Description
Book SynopsisWith easy-to-understand explanations and real-life examples, Management & Cost Accounting For Dummies provides students and trainees with the basic concepts, terminology and methods to identify, measure, analyse, interpret, and communicate accounting information in the context of managerial decision-making.
Major topics include:
- cost behaviour
- cost analysis
- profit planning and control measures
- accounting for decentralized operations
- budgeting decisions
- ethical challenges in management and cost accounting
Trade Review'This book is perfect for college students, those studying level 3 and 4 at AAT, as well as the operational levels at CIMA, or those on the fundamental ACCA courses.' (PQ Magazine, January 2014).
Table of ContentsIntroduction 1
Part I: Getting Started with Management and Cost Accounting 7
Chapter 1: Planning and Control: The Role of Management Accounting 9
Chapter 2: Using Management Accounting in Your Business 27
Part II: Understanding and Managing Costs 45
Chapter 3: Classifying Direct and Indirect Costs 47
Chapter 4: Allocating, Apportioning and Absorbing Overhead 71
Chapter 5: Costing Products Flowing Through a Business 95
Chapter 6: Job Costing: Pricing Individual Orders 105
Chapter 7: Process Costing: Tracking What’s Produced and How Much it Costs 119
Chapter 8: Observing How Variable and Fixed Costs Behave 143
Part III: Planning and Budgeting 161
Chapter 9: Using Contribution Analysis to Make Better Decisions 163
Chapter 10: Decision-Making Within the Reality of Limited Capacity 189
Chapter 11: Deciding on Long-Term Purchases: Capital Budgeting 205
Chapter 12: Naming Your Price: Approaches to Decision-Making 229
Chapter 13: Doing Deals between Company Divisions: Transfer Prices 243
Chapter 14: Planning Budgets for the Future 259
Part IV: Using Management Accounting for Evaluation and Control 279
Chapter 15: Using Flexible Budgets to Exert Control 281
Chapter 16: Variance Analysis: Flexing Standard Costs 293
Chapter 17: Establishing Accountability with Responsibility Accounting 317
Chapter 18: The Balanced Scorecard: Reviewing Your Business’s Report Card 329
Chapter 19: Squeezing Out of a Tight Spot with the Theory of Constraints 347
Part V: The Part of Tens 357
Chapter 20: Ten Key Management Accounting Formulas 359
Chapter 21: Ten Careers in Management Accounting 371
Index 375
