Preface
Brief Contents
Contents
Chapter 1: Introduction to Cost Accounting
Financial, Management, and Cost Accounting
Comprehensive Chapter Review
Data Visualization Solutions
Chapter 2: Cost Terminology and Classification
Associating Costs with a Cost Object
Costs Reacting to Changes in Activity
Classifying Costs for Different Purposes
Components of Product Cost
Product Cost Flow in a Cost System
Comprehensive Review Module
Data Visualization Solution
Chapter 3: Cost Behavior and Estimation
Using Learning Curves to Estimate Costs
Additional Issues in Cost Estimation
Alternative Cost Driver Classifications
Comprehensive Chapter Review
Data Visualization Solutions
Chapter 4: Cost-Volume-Profit Analysis
Sales at a Fixed Level of Profit
Incremental Analysis for Short-Run Changes
CVP Analysis in a Multiproduct Environment
Managing Risks of CVP Relationships
Underlying Assumptions of CVP Analysis
Comprehensive Chapter Review
Data Visualization Solutions
Chapter 5: Relevant Information for Decision Making
Relevant Costs for Specific Decisions
Comprehensive Chapter Review
Data Visualization Solutions
Chapter 6: Job Order Costing
Systems and Methods of Product Costing
Applying Overhead in a Normal Costing System
Underapplied or Overapplied Overhead
Job Costing in Service Organizations
Job Order Costing to Assist Managers
Product and Material Losses in Job Order Costing
Comprehensive Chapter Review
Data Visualization Solutions
Chapter 7: Process Costing
Unit Cost Calculation in Process Costing
Weighted Average Costing Method
Process Costing in a Multidepartment Setting
Appendix 7-1: Alternative Calculations of Weighted Average and FIFO Methods
Appendix 7-2: Process Costing With Standard Costs
Comprehensive Chapter Review
Data Visualization Solutions
Chapter 8: Activity-Based Management and Activity-Based Costing
Determining Whether ABC is Useful
Criticisms of Activity-Based Costing
Time-Driven Activity-Based Costing
Comprehensive Chapter Review
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Chapter 9: The Master Budget
Impact of Environmental Considerations on the Budgeting Process
Master Budget for a Service Provider
Quality of the Master Budget
Comprehensive Chapter Review
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Chapter 10: Flexible Budget, Standard Costing, and Variance Analysis
Developing a Standard Cost System
Material and Labor Variances
Disposition of Standard Cost Variances
Appendix 10A: Job Order Costing Using Standard Costs
Appendix 10B: Conversion Cost as an Element in Standard Costing
Comprehensive Chapter Review
Data Visualization Solutions
Chapter 11: Absorption/Variable Costing and Capacity Analysis
Overview of Absorption and Variable Costing
Income Under Absorption and Variable Costing
Income Statement Impact of a Volume Variance
Reconciliation of Variable and Absorption Costing Before-Tax Profit
Implications of Capacity Measurements
Comprehensive Chapter Review
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Chapter 12: Allocation of Joint Costs and Accounting for ByProduct/Scrap
Outputs of a Joint Process
Accounting for ByProduct and Scrap
ByProduct and Scrap in Job Order Costing
Joint Costs in NonManufacturing Businesses and NotforProfit Organizations
Comprehensive Chapter Review
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Chapter 13: Responsibility Accounting, Support Department Cost Allocations, and Transfer Pricing
Management Information and Control Systems
Responsibility Accounting Systems
Types of Responsibility Centers
Support Department Cost Allocation
Comprehensive Chapter Review
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Chapter 14: Pricing, Sales Variances, and Customer Profitability
Cost-Based Approaches to Pricing
Life Cycle and Target Costing
Continuous Improvement Costing
Customer Profitability Analysis
Comprehensive Chapter Review
Data Visualization Solutions
Chapter 15: Performance Measurement, Balanced Scorecards, and Performance Rewards
Designing Performance Measurement Systems
Financial Performance Measures
Limitations of Return on Investment, Residual Income, and Economic Value Added
Nonfinancial, Quantitative Performance Measures
Using a Balanced Scorecard for Measuring Performance
Links Between Performance Measures and Rewards
Comprehensive Chapter Review
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Chapter 16: Approaches to Cost Control and Managing Uncertainty
Functions of a Cost Control System
Cost Control Implications in the Planning Phase
Cost Consciousness Attitude
Planning and Controlling Discretionary Fixed Costs
Comprehensive Chapter Review
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Chapter 17: Implementing Quality Concepts
Measuring the Cost of Quality
Comprehensive Chapter Review
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Chapter 18: Inventory and Production Management
Buying/Producing and Carrying Inventory
Economic Order Quantity in a Push System
Just-In-Time in a PULL SYSTEM
Comprehensive Chapter Review
Data Visualization Solutions
Chapter 19: Capital Budgeting
Discounted Cash Flow Methods
Relevant After-Tax Cash Flows
Evaluating and Ranking Projects Using Different Methods
Compensating for Risk in Capital Project Evaluation
Appendix 19-1: Time Value of Money
Appendix 19-2: Accounting Rate of Return
Comprehensive Chapter Review
Data Visualization Solutions
Appendix A Compound Interest Tables