additional practice problems to solve on your own, working at your own speed. In addition, this superb, just-revised study guide gives you new chapters on job order costing and process costing, allocation of service department costs, activity-based costing, quality costs and Total Quality Management, just-in-time inventory, and new material on Modified Accelerated Cost Recovery System.

Table of Contents

Management Accounting---A Perspective	1	(8)
The Role of Management Accounting	1	(1)
Financial Accounting vs. Management Accounting	1	(1)
Cost Accounting vs. Management Accounting	2	(1)
The Work of Management	2	(1)
The Organizational Aspect of Management Accounting	2	(1)
Controllership	3	(1)
The Certified Management Accountant (CMA)	4	(5)
Cost Concepts, Terms, and Classifications	9	(22)
Different Costs for Different Purposes	9	(1)
Cost Classifications	9	(1)
Costs by Management Function	10	(1)
Direct Costs and Indirect Costs	11	(1)
Product Costs and Period Costs	12	(1)
Variable Costs, Fixed Costs, and Semivariable Costs	12	(1)
Costs for Planning, Control, and Decision Making	13	(1)
Income Statements and Balance Sheets---Manufacturer's vs. Merchandiser's	14	(17)
Determination of Cost Behavior Patterns	31	(24)
Analysis of Cost Behavior	31	(1)
A Further Look at Costs by Behavior	31	(2)
Types of Fixed Costs---Committed or Discretionary	33	(1)
Analysis of Semivariable Costs (or Mixed Costs)	33	(1)
The High-Low Method	33	(2)
The Scattergraph Method	35	(1)
The Method of Least Squares (Regression Analysis)	36	(1)
Regression Statistics	37	(2)
The Contribution Approach to the Income Statement	39	(16)
Cost-Volume-Profit and Break-Even Analysis	55	(34)
Cost-Volume-Profit and Break-Even Analysis Defined	55	(1)
Questions Answered by CVP Analysis	55	(1)
Concepts of Contribution Margin	55	(1)
Break-Even Analysis	56	(2)
Target Income Volume and Margin of Safety	58	(2)
Some Applications of CVP Analysis	60	(1)
Sales Mix Analysis	61	(2)
Break-Even and CVP Analysis Assumptions	63	(1)
Absorption vs. Direct Costing	63	(26)
Examination I: Chapters 1-4	84	(5)
Relevant Costs in Nonroutine Decisions	89	(25)
Types of Nonroutine Decisions	89	(1)
Relevant Costs Defined	89	(1)
Other Decision-Making Approaches---Total Project and Opportunity Cost Approaches	90	(1)
Princing Special Orders	91	(1)
The Make-or-Buy Decision	92	(1)
The Sell-or-Process-Further Decision	93	(1)
Adding or Dropping a Product Line	94	(1)
Utilization of Scarce Resources	95	(19)
Budgeting for Profit Planning	114	(28)
Budgeting Defined	114	(1)
The Structure of the Master Budget	114	(1)
Illustration	115	(7)
Zero-Base Budgeting	122	(20)
Standard Costs, Responsibility Accounting, and Cost Allocation	142	(40)
Responsibility Accounting Defined	142	(1)
Responsibility Centers and Their Performance Evaluation	143	(1)
Standard Costs and Variance Analysis	143	(5)
Fixed Overhead Variances	148	(1)
Methods of Variance Analysis for Factory Overhead	149	(1)
Flexible Budgets and Performance Reports	150	(2)
Segmental Reporting and the Contribution Approach to Cost Allocation	152	(30)
Examination II: Chapters 5-7	177	(5)
Performance Evaluation, Transfer Pricing, and Decentralization	182	(30)
Decentralization	182	(1)
Evaluation of Divisional Performance	183	(1)
Rate of Return on Investment (ROI)	183	(1)
ROI and Profit Planning	184	(1)
Residual Income (RI)	185	(1)
Investment Decisions under ROI and RI	185	(1)
Transfer Pricing	186	(1)
Alternative Transfer Pricing Schemes	187	(25)
Capital Budgeting	212	(37)
Capital Budgeting Decisions Defined	212	(1)
Capital Budgeting Techniques	212	(7)
Mutually Exclusive Investments	219	(1)
Capital Rationing	220	(1)
Income Tax Factors	220	(2)
Capital Budgeting Decisions and the Modified Accelerated Cost Recovery System (MACRS)	222	(27)
Quantitative Approaches to Managerial Accounting	249	(25)
Introduction	249	(1)
Linear Programming and Shadow Prices	249	(4)
The Learning Curve	253	(1)
Inventory Planning and Control	253	(21)
Financial Statement Analysis and Statement of Cash Flows	274	(35)
Financial Statement Analysis	274	(1)
Ratio Analysis	274	(2)
Liquidity Ratios	276	(1)
Activity Ratios	276	(1)
Leverage Ratios	277	(1)
Profitability Ratios	278	(1)
Summary of Ratios	279	(1)
Statement of Cash Flows	280	(1)
FASB Requirements	281	(1)
Accrual Basis of Accounting	281	(1)
Cash and Cash Equivalents	281	(1)
Presentation of Noncash Investing and Financing Transactions	282	(1)
Operating, Investing, and Financing Activities	282	(2)
Presentation of the Cash Flow Statement	284	(25)
Product Costing Methods (Job-Order Costing, Process Costing, Cost Allocation, and Joint-Product Costing)	309	(26)
Cost Accumulation Systems	309	(1)
Job-Order Costing and Process Costing Compared	310	(1)
Job-Order Costing	310	(1)
Job Cost Sheet	310	(1)
Factory Overhead Application	311	(3)
Process Costing	314	(1)
Steps in Process Costing Calculations	314	(1)
Cost-of-Production Report	314	(2)
Weighted Average vs. First-In, First-Out (FIFO)	316	(3)
Allocation of Service Department Costs to Production Departments	319	(1)
Procedure for Service Department Cost Allocation	319	(2)
Joint-Product and By-Product Costs	321	(14)
Activity-Based Costing (ABC), Just-in-Time (JIT), Total Quality Management (TQM), and Quality Costs	335	(22)
Activity-Based Costing	335	(1)
How Does ABC Work?	336	(2)
Benefits of an ABC System	338	(1)
Just-in-Time Manufacturing	338	(1)
JIT Compared with Traditional Manufacturing	338	(1)
Benefits of JIT	339	(1)
JIT Costing System	339	(1)
Total Quality Management	340	(1)
Quality Costs	340	(1)
Quality Cost and Performance Reports	341	(1)
Activity-Based Costing and Optimal Quality Costs	341	(16)
Examination III: Chapters 8-13	352	(5)
Index	357